The concept of business analytics goes back much further than you might think. In fact, you could argue that it extends all the way to the first time a shop owner decided to use the trends he noticed in his existing customer purchases to try and encourage better profits. Analyticsanalytics were even used by the car manufacturer Henry Ford to improve the quality control of his assembly line back in the 1900s.
Of course, analytics as we know it today has transformed significantly from the solutions we had 100 years ago. Today, the rise of cloud technology which ensures information can be collected and stored in the same unified space, the introduction of AI and speech analytics, and dozens of other evolutions has officially transformed the way customers and companies connect.
Why We're Taking Call Analytics to The Cloud
The cloud is far from being the only data management model for today's contact centres - but many experts agree that it is the best. Cloud technology and the rise of "unified communications" means that companies can load various forms of customer data into the same platform. That includes voice information transcribed into text, instant-messaging and web-chat data, and even purchasing patterns. When all your data exist together in the same place, this removes the silos that could otherwise prevent an in-depth understanding of how your customers interact with your company.
The cloud contact centre environment, such as the solutions offered by innovators like Kakapo Systems, or Tollring with their iCall Suite, allows companies to streamline the way they gather and assess data so that they can improve the customer experience at scale. It ensures that organisations can keep an eye on providing next-level support to their clients, and the other on reducing costs and maintaining efficiency. At its core, Akixi offers a call logging platform that are based on the cloud - that means you don't have any pesky software to download and install.
The Importance of Call Logging and Data Mining
One particular benefit of cloud-based analytics is the fact that it allows companies to efficiently store a host of information - including the data gathered from speech analytics. Though there are many ways that companies can improve their customer service, speech analytics now allows businesses to assess everything from purchasing trends to customer sentiment. It's no wonder that MarketsandMarkets suggest the speech analytics space will be worth $1.6 billion by 2020.
Speech analytics can accomplish a lot of incredible things. It can help to manage customer conversations and automatically sift through relevant information. The more data you mine from your company conversations, the higher your insight into everything from sentiment, to agent efficiency, and upselling opportunities. As the world begins to recognise the value of speech data, various companies have popped up, offering solutions for today's customers. For instance, the iCall Suite by Tollring is built on six core modules of analytics to assess and improve customer experience.
Gathering the right information for customer experience doesn't just create better consumer loyalty either. It also has a direct impact on the company bottom line, as it can empower contact centres to follow best practices and patterns that reduce customer churn and improve opportunities for cross-selling. What's more, because the analytics software you access exists on the cloud, there's no need to pay for a substantial initial investment. Your outgoing expenses become more manageable, allowing your company to scale as necessary throughout the year.
