Speech analytics is rapidly becoming a must-have technology for businesses, suggests research. It is proven to unlock benefits in a variety of quantifiable areas – from driving customer satisfaction (49%) to increasing productivity (40%) and enabling marketing efforts (21%). A major reason why organisations are eager to invest in speech analytics is that it entails very little risk: the technology sits as part of your existing tech stack, adding efficiencies without requiring a restructuring of processes. That’s why investment in speech analytics solutions, between 2021 and 2027, will grow to reach $4.17 billion.
Here is a roundup of the leading companies providing speech analytics solutions in 2021, as well as a mention of emerging disruptive players
- Aspect – A contact centre solutions and services provider that offers speech analytics as part of its workforce optimisation suite
- CallMiner – A specialised conversation analytics company that uses speech analytics to uncover insights from multichannel customer interactions
- Clarabridge – A customer experience analytics and management provider, using speech analytics for transcription, text, and sentiment analysis
- Cogito – An advanced AI solutions provider for the contact centre; its flagship product, Dialog, leverages speech analytics to improve performance and QA
- Genesys – An end-to-end cloud-based contact centre, using speech analytics to evaluate call recordings (includes text analytics capabilities)
- Invoca – A conversation intelligence solution provider, applying speech analytics for live customer interaction analysis as well as recorded call analysis through Signal AI
- NICE – A customer experience and service management company, with a dedicated speech analytics offering for mid-market contact centres called Uptivity
- OpenText – an information management company, with solutions that utilise speech analytics to discover customer intent and VoC from multichannel interaction data
- Tethr – An AI-powered conversation intelligence platform that replaces traditional feedback tools like post-call surveys, with speech analytics technology
- Verint – A comprehensive customer engagement solution provider offering AI-based speech analytics as part of its VoC solution and workforce optimisation suite
- Daisee – A voice analytics and contact centre quality assurance solution, with AI and speech analytics as its core value proposition
- EvaluAgent – A quality assurance and agent performance optimisation platform, incorporating speech and text analytics into its call scoring, transcription, and CX assessment capabilities
- Observe.ai – A contact centre AI provider, applying speech analytics to evaluate agent performance and unearth coaching insights informed by real-world calls
- VoiceAI – A voiceprint recognition and AI-based voice solution provider, using speech analytics for security and CX enhancements use cases
- Enthu.ai – A purpose-built solution that equips contact centres with advanced voice capabilities for quality assurance, agent performance evaluation, and customer experience assessment
As you can see, speech analytics solution in 2021 addresses a wide range of use cases from QA to customer intent discovery and more. You could also choose between a complete contact centre platform like Verint and Genesys, or go for a specialised tool like Enthu or Daisee instead. Make sure that the solution you choose has a >75%-80% accuracy rate, and takes measures to proactively mitigate false positives.
