Investment in speech analytics in call centers set to double

Global call center spending on speech analytics is set to double, growing from around $95 million in 2009 to $180 million by 2014 according to Ovum.

A new report by the independent telecoms analyst has found that although still an early-adopter technology, speech analytics will grow in importance over the next few years, helping businesses to improve customer loyalty and processes.

According to Ovum, spending on speech analytics will increase at a compound annual growth rate (CAGR) of 13.5% between 2009 and 2014.

The key functions of speech analytics are call categorization, emotion detection, and root cause analysis to find the key reasons that customers call a call centre. Speech analytics can be used to search for key words and phrases in order to determine whether agents are adhering to scripts. Calls can also be grouped into categories such as repeat calls or cancellations.

By using speech analytics to identify repeated issues, companies can work towards improving problem resolution strategies, create better processes and improve customer service.

More information on speech analytics can be found at www.SupportIndustry.com