Investing in speech analytics technology is a big step for your business, especially when you’re just about to start. However, such investment begs multiple and vital questions. The best-in-class global organizations are set to implement speech analytics software, transforming such integration into a worldwide trend. With the culmination of such technology comes the need to understand what's in it for you! If your organization considers investing in speech analytics solutions, the first step you need to cover is “research.” Next, it requires overall research and analysis to ensure the software best fits your demands and interests, providing you with the most significant ROI. Let’s talk about the benefits of a speech analytics API render. The advantages consist of four primary goals: outstanding customer experience, cutting operational costs, enhancing revenue, and reducing customer attrition. At first, the implementation cost might be overbearing, but the long-term operational benefits of speech analytics software always outweigh the costs. When evaluating a solution, it's obvious to get overwhelmed by the different and vast number of solutions and products available. From chatbots to text to speech solutions, cloud contact centers to business SMS API, Speech Analytics brings every solution to your demand. There are no one-size-fits for all approaches. Every business has different needs that require attention. Check out therein addition, six must-have features for every speech analytics solution to look for before going for the right solution that fits your business needs. 1. Real-Time Speech Recognition Real-time speech recognition is one of the essential features of any speech-to-text analytics service. It enables the identification of predefined keywords in audio or video conversations, thereby displaying relevant information, assisting in seamless customer service operations. With scripts and knowledge-based built-in, speech analytics software can achieve higher call resolutions, driving increased sales. Moreover, such helps in reviewing call transcripts after the conversation has taken place. A real-time speech recognition software thus ensures customer satisfaction while minimizing long-term customer attrition. 2. Multichannel Analytics While speech recognition analysis is a great feature, especially in revealing the decisive moments in customer interactions, it’s essential to note that customers use multiple ever-growing communication channels, from the web to SMS, even emails and social media. The research concludes that customers admit they prefer using a multichannel approach to interactions, as many as six different communication channels. Therefore, the speech analytics solution must provide an Omnichannel view via WhatsApp business API or SMS, besides the conventional speech-to-text services through AI. 3. Risk Analysis Potential A speech analytics solution must identify the root cause of customer dissatisfaction, further monitoring how your agents interact with customers. Analyzing the reasons for customer dissatisfaction, a company can address the issues and encourage more customer loyalty. In addition, a Speech Analytics API can recognize what's driving your customer behavior and leverage them to ensure long-term customer satisfaction. 4. Higher Accuracy in Performance The solution must provide a high level of accuracy with a high reward rate. In addition, the software should be able to measure the emotion of the caller as well as the agent. Choose a solution that provides transcription and implement software with blistering brainpower to manage the language of diverse peculiarities. 5. Strong Search Criteria Your software should provide multiple opportunities to select vast search criteria, enabling a better understanding of the discovered information. Therefore, we should not overlook the searching power of the analytics software. 6. Configuration Ease For an optimal result, your software should display high levels of configuration ease, being integrable within your IT infrastructure. Such integrated and customizable software enables a rich user experience as well. With configuration ease also comes cost optimization, making it easier for your business to react with business dynamics. Final Words Speech analytics software and transcription solutions are emerging as digital world leaders, opening new horizons for global companies. With Knowlarity, you can enjoy the powerful features of speech-to-text analytics, empowering customer service and driving more sales for your business.
