CallMiner: CallMiner: the leader in enterprise speech analytics. speech analytics industry.

"The speech analytics market grew by
a significant 106 percent in 2007, producing
a four-year compounded annual growth rate (CAGR) of 268 percent."
DMG Consulting LLC,
2008 Speech Analytics Market Report

speech analytics industry

DMG is forecasting continued market expansion at a rate of 70% in 2008 and 50% in 2009, regardless of the challenging economic conditions. "The incredible growth in speech analytics usage is evidence of the growing realization that enterprises need more insight into their customers’ preferences and behavior," said Donna Fluss, president of DMG Consulting. "A better understanding of customer behavior will help enterprises enhance
the customer experience and improve customer loyalty. Speech analytics solutions
deliver quantifiable benefits that improve productivity, customer retention and loyalty, yielding one of the more rapid and compelling ROIs among contact center applications."
CallMiner encourages you to subscribe to DMG’s many market analyses. We do.
Follow this link for more information on DMG Consulting LLC: www.dmgconsult.com

industry speak/glossary

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New: Reduce Wrap-Up Time and Decrease Costs with Speech Analytics.
Author: Jeff Gallino, CallMiner Chief Technology Officer, 2009
Abstract: Today, more than ever, it is important to strengthen your relationship with customers. Equally compelling, contact centers are under more pressure than ever to do more with less. Unfortunately options are limited: either reduce headcount or keep headcount constant and increase workload. Neither option is very palatable. And saving money is no laughing matter. Using CallMiner speech analytics, you can significantly reduce costs and create efficiencies that will dramatically improve your entire organization. Gallino estimates that a 500-seat contact center can experience annual savings in excess of $520,000 by reducing Wrap-Up Time using CallMiner Eureka's automatic call categorization.

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Separate Hype from Reality: Choosing a Speech Analytics Application
Author: Cliff LaCoursiere; 2008
Abstract: The purpose of this discussion is to illustrate what organizations should consider when evaluating a speech analytics application, and once the choice made, the steps necessary to extract measureable business value from use of the application. One of LaCoursiere’s findings:
- Automated discovery and management of key performance indicators out-of-the-box is crucial. Lastly, the application should also enable the business analyst the ability to create and modify custom components and indices to capture changing market and business dynamics. While the latter capabilities may be taken for granted, the subtly is that value is delivered to multiple levels of the organization in a form that’s actionable. Senior management can view key performance metrics on a regular basis, and when they’re trending upward, call on a business analyst to drill-down on the indices to identify the components that are driving business in a positive direction.

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Planning for Success-Nine Guidelines & 74 Essential
RFP Questions for a Speech Analytics Selection Process
Author: CallMiner Services and Support; Marketing, 2008
Abstract: Employ these best practices to ensure your speech analytics solution delivers actionable results quickly. If you are planning to issue a RFP, consider asking these questions to all vendors. You will be surprised at the answers. For each section the very important questions are in boldface type. One of nine guidelines:
- Connect the Back Office to the Front Office. Create an executive
  cross-functional team that regularly reviews the results from the speech analytics application. Management will undoubtedly discover actionable information that requires the business to consider new initiatives to improve business process. Sharing speech analytics results can accelerate return on investment by driving business intelligence beyond operations or quality management to the executive suite, sales and marketing, engineering, legal and human resources.

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Harnessing the Value of Emotion Detection to Improve Customer Satisfaction
Authors: Michelle Craft and Shaoyu Xue, 2008
Abstract: Clearly emotion detection is vital to fully understanding a customer’s intent and ultimately to customer satisfaction. What is said during a conversation is just as important as how it is said. As a result, if your speech analytics solution relies on word spotting or search, then you
are going to miss critical data that will ultimately skew customer satisfaction scores. Emotion as expressed in voice data is absolutely essential to understanding customers and customer satisfaction.
- Another benefit of the ability to measure emotion detection is a better understanding of upsell and cross-sell opportunities. When CallMiner analyzed the emotional context of calls relating to upselling and
  cross-selling offers for one prospective large financial services client,
  it found that the offers were negatively affecting customers —
  even though they were increasing sales. Sometimes customers are
  so stressed by an upsell offer, that you are actually decreasing the customer satisfaction experience and taking away from the value
  of the additional revenue. Having insight into the emotional aspects
  of a conversation will allow a company to delve deeper into the data
  and discover how different customer demographics respond to different upsell and cross-sell opportunities, and then determine how to optimally offer additional products and services without upsetting its customers.