Speech analytics & text analytics with software: How to lower your costs and increase your customer satisfaction
In large companies there are thousands of customer calls and messages from customers every day.\n
- Companies offer various channels for their customers, e.g. contact forms, chats, social media and call centres.
- These customer contacts contain valuable information about your customers.
- What to do with all this information?
With our software for speech analytics and text analytics NICE Nexidia
- you receive an analysis tool that allows you to conveniently examine all that data – e.g. call center calls, emails, chat history, survey responses. It helps you, for example, to identify drivers for customer satisfaction and increase your customer satisfaction.
- you reduce your costs: Find out where problems occur in your processes (such as long waiting times, too long or negative conversations). With the information gained, you can easily and quickly resolve these problems and work more efficiently.
- you receive an early warning system for problems such as customer churn or attempted fraud: Automatic reports and email alerts inform you if something is going badly or not in compliance with the law in your call center.
What is NICE Nexidia speech analytics?
Nexidia is a technology and software for the automatic analysis of speech and text. It is used in large call centres and to analyse customer feedback. Customers using Nexidia are mainly from the financial, telecommunications, retail and insurance sectors.
Technology - Phonetic analysis of customer calls with speech analytics
NICE Nexidia can be deployed as a cloud solution or installed on-premise at your premises.\n
- To record calls, your existing voice recording system or one of NICE\’s is used.
- In batch mode, the system runs analyses every night that are available the next morning.
- Live analyses are also possible. In a “Proof of Concept” we check whether the use of live analyses is profitable in your application.
The solution is based on the analysis of phonetic language characters.
- Calls are converted into phonetic speech characters.
- pitch of the voice and the volume of the spoken word are also analysed.
- Even ambiguous words such as “church” and “cherry” or “coast” and “kissed” are recognized.
This technology achieves very accurate results with up to 73% accuracy. This makes NICE\’s technology the market leader, as confirmed by Forrester Research.\n\nConventional systems usually work with a conversion of the spoken word into text. These speech analyses often only achieve a maximum accuracy of 43%.
The NICE Nexidia speech analytics at a glance: How to uncover weaknesses in your call center, improve the overall customer experience and do something for your cost optimization.
Fields of application in your company
Cost reduction through voice analytics - telecommunications companies, technical support
Imagine you run a telecommunications company. Every time a particular Internet problem occurs, one of your employees has to drive to the customer\’s site to repair the damage. This costs you a lot of time and money. With NICE Nexidia, you analyze all customer calls in your call center and find out where the problem is. You can train your employees to solve the problem together with the customer on the phone. You save costs and your customers are happy that their problem can be solved so quickly.
Reduce costs by analyzing customer call idle times
An automatic speech analysis enables you to identify idle times for calls from your customers, for example. Do your agents have to search the CRM system for customer data over and over again and lose valuable time? Or is one of your software solutions stuck, so that your employees have to wait unusually long in the customer interview? With NICE Nexidia you can identify these weak points and search for the causes. If they are eliminated, your employees will save time – and the company a lot of money!
Compliance – Preventing fraud and corruption
NICE Nexidia analyzes the calls in the call center for suspicious or illegal activities. This way, for example, cases of bribery can be uncovered directly and the company can take countermeasures.
Increase efficiency of sales activities
Every call center has them: Agents who sell much more than others. But what do these employees do differently from their colleagues? With NICE Nexidia, you can systematically identify and analyze particularly successful calls. For example, the duration of the conversation, the words used or certain strategies are examined in the conversation. You can also make the results available to other employees as best practice. In call centers, this has also reduced the fluctuation among call center agents – because successful employees are more satisfied and stay longer.
Predict and reduce customer churn rates
The behavior of your customers seems unpredictable and they quit for no apparent reason? Systematically find out what happened before a termination: an automatic voice analysis allows you to identify events that result in customers terminating particularly often. To do this, NICE Nexidia searches for patterns that have occurred in customer phone calls or customer contacts. You get planning security and know what you have to work on to avoid customer churn in the future. Often there are very simple things like missing support possibilities on the homepage, with which you can achieve a large effect.
Increase customer satisfaction with your call center
You want your customers to be completely satisfied when they call you. Sometimes there are still problems – then it is important that you resolve them quickly. With an automatic voice analysis, you can find out where problems in the call center occur frequently: Are customer calls canceled for technical reasons? Are customers connected to the right department? How do employees deal with difficult customers? You can also include NPS customer feedback from surveys and customer surveys in a Nexidia analysis.
Integration options for speech analytics and text analytics with NICE Nexidia
NICE Nexidia analyzes data from
- Voice recording systems of call centers and contact centers
- Case Management Systems
- data warehouses
- ERP systems
- IVR (Interactive Voice Recording)
- human resources systems
- Survey tools such as Satmetrix NPS software
Customer example Big Data: “If you don\’t do it, you\’ll miss out on a lot of information” How an international bank improved its processes and customer satisfaction within a year with NICE Nexidia speech analytics
How do you find out if NICE Nexidia can save you money and increase your customer satisfaction?
If you are interested in the NICE Nexidia solution, just contact us – we look forward to hearing from you!\n
- We discuss with you possible applications in the company and agree in writing on the confidentiality of all information discussed.
- In a demo you get to know the solution.
- If you like Nexidia and would like to use it in your company, the next step is the so-called “proof of concept”: It offers you security that your investment is worthwhile.
- When you decide on the solution, we conclude a contract. This contract sets out goals that you can achieve in your company with NICE Nexidia (e.g. cost savings, upselling, reduction of the churn rate).
- You deliver data from your call center. In a proof of concept, we use your data and the software to analyze to what extent and whether your goals can be achieved. If it turns out that the software does not bring any ROI for you, the contract is void and you pay nothing.
- Success-based software – only if you achieve a proven ROI, you purchase the solution.
Also read our blog article on cost savings related to Voice of the Customer programs.
This post is also available in: Deutsch (German)