Technology is growing at a remarkable rate with so many changes in the day-to-day activities. There is not even a day that went without a new invention added to the list of the already growing technology industry. One of the growing trends of this advanced technology is Voice analytics.

Voice analytics are used widely to analyze the recorded conversation by a voice recognition tools. The tools convert voice to the text format, analyze the audio pattern and identify speaker emotions. It has grown at a wide range by the companies since it was leveraged. Even, companies are investing in voice analytics technology on a large scale.

When you talk about an issue with your customer care executive, it is highly possible that he/she won’t even know how much frustrated you are. However, with the invention of voice analysis, the system recording your voice is able to predict your level of annoyance. This is a great way for companies to get a better insight into the interaction between customers and executive, lie detection and identification of emotions.

Earlier it was just system understanding the spoken words then it moves to another level of automated replies while trying customer service line. Now, voice analysis is far beyond the common understanding of the words spoken. Today, it is not only understanding but also translating the voice in the text format and analyzing the lies, stress level and what not.

Voice Identification

We all are aware of the genetic identification system that used eyes or fingerprints. Similar to them, voice identification system is based on the voice of a person. The most essential thing to understand is that everyone has a unique voice texture that depends on the shape of their head, their vocals, etc. Hence, a computer can differentiate between different voice samples easily. Also, it can determine whether the voice is spoken by a single person or not.

This advancement is extensively used in security sector with security systems and activated locks. The application of this technology can easily be seen in criminology and law enforcement sector. An audio forensic expert can easily determine with accuracy whether the voice sample is of the victim or accuse or not.

Read More: Who is better AI or Humans?

Customer Service

Voice analytics is taking a maximum of customer services making it the most developing technology voice field. With the combination of voice analysis with big data techniques, it is possible to analyze a large number of call data. It helps the company to have a depth insight on the business and the working of the employees. In addition to this, voice analysis also helps in improving the rate of productivity of call centers by providing an in-depth insight that reduces repeat calls and call duration.

This system also provides the basic information as per the satisfaction of the customer and competitive brainpower. Additionally, it is now easy to reduce the risk of customer outburst by predicting the customers at-risk and helps in monitoring keeping quality in mind. It also analyses the performance of a particular employee and provides coaching.

These systems are used at a large scale in the industries helping the customers at their best. Whether you take call steering, call routing systems and automatic understanding for the right consultant. At the customer end, the interaction can be used for the automated post-event survey or post-calls to get the feedback from the customer in order to analyze the tone later.

With the help of voice identification, it will be extremely easy to identify the voice of a caller using the automatic system without any additional data. These types of analysis play an important role in sales sector by proving the general information about the customer such as intentions, behavior, and requirements.

Read More: 5 Ways in which ML, AI and Data can improve customer satisfaction

Truth Detection

The truth/lie detections mechanism has been used for many years but with the recent development, it has been incorporated in the voice analysis solutions as well. This invention is made up of using much-layered voice analysis (LVA) in order to identify the cognitive process, stress level and emotional reactions that can be detected by the person’s voice.

The main application of this mechanism is in several sectors: insurance, military, customs, prisons, and borders. They can also be used in the theft prevention and business as well. The products that company deals in can easily be under bad flag hence it becomes highly important to keep a track on the customer call in order to check the frustration level. If it seems high then the supervisor must step in to control the situation. Similar to this, fraud detection is introduced for the financial and insurance companies to analyze the pattern of the voice to identify risks.

A fraud detection software can easily determine nervousness in the sound of the caller. It can pick the criminal intention, deceit, and general integrity by vital recognizing the signifiers in the voice.

Read More: 12 Key Considerations while Choosing a Tech Stack for Big Data Analytics

Best Practices of Voice Analytics

You can use the best practice for the voice analytics as suited to your company.

• Identify Business Needs: There are many things that you need to consider such as the size of the company and volume of voice calls to be analyzed. This will solve the conflict between the desktop solution and on-premise solution.
• Outline Project Goals: Be clear on the project goals and what to gain from the analysis to avoid scope creep.
• Real-time Analysis: This system allows to analyze the call quickly and take actions against any issue that may arise.

Read More: What makes a Chatbot Intelligent?

Conclusion

Voice analysis has come a long way after the invention of the telephone and voice calls. Even in the coming time, we may see the advanced version of a computer that is more effective and efficient for the communication.

Want a voice analytics solution for your company? Get in touch today.