How to Deploy Analytics for Competitive Advantage

As the main point of contact between your organization and its customers, the contact center offers a significant opportunity for competitive differentiation. Today’s customers demand an outstanding experience in exchange for their loyalty, and speech and text analytics play a key role in enabling your organization to deliver on those demands.

“AI-Enabled Contact Center Analytics for Dummies,” a NICE Nexidia special edition of the popular “For Dummies” book series, explains analytics and details ways you can deploy them to make your contact center more effective than your competitors’. Analytics encompasses both speech and text analytics. Speech analytics is the capability to provide a categorical analysis of recorded phone conversations between a company and its customers; the most basic applications enable you to spot and categorize words or phrases in real time or in recorded conversations, then analyze them. Text analytics allows you to break down unstructured text documents into chronological, human-readable format such as chats, texts or emails, and it can be used for voice of customer, social media monitoring and voice of employee applications.

“AI-Enabled Contact Center Analytics for Dummies” offers contact center leaders insights in several key areas:

• Understanding omnichannel interactions: Speech analytics isn’t enough. Text analytics is equally important, because your agents’ interactions with customers don’t take place solely on the phone -- your customers are probably already taking advantage of chat or email from your website or interacting with your organization via social channels.
• Using analytics to tailor quality management to your needs: How customers perceive your organization is directly related to how well your contact center agents perform in their roles. Analytics helps you gain a competitive advantage by improving quality management and enabling you to align quality processes to drive the business results you seek.
• Powering speech and text analytics with AI: Acoustic and language models, sentiment analysis, behavior modeling, customer journey analysis and predictive behavioral modeling enable agents to personalize customer interactions.
• How AI is being used now to transform the contact center: AI allows contact centers to transform manual processes into a fully automated, adaptive agent performance program that can drive significant improvements in customer satisfaction. Other applications currently in use include complaint identification and fraud prevention.
• How to deploy analytics in the contact center: A few key steps can help ensure your success.
  • Identify the key players; typically these include the people responsible within your organization for customer satisfaction or experience in addition to regulatory compliance.
  • Ensure organizational and staffing requirements -- don’t forget to take any remote workers into account.
  • Build a proof of concept that starts with clear objectives for what you are trying to achieve.
  • Decide between cloud or on-premises solutions; the cloud enables greater agility without requiring you to have the infrastructure in place to maintain or support software.
  • Get help from the experts; managed services can be an effective way to gain access to technology expertise and industry knowledge.
• Real-world success stories that showcase how companies from Alliance Data and business process outsourcer CSU to Banco BMG and Northwestern Mutual have leveraged analytics to drive lasting loyalty, improve customer intelligence, create happier customers, identify trends in customer experience and more.