RankMiner has successfully helped clients in call centers around the world improve their productivity and success rates through the power of predictive voice analytics. Using the information gleaned from voice analytics, RankMiners Customer Insight and Agent Insight products provide clients with reliable predictive analytics that empower future success.
One of the first questions some of RankMiners clients have about the Agent Insight and Customer Insight products is what is voice analytics, and why is it so important?
What is Voice Analytics?
Voice analytics is, simply put, the analysis of voice-to-voice patterns used to get past the words being said and discover the real meaning behind the words. This differs from speech analytics, which tends to focus on converting spoken words into text for analysts to study the keywords and phrases used.
For example, consider the phrase yeah, right. This is a common English phrase people use all the time, but it can have different meanings based on how its said. The literal meaning, the one that a speech analysis program might assume, is one of agreement, or Thats correct. When spoken in a sarcastic or disbelieving tone, it actually means I dont agree with you, a meaning that speech analytics would miss.
Rather than transcribing the text of the dialogue between customers and call center agents, voice analytics keeps track of the emotional behavior and tone of the speaker, which helps to find the real YESes and sort them from the NOs. This analysis is based on specific voice features such as vocal pitch, loudness, amplitude, and resonance; all of which can tell you more about a speakers state of mind than their word choice alone.
Using advanced digital signal processing technology, RankMiners voice analytics software automatically performs an analysis of these voice features and then ranks customers by their likelihood of giving a positive response in the future.
Why Voice Analytics is Important
Voice analytics rests at the very core of RankMiners Agent Insight and Customer Insight products. Without the data provided by voice analytics, it would be impossible to create the predictive reports that enable RankMiners customers to increase call center performance by as much as 63%.
By analyzing how customers respond on a call, you can more accurately predict their future behavior. In essence, you can identify customers who are potential YESes and separate them from the hard NO responses. This allows you to focus your call centers efforts on the customers who are most likely to convert rather than wasting time chasing prospects that will never commit.
Because the analysis is automated, 100% of your call centers customer interactions can be analyzed, meaning that there are no gaps in your predictive analysis. This gives managers of busy call centers a completeness of information that manually processing analyses cannot provide.
In short, voice analytics is the foundation for a truly accurate predictive model that your organization can use to improve results by focusing on the right customers at the right time. To learn more about these results and how RankMiner has helped real businesses achieve them, take a look at our DCI case study.