72% Companies Believe Speech Analytics can Improve Customer Experience

  • Companies believe that real-time applications improve customer experience, manage and optimize costs
  • Of 500 respondents, 68% say rapid recognition of the intent of each customer is the major benefit

Uniphore Software Systems released the “Executive Survey on Speech Analytics” a report by Opus Research, highlighted the growing importance of speech analytics to dramatically improve customer experience in critical service areas.

According to the research report, an overwhelming, 72% companies believe that speech analytics can lead to improved customer experience, 68% regard it as a cost saving mechanism, 52% respondents trust that speech analytics deployment can lead to revenue enhancement.

The respondents further believe that speech analytics can deliver immediate business benefits: 68% expect rapid and easy recognition of customer intent, 67% believe that it aids in the ability to monitor calls for quality purposes and agent training. Overall, there is a heightened awareness of the value of real time analytics to deliver better customer experience.

In total, 247 out of the 500 decision-maker respondents (49%) had speech analytics deployed at their enterprises and organizations. Strikingly, this set, confirmed cost savings and improved customer experience as the significant reasons for deployment of speech analytics.

The survey, conducted in the first quarter of pic2016, across North America, Canada, Southeast Asia, India and Australia, representing diverse sectors such as banking, financial markets, healthcare services, pharmaceutical and biotechnology, retail, telecommunications, and travel and hospitality. It covered 500 completed interviews of decision makers (Director, VP, C-level) of firms with revenue of more than $50M.

The other major benefit that emerged in the survey was the ability of speech analytics to detect and prevent fraud, especially in the financial services, banking and retail industries. Real-time intervention and appropriate remedial actions were the key attributes driving this perception. Most respondents also said they expected to increase spending and investment on Speech Analytics for their business operations.

To download the entire report, please click here:

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