Advanced Analytics

How Speech Analytics Can Upscale the Customer Experience

Customer satisfaction has become one of the top priorities for businesses due to the multitude of options and emerging technology. Enterprises are striving to make their end-user experience more seamless, coherent, and conducive. For instance, a North American power utility enterprise informs its users about the rise in prices during the winter seasons and how they can reduce their bills efficiently. A company’s customer service team is generally in touch with customers about the ongoing market or tech changes. Advanced analytics, such as speech analytics and the predictive-intent model, has made customer service more impactful. In their article for McKinsey and Company, Bobby Dean, Arpit Goenka, Nimish Jain, and Humayun Tai share how to improve your customer services models.

Establish the Framework

There are certain vital steps to introduce advanced analytics into your customer service model. Here is how you should pursue them:

  1. Acknowledge and prioritize existing incidents – You can optimize and prioritize pre-existing customer service incidents by:
    • Measuring the potential value of incidents
    • Accumulating data and resources to empower your technical infrastructure
    • Aligning your company’s tech goals with the ongoing incidents
    • Amassing data sources to better answer customer queries and resolving their demands more efficiently.
  2. Introduce a cross-functional team. It will help your firm to integrate analytics-oriented models and business management programs effectively.
  3. Introduce operational changes to bolster your tech and management team’s performance.

Use Speech Analytics and Other Advanced Analytics Operations

When your team has worked on the foundation of customer service operations, the next step should be incorporating advanced analytics. This procedure primarily focuses on analyzing incremental data and implementing advanced analytics systems. Here are two major advanced analytics operations that you should include:

  1. Predictive intent model – When you can predict the nature of customers’ calls before they raise their concerns, it prepares you with solutions beforehand.
  2. Speech analytics – It focuses on immaculate speech-to-text conversion and text analysis. Besides, speech analytics can help your customer service management team prepare for effective call resolution.

Click on the link to read the original article: https://www.mckinsey.com/industries/electric-power-and-natural-gas/our-insights/how-utilities-can-use-advanced-analytics-to-elevate-customer-experience  

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