Investing in a speech analytics solution is a big decision for any company as it is generally linked to considerable expenses. Nevertheless, more and more enterprises today embark on this opportunity. As practice shows, they can expect a return on investment in just three to twelve months.

In one of our recent blogs, we have already  greece telegram data retold you about the numerous benefits the speech recognition and analytics software brings to organizations. Among them are the exceptional customer experience, reduced expenses, increased revenue, and minimized customer churn.

In practical terms, the solution makes it possible to reduce time spent on speech transcription and quicker perform a comprehensive analysis of the mined data.

Read how Velvetech enhanced Insurance Company’s Performance with a Speech Recognition Tech

Prior to exploring how to evaluate and choose speech analytics software, let’s recall what speech and voice analytics actually includes and how it is used to elevate customer experience or customer interactions in general.

What is Speech Analytics?

Speech analytics can be defined in many different ways, but should be primarily understood as a specialized technology that enables the process of extraction of relevant data from a real-time conversation or a recorded audio file.

This technology automates a range of operational processes, including call recording, speech recognition and transcription, search by keywords and extraction of actionable insights, conversation quality management, behavioral analysis, and other forms of data analysis.

With the aid of speech analytics solutions, all of  allows you to display ads at certain these processes are carried out at a higher speed and at a more sophisticated level than by any human-powered data mining system.

In fact, in the context of a modern-day front office or contact center, the manual collection and analysis of information are hardly imaginable. This antiquated approach would certainly require the mobilization of significant human and financial resources, making the process terribly cost-inefficient. Call analytics benefits, on the other hand, are too compelling.

Speech Recognition and Transcription

Among all of the processes mentioned above, speech recognition and speech-to-text transcription remain some of the most difficult to tackle. In the most common implementation, computer algorithms identify phonemes in a speech by comparing them with the ones existing in a particular language.

This method tends to deliver the most accurate results and is sometimes complemented by recognition of pre-defined bigrams, trigrams aub directory  or whole phrases for quicker processing. The pauses made in conversations are often used in order to distinguish speakers from one another, especially when analyzing phone conversations.

Once the recognition is complete, the program can transcribe the conversation into text and use all the accumulated data to conduct an analysis.