Telcos have been using analytics to enhance customer experience and reduce churn for over a decade. However, over the past few years, the technology has evolved from traditional big data analytics to more intelligent predictive analytics, which has, in many ways, accelerated telcos’ transition to a digital service provider (DSP).
With further enhancements, predictive analytics is moving to the next level, as indicated by the recent announcements from technology vendors.
For example, Voicesense has announced the latest predictive analytics offering that aims to improve customer satisfaction and reduce churn.
The technology leverages artificial intelligence (AI) to derive predictions on a customer’s behavior and help provide immediate recommendations to derive value from interaction. It creates an AI-driven personal profile for each customer and a predictive score for the customer’s potential behaviors. This is done by analyzing over 200 prosodic parameters of a person’s speech, which are the non-content features of speech, such as intonation, pace and emphasis.
For call center agents working for telcos, the technology provides real-time indicators of customers that are dissatisfied and at risk of churning. It also provides predictions for a customer’s loyalty style, tendencies for long term value or inclinations for short term promotions, which can be leveraged by agents in their retention efforts.
In sales situations, the Voicesense technology provides immediate go/no-go indications for a customer’s purchasing probability, which allows agents to focus on the customer calls with high revenue-generating potential.
Voicesense’s predictive analytics also helps in improving agent performance through compliance scoring and attrition tracking. The automated technology provides valuable insights on the performance of the agents and alerts supervisors about critical flaws in interactions, if they occur. This will result in improved agent training, greater customer satisfaction, and faster discovery of agent attitude and significant call events, Voicesense said.
Voicesense is currently offering a proof-of-concept trial of this new version of its speech-based predictive analytics solution to telcos and their call centers.