What Is AI Speech Analytics And How It Works?

 

Source: Enthu AI

What Is Speech Analytics? Know About The Real Meaning Of AI Speech Analytics

Speech Analytics uses a technology based on artificial intelligence (AI), natural language processing (NLP), and speech recognition. These three technologies help analyse spoken language and gather data from audio records, thereby helping in real-time call centre conversations. Speech analytics and the software help in converting millions of calls into structured data, providing meaningful insights into customer sentiments. Speech analytics and the combination of artificial intelligence (AI) help in addressing or recognising customer issues and thereby identifying opportunities to improve service quality.

How The Power Of AI Speech Analytics Is Affecting The Industries?

Artificial Intelligence (AI) brings automation, speed and predictive insights helping in growing the volume of data. Other technologies like CRM or legacy call tracking software do not generally provide advanced capabilities to the company that are needed to make better use of data.

Artificial Intelligence (AI) gives real-time benefits to interact and identify patterns and trends. This further leads to better agent, product performance, and service delivery.

AI speech analytics help national retailers monitor the quality of their products while coming in contact with other centres and the customers’ feedback. This further reduces the need for additional staff requirements and potentially leads to cost savings for the company to reinvest in other business areas.

AI-enhanced analytics also help in identifying repeat calls and thus improve the company’s performance in having online experiences and its brick-and-mortar experiences by not calling repeat customers either way. It also helps in improving the training of agents so that solving customer’s problems can become more easier. Artificial Intelligence (AI) also help in real-time insights that agents can use to improve their interaction with customers.

What Is The Working Of AI Speech Analytics? Know About The Key Components….

Speech analytics software collects data pulled from customer conversations and thereby provides an overview of the information displayed in dashboards, transcripts, and reports. By using this kind of data, the managers, and call centre agents can help themselves in addressing customer requests and complaints.

But, how actually the AI speech analytics work, hear, understand, and transcribe human voices…??

Speech analytics software goes through these processing units and moves through these steps – 

Processing Data 

Using sentiment analysis and speech recognition, the software helps to retrieve the call metadata.

Analysis 

By analysing the tone and keywords used earlier, the software helps to place the calls and categorize them and gives you a summarization report on how you can interact or answer them.

Insights 

After the analysis, there comes detailed reporting providing an update on the agents performed, the emotions of the customers, the quality of the call, and the compliance metrics.

A Few Of The Applications Of AI Speech Analytics 

AI speech analytics can be applied in various industries and scenarios to improve services, for example, the software can have implementations like –

Customer service and support

You may conclude or deduce the customer’s sentiments from their voice in calls. This also helps in catering for the businesses and knowing about the customer’s needs with a better understanding from the start. Furthermore, this enables customer support agents to provide feedback to their customers in real time or with real solutions.

Sales and marketing

By looking at the prior calls of the customers including their behaviours, and emotions; agents can get better training for future scenarios. This improvement in their training can help in more efficient sales calls.

Market research and consumer insights

After knowing the customer’s preferences, you can develop better products and may achieve market fit. Artificial Intelligence (AI) Speech analytics can be used to listen to the customer’s feedback to improve product development.

Cost savings 

The inclusion of artificial intelligence (AI) with speech analytics can help customers with repetitive concerns. The business can become more easy if the customer leads to self-service for their repetitive concerns. In addition, this will mark the immediate resolution of issues for the customers and will bring cost-saving opportunities for the businesses.