“Speech Analytics would be a natural fit for Business Intelligence (BI) vendors that are already geared to use natural language querying and audio or video data mining. Other BI vendors may have to do more work to make it fit, but it still makes sense to do so”.
Gartner Research showed that more than 90% of customer conversations are based on the phone, generating a huge amount of valuable data to companies. Customer phone calls are up to 56 million hours daily; that is about 400 billion words spoken. According to MarketsandMarkets Research, Speech Analytics is going to become a billion dollar industry by 2020. Speech Analytics software can take hours of existing support calls, using Artificial Intelligence (AI) to divide multiple speakers on a call, scan the emotional state of callers by analyzing for cues in voice pitch and tone, and reveal mentioned keywords. AI-powered speech analytics vendor VoiceBase collaborated with data visualization and BI market leader Tableau. Call center recordings, using VoiceBase’s solution, can be analyzed and then made available as a data source in an enriched text format that Tableau Desktop can use to surrender rich visualizations. As a result, enterprises have access to insights like Natural Language Processing (NLP) to surface keywords and topics that make recorded content discoverable. With AI and Machine Learning technology, conversations need to become quantifiable and actionable data streams, which are then categorized into several data feeds. The added value for any BI vendor is higher, in the case of Speech Analytics, because this form of data has been limited to call center activities. Combining the data of this call center with other data renders makes more comprehensive and nuanced outputs for businesses to act. Speech Analytics can be extended beyond the call center so that even more data can be collected and mined.