Top 8 Myths Debunked About Speech Analytics

speech analytics myths

You have been managing a booming contact center for the past few years. But, over the last few months, you have observed that your agents are unable to deliver performance at par to the required standards. In fact, your CSAT score is getting worse and the FCR score has sunk to the lowest. Leaving you apprehensive and concerned, you tried numerous ways to get over these and mend your brand reputation but nothing served the purpose. However, there’s one tool that you missed giving a try and that’s speech analytics software.

A powerful tool that can assist you with relevant insights about your customers and the agents is still limited only to a few contact centers. This is owing to factors like limited market visibility and misconceptions that have been associated with the product. Even those who are well aware of its worth are unable to make its best use. Therefore, it is extremely important to help people develop a better understanding of this software as well as debunk the common myths that are associated with speech analytics.

Here’s debunking a few common speech analytics myths:

Myth 1: Speech Analytics Software Reveals Inaccurate Information

Fact: The accuracy of information revealed by the speech analytics software has been doubted for long. But with the advent of advanced tools and technology, there is no obstacle to its successful deployment. The tool is now capable enough to serve as a reliable source of information.

The transcripts that are analyzed by the software make it easier to collect precise information about the customers as well as the agents. This, in turn, enables circulation of more accurate and precise information.

Myth 2: Listening to Real Calls is Not Required

Fact: If the actual call recordings are not listened to or analyzed, the agents are very likely to continue performing in a predefined manner. Listening to the actual call recordings may enable easy identification of the flaws in your agents’ performance, which, in turn, can help in devising and implementing an effective improvement plan.

All that needs to be done is making a random selection of call recordings and reviewing them to identify their call type and its objective, the agents’ ability to communicate the required message, probable issues, etc.

Myth 3: Speech Analytics Software Can Reveal Insights Independently

Fact: There is no doubt that speech analytics software is a powerful tool to get deeper insights about a contact center’s agents, customers and allied aspects. But, this can only be done by optimizing the software to perform at the required level. For instance, changing the language settings to match the needs of a specific industry and testing the software for optimized performance, etc.

While the software can certainly make it easier to identify keywords and phrases in a call recording, it may not be able to provide much more useful insights. Therefore, it is best to optimize the software in sync with your business objectives. Though the process might seem to be cumbersome owing to its complicated setup process, all the efforts are worth it if executed well.

Myth 4: Managing Speech Analytics Software Doesn’t Require Experts

Fact: After its initial setup, speech analytics software can run automatically if the regular upgrades are made in a timely manner. It also requires someone with a hands-on experience of executing such tasks that are essential to keep the software performing well. Along with this, it is also expected from this person to have an understanding about other requirements like requisite software setup, server and database management, compilation, analysis and delivery of key findings.

If all this seems to be too much for one person, it is better to divide the responsibilities among multiple individuals. Based on their responsibility, they can be grouped under various heads such as admin for tool setup and management, business analyst to deliver key findings, etc.

Myth 5: Outsourcing Voice Data is Risky

Fact: For long, it has been believed that outsourcing call recordings of the customers can pose a major risk to the company’s as well as an individual’s data. Stored on company servers, it was deemed safe until it was not being transferred to another server.

With speech analytics technology, there is no need to fear data loss or privacy breach. Keeping the customers’ personal information and other sensitive information safe and secure, it allows one to adhere with the call quality assurance policies and raise an alarm if the need arises.

Myth 6: Investing in Speech Analytics Technology is a Sheer Waste of Resources

Fact: The calls between customers and the agents are a pool of information. Therefore, it is important to make sure that these calls are analyzed exhaustively to get insights about the contact center’s performance, its customers as well as the agents. Once these details are available, it gets easier to formulate an improvement plan and implement it to attain the required performance level.

While investing in speech analytics software might seem to be an expensive affair, it definitely leads to positive outcomes and relevant results.

Myth 7: Speech Analytics Software is Too Complicated to Use

Fact: It is quite natural that installing any software, including speech analytics, is a tough task. This, in turn, makes many people believe that it would also be difficult to maintain. But, this is not completely true especially in the case of speech analytics software.

The software is extremely powerful and only needs a windows-based system and a starter guide to install. Once done, the tool is ready to use and provide one with safe and secure access to audio files and the relevant outcomes.

Myth 8: Speech Analytics Software is Super Expensive

Fact: At large, many contact centers believe that speech analytics software is available at extremely high costs. And therefore, they refrain from using it to avoid the unnecessary burden of cost and expenses. It is important for these organizations to know that the software is also available in the market at economical prices.

All you need to do is analyze your business needs and choose from a range of packages available for SmartSpeech. With a Starter Pack priced at $3000/month only with benefits like 4000 hours of data ingestion, 100 percent access to transcripts, easy application building and customer sentiment insights, the other packages offered that are competitively priced include Standard, Pro and Enterprise packages.

Implement Speech Analytics To Make The Most Of Your Call Data

With speech analytics software, it would get easier for the contact centers to get the most relevant information out of their calls. Therefore, it is important to have the right strategy in place. Always remember that speech analytics software is a smart tool and does not depend solely on human intelligence. It simply conducts call data analysis and benefits one with such insights that are relevant to their business domain.

If you plan to implement the best speech analytics software at your contact center or have doubts about using it, write to us info[at]smartspeech.io and our experts will help you in the best possible way.