In today’s macroeconomic climate, businesses must ensure maximum return on their investments.
Every expense in a business is under the microscope. Leveraging technology to assist in remaining competitive in a fast-paced, ever-changing business environment is critical to differentiate any business.
With the rise in cloud-native communication solutions, companies like CallCabinet have revolutionised the call recording industry.
CallCabinet’s Conversation Analytics feature is offered within its call recording solution. It is designed to strengthen business growth, productivity and efficiency by providing business intelligence in near real-time from speech analytics, voice analytics, and sentiment analysis.
Craig du Plessis, VP of Analytics at CallCabinet, commented: “Driven by next-gen AI, our conversation analytics provides the ability to gather customer intelligence by capturing, consolidating and analysing 100% of customer engagements.”
“In CallCabinet’s world, this is predominantly voice calls, but we also cater for other data sources such as social media, emails, chats, texts, and more.”
“When engaging with our customers, the top four business cases we encounter from our clients are revenue management, customer (CX) and employee experience (EX), operational efficiencies, and compliance management.”
CallCabinet states that the speech analytics branch of Conversational Analytics refers to the solution’s capability of analysing the spoken word, which is done by using speech-to-text transcription.
At the same time, the voice analytics element refers to analysing the true context of the conversation.
CallCabinet refers to this as Emotional Intelligence, as this combines scoring both the emotion based on the acoustics and the sentiment based on linguistics across both client and agent.
This analysis provides insight into the speaker’s state of mind during the engagement, delivering the actual context of the conversation. Monitoring employee stress and burnout are critical to improving customer experience and employee retention.
Together these insights provide businesses the intelligence to make informed decisions based on the data that CallCabinet presents in easy-to-view visualization reports.
“In the past, business decisions were based on human emotions and experience, which are prone to problems,” added du Plessis.
“Conversation analytics provides the capability to generate quantifiable and factual customer intelligence in assisting with decision-making.
“Decisions can be based on trends or patterns identified with conversation analytics.”
All of CallCabinet conversation analytics reports are fully customisable to the client’s business requirements, focusing on both strategic and tactical reporting.
On the strategic side, it can provide trends and patterns in terms of seasonal service or product demands and consumer requirements.
On the tactical side, it provides a view into the day-to-day operations, focusing on improving efficiency and effectiveness, directly impacting productivity improvements.
Customer retention is just one of the metrics that CallCabinet’s conversation analytics has a major role in managing.
Conversation analytics can detect the client’s intent to cancel and, at the same time, monitor the process the agent follows in handling a cancellation risk.
Conversational analytics allows the business to know exactly what was said between the agent and customer, plus how it was said at every stage of the process. It means that organisations can use this information to increase customer retention.
The customer intelligence captured by CallCabinet’s Conversation Analytics engine is designed to give organisations a strategic and tactical view of their business’s performance.
The real business value comes from having a complete view into the key data sets the captured data can reveal, influencing internal efficiencies and productivity, strategic realignment, tactical adjustments and ensuring all business decisions are based on factual intelligence.”
Some examples of this include:
- The ability to improve the customer’s experience.
- Identify customer trends and patterns, enabling companies to track trends in their market.
- Improve the overall employee experience.
- Streamline workflows to increase efficiency with a direct impact on productivity.
- Enhance and focus agent evaluation and training.
- Automate quality assurance.
- Reduce operating costs of a business.
Learn more about conversation analytics by downloading the Conversation Analytics eGuide here.
