HoduSoft Introduces Advanced Speech Analytics

“We are surrounded by data, but starved for insights.”

This famous quote by Jay Baer (marketing and customer experience expert) highlights the importance of skilled data analysts and advanced tools. Yes, even though data is everywhere, we don’t necessarily know what it means or how it can be utilized in meaningful ways.

According to a report, businesses use only 51% of the information they collect and generate. Additionally, data is only used to make 48% of decisions. As a result, businesses lose out on $5.2 million in revenue. 

At HoduSoft, we understand the importance of data analytics for today’s businesses and gaining deeper insights to improve their customer interactions. In today’s digitally driven business world, where customer experience can make or break a business, the ability to gain deeper insights into customer interactions is paramount. With this commitment to help businesses leverage data-driven insights, HoduSoft has announced the launch of its advanced Speech Analytics feature. 

The company has teamed up with Speechmatics, a leading technology company, well renowned for delivering the best speech technology in the market. Speechmatics ensures the utmost accuracy and reliability of transcriptions.  This partnership aims to provide call/contact centers and business process organizations with market-leading transcriptions, summaries, and sentiment analysis.

Let’s learn more about Speech Analytics and how this innovative tool helps businesses gain a comprehensive analysis of customer conversations.

What is Speech Analytics?

Speech analytics is a technology, generally used by call centers, contact centers, and business process organizations to analyze voice recordings or live customer calls and extract valuable information. Unlike traditional call recording, speech analytics uses advanced algorithms to identify patterns, trends, and insights. 

It uses techniques like Speech Recognition/Transcription, Sentiment Analytics, and Summarization to help businesses determine key issues that may negatively impact customer satisfaction. It enables a better understanding of customer sentiments and facilitates monitoring agent performance.

• Speech Recognition/Transcription- It converts spoken words by agents and customers into accurate and readable text for easy analysis and documentation.
• Sentiment Analytics- It analyzes sentiments and emotional tone in text or speech data to measure overall satisfaction levels.
• Summarization- It extracts the key points from the entire conversation and provides a brief summary.

Speech analytics technology can easily detect emotional and behavioral signals from audio patterns and words, empowering contact center agents to gain useful insights into customer behavior. Utilizing this technology, agents can personalize interactions to meet the needs and expectations of each customer. This way, the agents can not only improve their efficiency and performance but can also enhance overall customer satisfaction. 

Benefits of Using Speech Analytics

HoduSoft’s advanced Speech Analytics feature is a powerful tool for businesses seeking to boost their customer insights and improve service delivery. Here are some of the key benefits of using speech analytics technology-

Superior Customer Experience

Speech analytics technology enables businesses to gain a better understanding of their customer’s needs and preferences by understanding the essence of customer interactions.

By analyzing the sentiments, emotional tones, and key phrases, users can easily understand the key needs, concerns, and ever-changing customer expectations. This understanding further helps companies in improving their offerings and marketing strategies to enhance overall customer experience.

Tracking and Improving Agent Performance

Speech analytics is an excellent tool to determine agent performance in terms of delivering the best customer service. It allows supervisors to track and monitor key metrics related to agent performance and determine areas that require improvement.

By reviewing the transcribed calls, they can determine which type of customer interaction is helpful and which areas of the conversation aren’t beneficial. Based on the details, customized training and development programs can be organized to enhance the efficiency and productivity of the customer service team. 

Data-Driven Decision Making

With detailed insights into customer interactions offered by HoduSoft’s Speech Analytics, businesses can identify their strengths and weaknesses and make necessary strategies to successfully meet customer expectations.

Moreover, with advanced speech analytics tools, businesses can identify key industry and customer behavior trends which can help them in predicting outcomes. Accordingly, decisions can be made to increase customer engagement and improve satisfaction levels. The ability to make data-driven decisions ultimately leads to better outcomes and increased revenue generation.

Cost Savings

The detailed insights offered by speech analytics allow businesses to focus their efforts more precisely, reducing the costs associated with poor service and customer churn.

By identifying and addressing key issues quickly, businesses can easily improve customer satisfaction and engagement for your brand. Besides, the efficiency achieved from improved agent performance and simplified processes contributes to overall cost and time savings.

Conclusion:

Are you ready to leverage speech analytics technology for growth optimization? Many businesses, especially call and contact centers have already started understanding the importance of speech analytics in enhancing their strategic planning and overall business strategy. 

So, if you are looking for the best speech analytics solution, then look no further because we have the best Speech Analytics technology delivered from the well-known provider Speechmatics that outperforms various major speech-text-providers in the market with its utmost accurate and reliable transcriptions.  Explore the potential of HoduSoft’s Speech Analytics today and take your customer service to the next level.