Verint Updates Speech Analytics Platform to Provide Better Insights

Speech Analytics features a new speech engine that incorporates phonetic and transcription, combined with natural language processing (NLP).

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Actionable intelligence specialist Verint unveiled advancements to its Speech Analytics platform that are designed to provide a more intelligent, faster and accurate way to analyze customer calls.

The technology helps business reduce the potential for missed insights by automatically surfacing uncategorized context and themes within calls, enabling organizations to better identify, analyze and act on emerging trends, issues and opportunities.

"Speech analytics solutions can be useful to any organization with a significant volume of voice interactions with their customers, and also to companies that want to better understand customers by engaging with them more effectively," Daniel Ziv, vice president of customer analytics at Verint, told eWEEK. "Speech analytics not only helps improve the very critical human-to-human interaction on the voice channel, but also helps build a much more effective digital strategy."

For example, when self-service on the Web, mobile or interactive voice response (IVR) fails, customers typically end up speaking with a live agent.

"The key to improve self-service is mining and understanding these points of failure," he said. "Speech analytics can help accomplish that by identifying the root cause of the self-service failures, as well determining emerging customer needs that are not met through self-service digital channels."

Speech Analytics features a new speech engine that incorporates phonetic and transcription, combined with natural language processing (NLP), to enable the analysis of calls in real time and to build a complete semantic index of the big data in recorded calls.

"Verint began the journey on this latest version of speech analytics with an eye toward making it a game-changer," Ziv explained. "In order to do that, we had to take a very hard look into every aspect of our application and centered the focus on understanding our customers. We met with hundreds of our speech analytics users to understand what they need, what they like and what they wished for in an analytics solution."

Speech Analytics also features a new user interface designed from the ground up that presents visual context of conversations that makes it possible for users across the organization to better understand customers.

In association with the new user interface, speech analytics insights are now embedded into the workflows of the company’s broader customer engagement optimization platform.

"Speech analytics is becoming much more strategic for many organizations that are focused on better understanding their customers and providing a much higher level of customer service and engagement. In the past, it was used for significant operational improvements," said Alain Stephan, global vice president of customer analytics for Verint. "However, today we are seeing a transition of using this tremendously rich unstructured data source to power big data projects, improve predictive models and feed rich contextual insights to provide personalized experience to both assisted and self-service customer interactions."