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Analytics

Learn how Speech Analytics and Desktop Analytics help you get more insights into contact center performance

Call Center Intelligence Hints, Tips & Best Practices

Call center intelligence is critical to call center performance. The more you know, the better idea you’ll have of how well you are meeting your objectives. And since this is important information, it should be delivered in real-time, not at the end of the shift or the day.

Proactive analytics makes this possible, with the right technology in place. However, too many call centers still lack the capability to track and measure key performance indicators (KPIs). Without this vital data, forecasting, scheduling and staffing become much more difficult – and cannot be achieved with the same economic efficiency.

Find out more about call center intelligence in the following blogs and articles. Or, click here to learn how analytics solutions from Monet can deliver valuable intelligence data. Still have questions? Search for answers here.

How Speech Analytics Boosts Customer Service

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Do you really need speech analytics at your call center? That depends:

Would faster recognition of caller intent improve service?

Do you want to know what is having the most significant impact on your customer relationships? 

Do you want to boost the operational efficiency of your call center? 

If the answers are yes (and of course they should be!) then speech analytics is right for you

There is one more benefit that deserves special mention – savings. With speech analytics your agents can reduce the number of calls and repeat calls, as well as the length of the calls they receive. Along the way you’ll also identify processes that aren’t cutting it anymore, and find ways to make them more efficient. 

Is there a catch? Just one – to make the most of speech analytics, it should be deployed within a workforce management solution that can analyze and disseminate call center data and deliver analytics insights into the KPIs that matter most:

First-call resolution: By analyzing past customer interactions, patterns will emerge that will indicate to agents why this call is happening, perhaps even before the customer provides an explanation. 

Average handle time: when speech analytics identifies and removes recurrent issues, handle time drops. 

But wait, there’s more!

Yes, this is starting to sound like a late-night infomercial. But speech analytics really can play an important role in so many everyday call center functions. 

It can be integrated into your coaching to improve quality monitoring and agent performance. 

Introducing a new product or marketing campaign? Speech analytics can also pick up key words and phrases that reveal how well it’s going over with customers, and whether some course adjustment would help.

Questions? Contact us – we look forward to letting you know about Monet’s speech analytics tool, and what it can do for you.  


More about speech analytics

Speech Analytics isn’t Just Important, It’s Essential

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In a perfect world, all of your agents would always say the right thing at the right time on every call, practically guaranteeing a positive outcome. 

Impossible? Perhaps. But with real-time speech analytics, call center managers and agents have a tool that increases the likelihood of customers being paired with the agent most likely to answer questions and provide optimal responses and assistance. 

This level of response is even more critical now that customers have other methods available when contacting a company. Many will first inquire about an issue via email or a Facebook post. If that doesn’t work, a phone call is viewed as the last and best option, and that customer will expect to speak to someone with the knowledge and authority to take care of the problem. 

For the agent, this challenge becomes easier with a tool that delivers historical information about that customer in real time. That is what speech analytics provides. 

But this is no one-size-fits-all solution. Every customer is different, and even two customers who bought the same product and have exactly the same question may not benefit from the same type of response. With speech analytics, agents can change scripted responses based on speech cues, tailoring the discussion so it better matches the caller’s expectations. 

Typically deployed as part of a workforce optimization (WFO) solution, speech analytics has become a primary driver of performance and quality monitoring improvements. Such capabilities have long been limited to only the largest contact centers with the largest operations budgets. But the advent of cloud-based WFO software has brought these sophisticated solutions within the reach of small and midsized facilities. 

The Monet Software version of speech analytics and desktop analytics is part of our award-winning WFO Live product. Both platforms deliver detailed, data-driven insight into daily call center operations and customer behavior, but without the significant investment that such benefits used to require.



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Call Center Week Wrap-Up: The Ascension of Analytics

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Another Call Center Week has come and gone, and once again Monet was proud to attend, to interact with industry professionals, and to provide demos of our advanced software solutions that improve contact center efficiency.

Beyond the opportunity to network and catch up with old friends, the days we spent in Las Vegas also provided insight into one topic that emerged as the most talked-about, by both the event's speakers and attendees mingling on the convention floor: Analytics.

We have talked about analytics in previous blogs, and no doubt other companies have as well. At Call Center Week, the opportunity was there to move beyond discussion and actually watch how analytic solutions function. Seeing is believing, as they say, and demos to Monet's analytics directly addressed the theme of this year's event: "From Personalizing to Predicting the Needs of the Customer."

Contact center professionals that visited our booths were able to discover first-hand how Monet could help them achieve a more personalized customer experience, and gain additional insights through analytics that helped maximize the effectiveness of every customer engagement.

At this point there isn't any debate about the benefits of analytics: any hesitancy about adding these capabilities came mostly from smaller call centers that were concerned about the cost, or worried that so much additional data might be confusing to collect and decipher. 

We explained to these company reps how our analytics solutions are incorporated into a workforce optimization suite. This way, it's easier to place the information in an appropriate context, so it yields the type of intelligent insight that helps companies improve service quality and save money.

At a time when customers have become more demanding given the technology options available, contact centers need every tool they can find to meet these demands, and even to anticipate them when possible. That is one of the advantages analytics provides.


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Using Speech Analytics for Agent-Customer Personality Matches

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In previous blogs we have discussed how speech analytics makes it easier for contact centers to route calls to the agents best suited to handle them, based on the nature of the customer’s inquiry. Some agents are better at dealing with returns, for instance, or explaining how a product works, or leveraging an upsell opportunity.

But there is another benefit to speech analytics that can also improve customer engagements, and that is to match calls to agents based on personality. 

We all have different traits as people and usually we gravitate toward others who share those traits. This works in business as well. People who are more quiet and contemplative are not going to be as receptive to a loud, aggressive salesperson. Such traits are obvious in a retail environment, but over the phone finding the right match requires the type of insight that only speech analytics can provide. 

Before we even get to that step, however, you need to know what types of personalities you have available to you on each agent shift. Hopefully, a good mix will occur naturally – some will be more outgoing and friendly; others will be more reserved and “all-business.” You don’t want to have too many gradations here – start with simple introvert and extrovert classifications. 

Now you’ll need to route calls appropriately based on the customer’s personality. With call recording you can review past engagements and gather enough insight into each customer to place them in one of these behavioral categories. Then, the next time he or she calls, you’ll know which agents have a better chance of making them happy.

Why is this important? The improved likelihood of a rapport between agent and customer may result in faster calls, high call resolution and more sales. 


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Choose the KPIs That Matter Most

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Every contact center strives toward the same operating efficiency and customer service goals. However, each one is also unique, and faces its own specific operating challenges. 

The establishment of key performance indicators (KPIs) is the first step toward consistent performance. KPIs, which are optimally monitored and measured by a workforce management solution, provide the data that fuels analytics, testing, development, efficiency, and productivity. 

There are standard KPIs for every contact center, and they are all important. It is the manager’s job to focus on those where improvement is needed most, so discussions can begin on how to make that happen. 

Common contact center KPIs include:

Hold times

Calls made per agent, per day

Call response times

Leads generated per hour

Average handle times

Agent talk times

Average wait time for agents

Once again, the main purpose of KPI establishment and analysis is to create clearly defined goals for improving efficiency and service at the contact center. It is much more difficult to achieve cost reduction or boost sales without knowing how many calls are taken per hour or per shift, how long they last, and how many result in a sale. 

When you have your goals established, don’t keep them a secret. They will be created by managers but must be disseminated to every agent to keep them on task throughout their shift. 

And of course, KPI tracking becomes much easier, as well as more accurate, with a workforce management solution in place – preferably one that is cloud-based, so there is no issue with monitoring remote agents, and the contact center can avoid maintenance costs, hardware costs and software upgrade costs. 


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Making the Most of Speech Analytics

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Have you added speech analytics to your contact center’s capabilities? 

It’s worth considering – merging call recording with speech analytics can significantly boost lead conversion rates, as well as increase customer retention levels. At the same time, it’s a way to be 100% assured that agents are always in compliance with federal and industry regulations. 

If and when you make that decision, here are some guidelines that can ease the implementation process and optimize the results this powerful solution delivers. 

Prioritize Goals

Speech analytics can do a lot for your contact center – but it’s best to start by specifying one or two areas where attention is most needed, and setting goals for improvement. Don’t try to do everything at once. 

Training

Make sure your agents and managers and trainers know how to leverage speech analytics capabilities and the data it delivers. It may take some time before the language and tone of every customer call can be accurately analyzed, but once you’re there the results will be very beneficial.

Motivation

Dispel the notion that speech analytics was added to keep a closer eye on how agents do their jobs. Educate your agents on how this tool can help the business achieve its corporate goals. 

Maintain Quality Monitoring

Speech analytics can enhance your quality monitoring, but it shouldn’t replace it entirely. 

Patience

It will take time, and some trial and error, before speech analytics becomes fully integrated into your best practices. Don’t look for perfection in the first week or even the first month. 



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Want to Reduce Agent Attrition? Try Speech Analytics

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We tend to think of speech analytics as a tool with a number of contact center performance benefits. Transforming voice data from customer interactions into business intelligence delivers the capability to improve:

Agent performance

Customer experience

Regulatory compliance

First call resolution

Sales effectiveness

Issue resolution

Overall quality of service 

You’ll notice that “reducing agent attrition” is not listed among its attributes. But when you take a closer look at the causes behind agent departures, it becomes clear that speech analytics can make a difference here as well. And not a moment too soon, as many contact centers suffer costly, time-consuming attrition rates of 50% or more every year. 

Why do agents leave? Some are frustrated by ineffective training, or evaluations that do not reflect their actual performance. Some view the job as one that should lead to additional opportunities and incentives that never materialize. 

But what happens when agent scoring is handled through speech analytics software? Supervisors don’t have to devote the same amount of time to agent evaluations, and coaching sessions can be more precisely tuned to address specific issues for each agent. Better training results in better performance, and more individualized attention results in agents feeling more valued by the company. 

When agents are better trained and better motivated, customers receive better service. That makes it easier to offer incentive programs and income growth opportunities to outstanding performers. 

The cost of replacing an agent who quits or is fired can be as high as $8,000 – half of that for hiring, the other half for training. At a 250-agent contact center with just a 15% attrition rate, that adds up to more than $300,000 every year. In addition to its many other virtues, speech analytics can help reduce this punishing annual expense. 



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Analytics, and Getting to Know Your Customers Better

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What is it that your customers really want?

That question is (or should be) the departure point for so many decisions that impact contact center operations. If you don’t know what they expect (or these days the better word might be ‘demand’) from your business, it’s a lot more difficult to give it to them.

You can ask them, of course, with customer feedback surveys, but analytics provides more detailed and accurate insight into every aspect of the customer experience. Used properly, analytics deliver a proactive view of current and future trends that will impact forecasting, product development, marketing and other operations. 

Imagine: Analytics identifies a customer that, from their words or actions, is about to sever ties with your company. A special offer personalized to their needs, presented during this critical time, might save the relationship. 

Monet offers both speech and desktop analytics solutions that provide an array of customer information; often at the time it is needed most. As agents speak to customers, analytics can offer such important data as their purchasing history, their value as a customer, their temperament, and the outcome of their previous contact center experiences. Knowing this, an agent can react accordingly, or perhaps even route the call to an agent that worked well with that customer in the past.  

And while analytics has traditionally focused on calls, the same strategy can be used for social media (now the first choice for millennials), as well as self-service and digital channels. You may not be able to sense mood from a customer’s voice this way, but contact patterns and word choice can be analyzed to determine the most appropriate next step. 

Today, however, more than 50% of contact centers still lack any social media capabilities, much less the analytics that make these channels important sources of customer data. 

Is it time for your contact center to discover the benefits of analytics?





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Five Reasons to Be Thankful for Speech Analytics

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With Thanksgiving coming up, November is a time to be thankful for many things that make our lives easier and better. Many contact centers would count a speech analytics solution in this category. If you haven’t yet added a speech analytics tool to your business, here are five reasons you might be saying ‘thank you’ for it next year – or even sooner. 

1. It Turbocharges Customer Data Collection

Speech analytics delivers critical business intelligence that boosts both agent performance and the customer experience. Traditionally the same type of data was collected by call recording. But caller patterns that would take weeks to learn with that effort can now be achieved in minutes. 

2. Real Time Reactions

Speech analytics generates automated alerts triggered by voice data, whether that’s the use of profanity, use of the word “cancel,” or the mention of a specific new product or service. By being alerted to these calls in real time, managers can react to impact their outcome, which could mean the difference between keeping and losing a customer.

3. Better Compliance

Should you ever need to demonstrate how your contact center is meeting established criteria for keeping credit card information safe, speech analytics can quickly search through thousands of calls and highlight any in question by locating the precise language used in each conversation. Even single words can be flagged and calls brought up for review. 

4. Improved Procedures

Speech analytics also delivers additional customer service benefits that impact agent training and overall efficiency. By exploring not just what is said on a call but how it is said – specifically the customer’s demeanor and choice of words – it is easier to discover which contact center policies and procedures might need to be changed. 

5. Cutting Costs

One public utility in Las Vegas, Nevada used speech analytics to deliver insights on delinquent customers. The data generated led to a change in procedure on how and when these customers should be notified. The result? More customers paying their bills. In one year the savings in cost avoidance in having to pursue these delinquent accounts reached $3.6 million. Speech analytics also delivers better marketing intelligence in other areas at a fraction of the cost of traditional methods. 



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WFO and Analytics: A Perfect Match

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Their functionality may be different but the objective of workforce optimization (WFO) and analytics, when employed in a contact center, is effectively the same: to provide customers with a more positive experience. 

And at a time when customer experience has become a greater differentiating factor in what separates one company from another, both WFO and analytics can play a vital role in maintaining customer loyalty, and attracting more customers from positive posts and responses viewed on social media. 

With workforce optimization, contact centers can automate such important functions as workforce management, call recording, quality management, screen capture, performance management and tracking key metrics. Analytics is more customer-centric, providing centers with insight into the customer types and the nature of each inquiry, so calls can be routed to the agent best suited to deal with them. 

As both tools work toward the same goal, doesn’t it make sense to acquire them in a way that assures they will efficiently work together? 

At Monet, our speech analytics and desktop analytics are incorporated into our WFO Live solution to help maximize agent productivity and performance. For basic call centers or contact centers that offer omnichannel interactions between agents and customers, this powerful alliance of WFO and analytics can better meet your customer needs, help you to better utilize your resources, and improve service levels.



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How Much do Agents Need to Know about Analytics?

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Analytics is one of the primary drivers for measuring contact center performance. With the remarkable range of data now available through workforce management and workforce optimization solutions, as well as speech analytics and desktop analytics tools, managers now have the information they need to find out where the business is excelling, and where improvement is possible. 

However, in most cases any change in performance starts at the agent level. And agents are not likely to be familiar with the way analytics work. Does this need to change?

First Option: Crash Course in Analytics

Should a contact center consider adding an understanding of analytics to agent training? One could argue that knowing the reasons behind call center policies on how agents engage with customers might lead to a greater understanding of why these techniques are important. 

However, many agents may not have the background or education that would help them grasp the intricacies of analytics. Generating and interpreting data may be best left to managers and executive-level staff.  

Second Option: Training Based on Analytics

When a person starts a new job, whether it’s in a contact center or a fast food franchise, a manager will familiarize the new hire with the way their job should be performed, and how to follow company procedure. It’s not necessary for the employee to know why these procedures are in place. 

This may be a better way to incorporate analytics into initial training and regular coaching sessions. Agents are often instructed to provide upsell opportunities to customers; analytics can provide insight into which customers should receive which offers. The results of this analysis is shared with agents so they will know how to proceed when these opportunities arise – but it is not compulsory for them to know why Customer A is offered an extended warranty, while Customer B receives a different pitch. 

What if an agent asks questions about how these decisions were made, and shows a genuine curiosity in the way analytics work? Encourage these interests – this might be someone who could be groomed for a management level position.  



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(Re) Introducing Desktop Analytics

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Speech analytics has been a hot topic within the contact center industry over the past 2-3 years. But desktop analytics, which has actually been around longer, does not always get the attention it deserves. Monet offers speech and desktop analytics solutions, and both can play a pivotal role in the efficiency of your contact center. 

Perhaps this technology needs a new introduction to a market this is flooded with analytics ideas and solutions. This is one that merits your attention. 

Where speech analytics is primarily customer-focused, desktop analytics (DA) delivers insight on your agents and your processes. It captures and analyzes all agent desktop activities in real time, and it improves process automation and workflow. 

What makes (DA) unique is not just the capability of turning a spotlight on system, operational, or staff-related issues; it is the system’s ability to provide guidance and improved process automation, so these problems can be solved without scheduling meetings and taking time away from the day-to-day challenges of running a contact center. 

Desktop analytics is available as a standalone product, but our DA solution is one that works within and enhances our WFO suite. It is yet another tool available to managers trying to figure out why some processes have slowed and where issues need to be fixed. It also provides a way to confirm findings collected from other means.  

Are you Ready for Desktop Analytics? 

If you want more transparency into how your contact center functions, what agents are doing at their desks, whether your business is in compliance with government or industry guidelines on information gathering, and where your procedures are falling short of expectations, desktop analytics may have the answers. 



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How One Public Utility Saved $3.6 Million with Speech Analytics

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Speech analytics has not yet become standard equipment at contact centers, but with success stories like this one, it’s only a matter of time. 

In Las Vegas, Nevada, the Las Vegas Valley Water District added speech analytics and it proved particularly beneficial at delivering insights on delinquent customers. The data generated led to a change in procedure on how and when these customers should be notified. The result? More customers paying their bills. That reduced the number of trips by service technicians to shut the water off, as well as return visits to turn it back on. In one year the savings in cost avoidance reached $3.6 million.

This is just one example of the ROI that can be achieved through a more precise identification of customer insights, made possible with speech analytics. Because the overwhelming majority of customer interactions through contact centers are unstructured, more companies are discovering the value in leveraging speech analytics to structure conversations and uncover customer preferences and needs. 

But right now such solutions used in less than 25% of all organizations. This market is projected to expand significantly in years to come.  

Sometimes, the voice of the customer is saying something without actually saying something. Speech analytics makes it possible for contact centers to place conversations in context and understand the meaning behind them. 

With Monet WFO Live’s speech analytics capabilities, contact centers gain even more insight from their call recording solution. With automated alerts triggered by voice data, managers have access to critical business intelligence that boosts both agent performance and the customer experience. 



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Speechless? Step Up to Speech Analytics

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Many organizations have told us about the difference that Monet Speech Analytics has made in the efficiency of their contact centers, and how many customer relationships have been improved or saved by the rapid response to real-time situations that it makes possible. 

If you haven’t considered adding speech analytics to your call center intelligence tools, here are just a few ways it can enhance the experience you provide your customers. More...


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Desktop Analytics = Greater Insight

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Every technology investment for a contact center should have a clear purpose behind it. There are a number of benefits associated with a desktop analytics platform, but if they had to be summed up in one word, that word might be “insight.”

Call center intelligence is all about gaining insight – in this case, into the important relationship between contact center agents and the technology they use every day to deliver the level of service that both customers and managers expect. 

Desktop analytics offers call center managers a way to capture and analyze user activity at the desktop level. Performance is automatically monitored and measured against a defined business workflow, to determined how well key metrics are being achieved. More...


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Call Center Analytics and Metrics

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“Analytics” is one of those terms that many business people use, even while they may disagree on its exact definition. In fact, one Gartner survey asked users what it means and they received a range of answers in response, from “online analytical processing” to monitoring call centers, to data mining.

For the purposes of this paper, we will define analytics this way: It is the discovery and communication of meaningful patterns in data. It also refers to the drawing of conclusions from the examination of that data. The objective of analytics is to describe business performance, and both predict and improve future performance. More...


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Monet Metrics Receives 2012 Product of the Year Award

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We are delighted to announce that Monet Metrics, our cloud solution for call performance metrics, has been selected by TMC’s Customer magazine as the 2012 Product of the Year.

Monet Metrics is a call center analytics and agent performance management solution to track, analyze and manage agent, group and center performance through dashboards, reports, alerts and scorecards. Call centers can quickly and easily optimize and manage all aspects of their workforce with one affordable solution. More...


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