As organizations scale their customer experience (CX) operations, the demand for analytics and intelligence solutions is on the rise.
Independent analyst firm Quadrant Knowledge Solutions recently evaluated top vendors within this market for its SPARK Matrix for Speech Analytics, 2022. CallMiner was ranked as a leader in this report, based on key parameters around technology excellence and customer impact.
According to the report, “CallMiner provides conversation analytics to improve business performance by allowing companies to identify areas of opportunity to drive business improvement, growth, and transformational change more effectively.
“The speech and text-based conversation analytics improve customer interactions, reduce costs, and deliver deeper insights into the customer experience.”
The report also called out key differentiators for CallMiner’s solution, including AI-driven search, call transcription accuracy, and real-time and post-call analytics that help organizations drive actionable business improvements.
Factors Driving the Growth of the Conversation Intelligence Market
As the sheer number of customer engagement channels increase, many organizations struggle to surface trends from within their customer conversations.
This means organizations aren’t leveraging customer insights to inform business decisions, from how to more effectively improve operational efficiency in the contact centre to uncovering insights that can inform product development.
Conversation intelligence solutions like CallMiner analyse 100% of customer conversations and apply insights to a broad range of business scenarios – spanning the contact centre, marketing, sales, product and HR teams.
According to the SPARK Matrix report, “the primary growth driver for [speech analytics] is identifying reasons for customers’ concerns and queries through advanced analytics gained from this platform.
“Companies are more inclined toward adopting speech analytics as it helps them analyze market trends and growth opportunities and take the appropriate actions to reduce costs by managing unproductive calls.
“Furthermore, technological advancements and embedding cloud analytics to provide accurate risk management are also driving the speech analytics market. Thus, the platform offers deep analytics, newer avenues, plans for the future, and critical insights for increasing the efficacy of businesses.”
CallMiner Delivers Critical CX Insights
The SPARK Matrix notes CallMiner’s strengths in delivering actionable insights from customer conversations – both in real time and post-interaction. This is particularly important as organizations look to act on unsolicited customer feedback.
While solicited feedback mechanisms such as surveys or reviews are important, they capture only a fraction of customer insights. Unsolicited feedback offers a broader, richer picture of the Voice of the Customer, particularly when combined with other customer data points that exist across any given enterprise.
According to the report, “The company enables users [with] machine learning algorithms to accurately convert customers’ voices into actionable insights with unique categorization that resolves intent and sentiment from ambiguous language.
“It also offers automatic coaching of agent interactions to monitor, understand, and optimize agent performance at scale. With deeper insights into agent-customer interactions, supervisors can identify performance trends, target behavior for guidance or reinforcement, and create a culture of improvement.”
This culture of continuous improvement extends far beyond the customer contact centre. Many CallMiner customers leverage customer insights to improve their sales and marketing effectiveness, as well as establish ongoing customer feedback loops for product innovation.
Want to learn more about how CallMiner stacks up against the competition and why we’re a leader in the market? Download your complimentary version of the SPARK Matrix for Speech Analytics, 2022 to get the full analysis of CallMiner’s features and benefits.This blog post has been re-published by kind permission of CallMiner – View the Original Article
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