Speech analytics has been a critical tool for contact centers, allowing them to extract insights from customer interactions and improve customer experience. However, traditional speech analytics methods have showed themselves to be time-consuming, labor-intensive, and limited in their ability to detect patterns and trends, or even produce accurate transcriptions. 

AI-powered solutions offer several advantages over traditional speech analytics methods. Here are some of the ways AI-powered solutions can replace speech analytics for contact centers:

1. Accuracy

AI-powered speech analytics tools can provide more accurate results than traditional methods. Rather than relying on faulty transcription and limited keyword and phrase matching that produce too errors and many false positives and false negatives to make them useful, AI tools, especially if they are trained specifically for consumer finance, can produce better than 90% accuracy. And by using machine learning algorithms, these tools can detect patterns and anomalies in customer interactions that may be missed by human analysts. This can lead to more precise insights and actionable data for contact centers.

2. Speed

Workflows based on traditional speech analytics methods are time-consuming and labor-intensive. By contrast, AI-powered solutions analyze large volumes of data in real-time, providing faster and more efficient analysis of customer interactions. This can help contact centers to identify and address issues more quickly, leading to improved customer satisfaction and retention.

3. Flexibility

AI-powered solutions offer greater flexibility than traditional speech analytics methods. These tools can be customized to meet the specific needs of a contact center, allowing them to analyze data in different languages, dialects, and even accents. This can improve the accuracy of insights and lead to better decision-making for contact centers.

4. Scalability

AI-powered solutions can scale up or down as needed, making them more cost-effective than traditional speech analytics methods. Traditional methods often require a dedicated team of analysts to analyze customer interactions, which can be costly and difficult to scale, and a significant investment from your IT team to deploy. By contrast, AI-powered solutions can analyze large volumes of data without requiring additional staff, making them a more cost-effective solution for contact centers.

5. Personalization

AI-powered speech analytics tools can analyze customer interactions at a more granular level, providing insights into individual customer needs and preferences. This can help contact centers to provide more personalized and targeted customer experiences, leading to improved customer satisfaction and loyalty.

Prodigal’s AI-powered solutions  are designed to provide more accurate, flexible, and scalable analysis of customer interactions, leading to improved customer experience and retention. Contact us today to learn more about how our AI-powered solutions can help your contact center to achieve these goals more efficiently.