According to Reuters.com, “The Business Analytics Market is estimated at $44.5 billion in 2015 and is expected to reach $71.1 billion by 2022 growing at a CAGR of 6.9% from 2015 to 2022.”
The growing demand for analytics indicates enterprises from various industries are leveraging business analytics to facilitate informed decision making through interpretation and manipulation of big data. Like other business enterprises, contact centers also streamline their operations and improve customer experience using different types of analytics.
The businesses these days leverage a variety of contact center analytics – speech analytics, text analytics, self-service analytics, desktop analytics, predictive analytics, and cross-channel analytics – to analyze customer interactions, identify customer service issues and recognize patterns.
These analytics help call centers to improve operational efficiency, customer satisfaction and customer loyalty in a number of ways.
Understanding the Importance of Various Analytics Tools for Modern Contact Centers
1. Examine All Customer Interactions
The cloud-based inbound and outbound call center solutions help contact centers to collect multi-channel customer interaction data frequently. But no contact center can examine and analyze a large amount of customer interaction data efficiently without using the right analytics tools.
The analytical tools help contact centers to collect business intelligence and informational insights by examining all customer interaction data efficiently and continuously.
2. Examine Different Aspects of Customer Interaction
In addition to examining all multi-channel customer interaction data, the analytics tool also helps contact centers to evaluate various aspects of customer interaction. As noted earlier, a contact center has the option to use a variety of analytics tools. Each type of contact center analytics tool helps decision-makers to examine a specific contact center operation or customer interaction.
3. Improve Voice-Based Call Center Processes
A contact center can use speech analytics to evaluate and improve voice-based call center processes consistently. The speech analytics tools help decision-makers to understand and analyze the needs and expectations of customers by analyzing customer conversations.
They further recognize the issues or inefficiencies that must be addressed on time to improve the voice-based call center processes. Hence, speech analytics help contact centers to boost customer experience and improve agent efficiency on a regular basis.
4. Boost Text-Based Customer Interaction
A large percentage of customers these days interact with businesses through emails, social media posts, and similar text-based communication options. No contact center can boost customer experience without communicating with customers through textual content proactively.
The text analytics tools help contact centers to improve customer experience by monitoring and analyzing the incoming and outgoing text-based communication with customers. The contact centers can further leverage text analytics to identify and resolve the issues impacting overall text-based communication.
5. Streamline Self-Service Channels
The interactive voice response (IVR) systems help contact centers to reduce both incoming call volume and operational cost by providing callers with two distinct options – interact with a live agent and use self-service options. But it is always important for the contact centers to ensure that the customers can use the self-service options easily and quickly.
A contact center can use self-service analytics tools to assess the simplicity and usability of self-service options. The informational insights gained using self-service analytics tools further help contact centers to optimize self-service delivery and reduce human intervention.
6. Boost Agent Efficiency and Productivity
No contact center can run inbound and outbound voice marketing campaigns efficiently without monitoring and improving the efficiency of agents continuously. The desktop analytics tools help contact centers to improve voice-based customer interaction in a number of ways – monitoring agents’ desktop analytics, reviewing agents’ activities while interacting with customers and making the agents use the systems efficiently.
The contact center can use text analytics to identify agent efficiencies as well as reduce average call handling time.
7. Customize Cross Channel Customer Service
The customers these days interact with a business through a variety of communication channels. Hence, it becomes essential for contact centers to monitor and improve omnichannel customer experience consistently. The cross channel analytics tools help contact centers to boost customer experience by identifying and evaluating the communication channels used by customers.
The insights gained using cross channel analytics further make it easier for call center agents to personalize customer interactions and boost customer engagement. The contact center can further leverage the analytics tools to boost customer service delivery through multiple channels.
8. Identify and Address Upcoming Problems
Like other businesses, contact centers also need to identify and address upcoming problems early and effectively. The predictive analytics tools make it easier for contact centers to detect upcoming problems by analyzing historical data.
In addition to identifying upcoming problems, predictive analytics also help contact centers to resolve upcoming problems by applying past solutions. They further analyze past results to facilitate informed decision making based on important information like call volume, average call handling time, service level and customer satisfaction.
9. Measure Key Performance Indicators
In addition to improving contact center operations, the analytics tools also help decision-makers to measure and monitor various Key Performance Indicators (KPIs) based on real-time data. The managers can use the analytics tools to measure key performance indicators like call center agent efficiency, customer satisfaction score, and compliance risk without putting extra time and effort.
The feature further helps managers to boost contact center performance and profitability by addressing the inefficiencies and implement new measures based on automated scoring.
Overall, contact center analytics help businesses to identify and resolve the issues impacting customer experience early. The cloud-based contact solutions help businesses to use different types of contact center analytics optimally by collecting real-time customer data continuously. But no contact center can reap the desired benefits without using and implementing the call center analytics in the most appropriate way.