Certainly, the call centers receive thousands of calls every day. Meaning, they collect a huge amount of valuable information during those calls. That kind of information can be difficult to handle. As a result, many call center solutions are rising in the market. They are helping call centers to handle this data and make good use of it. Speech Recognition is one of them.

Speech recognition means the ability of a system to identify and analyze spoken language and convert it into digital analytics. In other words, when customers talk to your agents, the system analyzes that conversation and can trigger specific actions based on the analyzed data. Further, that analyzed data can prove to be very valuable for the call centers. Some examples of popularly used speech recognition based software are Siri, Alexa, Cortana, and Google Assistant.

How Speech Recognition can help Call Centers?

There are several ways by which speech recognition and speech analytics technologies can be useful for call centers. Here are a few.

1. Quality Monitoring

 

Quality Monitoring is the process of recording and monitoring the calls answered by agents. Call center managers evaluate the calls based on the quality of interaction an agent had with the customer.

Mostly, it is used to check if the agent:

  1. Properly greeted the customer
  2. Was professional or not
  3. Captured key customer data
  4. Provided the customer with correct and relevant information

However, speech recognition can make these tasks much easier for call center managers. They can develop a system which can:

  1. Alert you for specific phrases that may indicate serious problems.
  2. Spot recurring issues.
  3. Check the agent’s tone and voice pitch.

2. Building a Customer Database

A speech recognition system can be used to collect customer data and store it in one place. Firstly, the data provided by customers on a call is directly converted into text with the help of speech-to-text technology. Further, it is automatically saved in a database for future use.

Using speech recognition, companies can gather information like:

  1. Caller’s account name and number
  2. Transaction history
  3. Previous interactions across different platforms
  4. Contact details

As a result, call center agents can refer to the database to get a full view of the customer. Then, they can recommend better solutions to their issues.

3. Getting Valuable Insights

Certainly, using speech analytics to get insights can be very beneficial for businesses. By understanding the customers’ behavior on a call, companies can:

  1. Know when and why the customers show interest
  2. Predict potential buyers
  3. Determine customer satisfaction level

Thus, all this data can help the call centers to know what they are doing right and what they are doing wrong. According to Forbes, In organizations now using machine learning, 45% have gained more extensive data analysis and insights. Further, the prediction of potential buyers can help them get valuable leads that can boost the business.

4. Voice identification

With speech recognition, customers don’t need to waste their time giving their identification. Speech recognition systems are capable of storing voice data. Therefore, this data can be used for the identification of every caller and it is as unique as their fingerprint. Moreover, they can also use it for voice authentication while making common interactions, such as:

  1. Checking their account balance
  2. Requesting shipping information

So, all the customers have to do is say their name clearly and the agents will simply get their identification and previous records. This will not only ease up call queues but will also allow your business to offer seamless customer experience.

5. Real-time Support for Agents

Agents usually have a hard time understanding exactly what the customer needs. Mostly, even for experienced agents, it can be difficult to determine:

  1. If a customer is frustrated.
  2. How a conversation is developing.
  3. If they are about to hang up.

However, speech recognition technology using sentiment analysis can identify almost every emotion from enthusiasm to anger or dissatisfaction in the voices of customers. Further, all this work is done in real-time so it can be very helpful for the call center agents. In addition, the system can warn agents if the customer is angry and can provide them suggestions to make the conversation better.

6. Competitive Analysis

Competitive insights can be very beneficial for a business trying to stay on top of the leaderboard. For example, knowing how customers compare an organization to its competition. Customers openly share their feedbacks with the agents during a call. But, it can be quite difficult to note down and tally all the competitive mentions and generate useful data from that.

Speech analytics is an invaluable tool for competitive insights. Certainly, it can determine things like:

  1. How often is a competitor mentioned
  2. Frequently mentioned competitors
  3. Are the topics price, functionality, or service?

Further, these results can drive:

  1. Pricing decisions
  2. Product design
  3. Brand awareness
  4. Advertising threats

7. Cost Saving

Speech analytics can cut costs in a lot of areas that agents handle manually. As a result, using it can benefit a business financially. Additionally, it can cause:

  1. Reduction in headcount from call center automation
  2. Reduction in call volumes after customer service improves
  3. Avoidance of calls that can be handled by AI-Powered voice bots
  4. Reduced costs of quality monitoring

8. Identifying Sales Opportunity

Speech recognition can improve sales by evaluating the calls in real-time. By analyzing which conversations lead to more sales, it is possible to find the most effective patterns to close a deal. As a result, you can develop a coaching program to improve your agents’ sales techniques as well as avoid missing opportunities.

9. Building Training Strategies

Speech recognition and analysis can determine where the call center agent performance is lacking. With that data, call center agent management can provide training sessions to the agents in their weak skills. Moreover, they can acknowledge and correct their mistakes and it will improve their performance.

10. Compliance

Usually, companies have certain rules and regulations which the agents are supposed to follow. For example, it might be mandatory for the agents to use a particular keyword in every call. But the management cannot listen to every conversation to make sure that they are complying.

However, they can use speech analysis to detect if a particular keyword was mentioned in the conversation or not. As a result, it will save the management’s time and will ensure rule enforcement.

Conclusion

Speech recognition and voice analytics are one of the most popular call center solutions. Certainly, it is one of the fastest-growing areas of the call center technology market. Above all, it is helping enterprise leaders appreciate the value of call centers. Therefore, leveraging speech recognition technology can change the face of the call centers.

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