Many of the business decisions we make today are based on analyzing transactional data such as usage, billing, and purchases, along with customer demographics and other CRM data. However, this process does not take into account ‘the voice of the customer’. In fact, companies are having thousands of interactions with customers every day, in which customers are telling them why they are unhappy, which of their needs are not met, and which competitors they may be considering. Speech analytics is a powerful technology that can analyze a large amount of unstructured interaction data in order to extract actionable customer insight. It can uncover hidden insights from customer interactions in order to predict customer churn, improve customer satisfaction, optimize sales and marketing effectiveness, and gain business intelligence.

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