In today’s global business, many companies have taken advantage of the opportunity contact center analytics offer.
Businesses are now looking forward to investing in contact center analytics to streamline operations, maximize customer service, and its potential gain in sales at scale.
Contact center analytics has brought a paradigm shift in improving the customer experience and optimizing call center operations.
This article will help you understand the fundamentals and importance of contact center analytics, its types, and its essential benefits for businesses.
What is contact center analytics?
Contact center analytics involves the process of gathering, measuring, and analyzing all relevant customer data to gain business performance insights. These analytics can be used to determine call monitoring and analysis.
To measure contact center analytics, relevant customer data metrics like the following must be collected and evaluated:
- Customer satisfaction
- Handle time
- Revenue
- Retention
- Call volume
- Hold time
- Agent performance
Today, contact center analytics is becoming a driving force for many companies as they leverage it to provide a better customer experience.
As per ReportLinker, the global contact center analytics market is projected to reach $3.1 billion with a compound annual growth rate (CAR) of 11.2% by 2028.
Advanced contact center analytics software can aid in reviewing performance relevant to businesses’ decision-making.
Types of contact center analytics
Contact center analytics allows organizations to combine approaches to let them see which are important channels relevant to their business.
Here are the common contact center analytics approaches businesses can use to improve their call centers.
Speech analytics
Speech analytics is a type of analytics that involves analyzing past recorded calls to gain customer information.
It uses artificial intelligence (AI), machine learning, and real-time transcription to detect keywords and vocal patterns and recognize emotions and changes in tone.
These valuable insights include unnecessary calls and the frequency of call transfers. They also identify common bothersome touchpoints, which help organizations to improve customer interaction during calls.
Desktop analytics
It takes a comprehensive look to capture and monitor agents’ dashboards. With desktop analytics, it provides insights into employees’ desktop activities.
This analytics includes the agents’ calls, software operations, and overall performance. This allows organizations to determine inefficiencies in the system that become a hindrance to agents’ performance.
Cross-channel analytics
Another type of contact center analytics is cross-channel analytics. This analytics involves aggregating and analyzing data to assess multiple channels of customer use and their overall customer journey.
Cross-channel analytics provides detailed analysis, which can help businesses to optimize the customer experience accordingly.
Predictive analytics
Predictive analytics serves as a valuable tool to review metrics that forecast upcoming problems that may occur, such as excessive average handling times.
Through machine learning, predictive analytics determine historical data to foresee future customer behavior, preferences, needs, peak hours, and seasons.
Self-service interactions analytics
Companies are now opting for self-service technologies to evaluate customer experience in an organization’s self-service communication channel.
Its goal is to identify methods to refine self-service channels that enable the customer to solve their own issues and their experiences to make them more efficient.
Text analytics
Text analytics involves analyzing agents and customer conversations through text interactions, such as social media, emails, and chat.
Using AI technology, the collected data from omnichannel communications allows businesses to gain key information about customer satisfaction scores.
Essential benefits of contact center analytics
Contact center analytics is more important than ever as it gives many benefits to organizations. Some of its essential advantages are:
Improves service quality
Analytics provides valuable reports on customer information, customer interactions, and their overall customer journey.
These findings allow the organization to improve its customer service, streamline operations and implement policies to keep service quality and efficient call center performance.
Insights into customer satisfaction
By aggregating customer data and behavior, contact center analytics can significantly help companies to identify customer satisfaction. Organizations aim to have higher customer satisfaction, thus, they learn a great deal about conducting surveys.
In this way, they discover how the customer is satisfied with their products, services, and opportunities for improvements.
Identifies training needs
Contact center analytics is the standard metric for identifying training needs in boosting agent performance.
These analytics allow companies to objectively determine who is top performing through a set of key performance indicators (KPIs).
Provides cross-channel insights
Effective contact center analytics help businesses to identify which one of their multiple channels available is preferred to use by customers.
Through that channels, it can gain cross-channel intelligence that will help managers to make effective decisions and drive enterprises to integrate call center operations.
Enhances sales conversions
Contact center analytics is not just about improving call center efficiency, it is also a tool to generate new revenue.
Improving sales conversion lies in how managers monitor and coach their agents based on contact center analytics. Adhering to the best practices will help improve their performance and influence sales conversion rates.
Effectively use contact center analytics for better customer experience
Businesses are becoming more data-driven as they adapt to industry changes. Contact center analytics helps ensure quality services and improve the customer journey and overall customer experience.
Leveraging contact center analytics suffices business needs. The insights gained in the analytics help in making a long-term client-centric business plan and operational decisions.
