InSpeech Analytics the world of Speech Analytics, we understand that context is everything. Words are great, but to get to actual meaning, you have to look at entire phrases, which provide essential context.

In that vein, I want to put a little context around a recent award that Genesys (via our acquisition of UTOPY) just won. Speech Technology Magazine recently named Genesys as a leader in Speech Analytics in its Market Leaders Awards. The report specifically called out the solution’s accuracy and functionality. “Utopy [Genesys] provides a best-of-breed solution with the best analytics for voice and text that I’ve seen,” says an analyst in the report. Read the article on the Speech Technology Magazine website here.

The Market Leader Award on its own is wonderful – but the context makes it even more interesting, including:

  • Rapid growth in the Speech Analytics market
  • New capabilities to make analytics actionable through integration with Genesys

Speech Analytics are hot

UTOPY has been leading its market since pioneering the first speech analytics solution for business purposes in 2002. Our patented “Speech-to-Phrase Recognition” technology continues to outperform other Speech Analytics approaches in accuracy and completeness of meaning recognition.

But timing is everything – and now is a particularly exciting time to be in a leadership position in this market. According to research by DMG Consulting cited in the article, the Speech Analytics market is growing by 20 percent a year.

Why? Because in an age of big data, people realize that customer interactions are an invaluable source of business intelligence and insight. You can mine and analyze these interactions for many purposes, including:

  • Discovering customer satisfaction trends and problems
  • Optimizing agent performance and training
  • Monitoring/proving compliance in regulated communications

If you’re considering Speech Analytics, the adoption of Speech Analytics around you should be an incentive. You can gain a competitive edge by taking action early.

Making Analytics Actionable

The integration of our highly reliable Speech Analytics into the Genesys Customer Engagement Platform opens up a whole new world of possibilities. For example, adding market-leading Speech Analytics to cross-platform interaction management creates opportunities for automatically taking actions to optimize workforce performance and improve the customer experience.

To learn more about Actionable Analytics, I invite you to attend a Webinar that Eric Tamblyn, our VP of Global Innovations, is presenting on Monday September 16th at the “CRMXcellence Awards” Virtual Conference hosted by CRMXchange. Follow the link to find out more and register for the webinar, “Best Practices in Making Analytics Actionable”.

Time to jump on the bandwagon

For an example of what’s now possible, take a look at the recently-announced Genesys Actionable Analytics.

This is an exciting time to be getting involved with Speech Analytics. Companies are starting to realize significant benefits by harnessing the insights hidden within their conversations.

I’ll be writing more about these applications in future blog posts. I’d love to hear ways that other businesses are using Speech Analytics – or dreaming of using them.

Feel free to share your stories with me in the comments section below or contact us today to see a demo!