Infographic: Past, Present and Future of Speech Analytics

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As analytical technology becomes more affordable, companies now have the opportunity to listen to untapped customer sentiment and recognize the underlying factors that drive satisfaction. Check out the accompanying article, "Everythings Just Speechy: Exploring the Evolution of Voice and Text Analytics"


  • 1. SpeechAnalytics ByBrittanyDavisandLorriCosentino 1 CSO Insights 2 Hubspot 3 Forrester Companies today are finding that focusing on the customer experience is a powerful strategy to distinguish their organizations, and speech analytics can help companies realize those efforts. Speech analytics has been used to improve customer satisfaction, analyze spoken words, and extract information and content. Further, speech analytics helps companies prevent and detect fraud while also identifying customer dissatisfac- tion through a customers pitch, all in an effort to improve customer retention, as well as upsell and cross-sell efforts. Below is a look at the past, present, and future state of speech analytics. Past, Present, Future To learn more about the Speech Analytics, read: Everythings Just Speechy: Exploring the Evolution of Voice and Text Analytics ByBrittanyDavisandLorriCosentino The speech analytics market is projected to continue to expand over the next several years growing by 25% in 2013 and 20% in 2014.3 The Future of Speech Analytics By 2020 the customer will manage 85% of their relationship with an enterprise without interacting with a human.4 U.S. contact centers spend $ 12.4 billion annually verifying the callers are who they say they are. 59% of calls require identity verification, but only 3% of these are handled entirely through automated processes.3 The Present state of Speech Analytics Speech analytics solutions are currently in use in 24% of all organizations, predominantly used by services, outsourcing, and finance organizations.2 89%of consumers began doing business with a competitor following a poor customer experience, up from 59% four year ago.1 Why Companies are Using Speech Analytics Speech Analytics of 86%of consumers quit doing business because of a bad customer experience.1 1 Harris Interactive 2 Contact Babel 3 DMG Consulting 4 Gartner