Hearing is Believing
Companies struggle with finding ways to sustain profitable growth in the current economy. Much of the analysis has been around developing better competitive strategies by imagining the future, adapting to change, and creating innovation.
At Verint System's user conference in Las Vegas last week, I spoke to Daniel Ziv, vice president, Customer Interaction Analytics at Verint Witness Actionable Solutions, about how companies are managing the challenges of doing more with less in their contact centers. "The economy is changing the way customers act," he said. "Now people are realizing that in this tough economy...they can't just cut 10 percent. They can't make a gut feel. They have to base their decisions on fact."
Ziv is betting on companies investing this year in tools that will deliver the solid information they need to make fact-based decisions to operate at profitable growth. Verint's new release of its Impact 360 Speech Analytics Solution is poised to help companies do just that by allowing them to react rapidly to changes in customer behavior, while reducing expenses.
The unique differentiator with this solution is it brings speech analytics technology into contact centers without the need for interpretation by an analyst team. The tool enables businesses to mine recorded customer interactions and provide rapid insight into changes in customer behaviors and patterns. It then identifies call drivers--along with the related product, process, and service issues that often originate in areas outside the contact center, such as back-office functions. The solution then identifies emerging trends, opportunities, and competitive influences, and can then make such business intelligence available to quality supervisors, marketing managers, and customer retention teams.
Bell Canada has been using Verint's speech analytics for a few years. Although the company has not yet deployed this new version, Erica Van Noort, director of contact center management consulting at Bell Canada, said the new release provides the ability to relate words from recent customer calls to previous calls to find a link between how calls impact each other. Such changes are surfaced by the software's Automated Trend Analysis, which identifies increases or decreases in terms and phrases used during customer/agent conversations. "This gets to the one-off customer life changes that could be impacting a valuable set of customers," she said.
Ziv added that some of his clients no longer feel the need to conduct focus groups anymore; they instead rely on speech analytics. "[Speech analytics] provides a pool of resources. Not tapping into it doesn't make sense. It used to be 'seeing is believing.' Now it's 'hearing is believing.'"
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