Conversation Analytics deploys the latest in AI for businesses to have deeper understanding of customers and drive a more personalized journey, enabling growth and improving Customer Experience
Melbourne, AU, Sept 2019 – Companies are now embracing Artificial Intelligence (A.I.), not just a tool to improve service efficiency but as means to forge a deeper relationship with customers. It is now used to augment processes across the business value chain, resulting in increased productivity and more informed and effective decision making.
There is however still a space for Human Intelligence – H.I.
In the context of Conversation Analytics, A.I. is deployed to allow us to do things quicker, faster and smarter. Take Quality Assurance (QA) as an example – long the bastion of QA staff listening to calls to assess risk, misconduct, Customer Experience (CX) opportunities and missed sales. Using this approach, most QA functions in a business AT BEST, listen to and assess 1% of their customer interactions. With 99% of conversations going unassessed this leaves an organisation exposed for wide swings in “unexploded ordinance” and by default, a massive risk for organisations.
In Australia, the regulator of the Financial Services Industry – ASIC (Australian Securities and Investment Commission), is quite rightly asking why organisations aren’t expanding their net of coverage!
Now comes the new world of H.I and A.I.
Conversation analytics armed with structures and frameworks and pre-planned search functionality is now able to scan 100% of conversation interactions for multiple behaviours and customer experience. Used as a new QA weapon, A.I can deliver and highlight interactions of risk and opportunity homing in on problematic interactions.
Enter Human Intelligence – H.I.
H.I can now target flagged interactions, deep dive into trends and spend more productive time assessing COMPONENTS of the interaction where the interaction went wrong or right! No more needing to listen all the way through 20-minute conversations to ascertain if there are issues. H.I. now armed with A.I. can focus exactly on the areas of risk or opportunity in a conversation interaction with their customer and spend more time remediating.
In a report by the MIT Technology Review, companies that pioneer the deployment of AI are now “reaping the greatest rewards, not only in terms of efficiency and scale but also in terms of customer loyalty and brand recognition from being perceived as technology leaders.”
Conversation Analytics is one of the AI-powered technologies that sees fast growth as more and more businesses turn to data adoption as means to improve CX. The solution, which marries the latest advancement in AI and Natural Language Processing, enables organisations to gain access to previously untapped rich data from voice recordings. It unlocks information from every single call that takes place in an organisation’s contact centre. This information then gives decision-makers a full scope of factors to consider, like where their customer service is excelling, and which areas need improvement.
Conversation Analytics also provides businesses with evidence behind customer experience metrics such as NPS (Net Promoter Score) and CSAT (Customer Satisfaction). In correlation with phone call metadata, it uncovers ‘behind the scenes’ of problematic calls. The solution is a simple way of finding out how to minimise negative and enforce positive drivers behind the KPIs (Key Performance Indicators).
A provider of market-leading Conversation Analytics technology, Call Journey helps businesses put the voice in the Voice of the Customer. Its AI-based processing engine, Emotive Voice Stream (EVS™), converts large volumes of audio from voice conversation into searchable text. This data can be sorted by emotion, sentiment, tone, compliance, and more. As a result, EVS allows businesses to analyse a hundred percent of their voice conversations and measure customer satisfaction that can help improve CX and drive growth for the company.
Embrace AI. Unlock the power of voice data and learn exactly what their customers and staff are saying, feeling and meaning.