Why voice analytics are the new hot trend?

Why voice analytics are the new hot trend?

Most business owners know how important data analytics are. Gathering customer data through website visits and through interactions like comments and reviews, allows business owners to generate the insights needed to ultimately improve their business, make better decisions and even altogether change their business model. For a long time, analytics has been primarily focused on text in the online arena, but that situation is rapidly changing.

Forbes has highlighted the growing importance of voice analytics. And as media becomes more diversified so do the insights and learning generated through analytics. So why should you pay attention to voice, and what exactly does voice analytics mean for your business? Until recently, the most advanced form of voice was arguably Apple’s Siri. It didn’t always work perfectly, but when it did, Siri was able to recognize and carry out commands like finding the perfect restaurant for a call or sending a text to friends or colleagues.

In 2013, PWC put together a report on the important of speech analytics for enhancing the customer experience (looking primarily at call centers and customer service solutions). The insights potentially unlocked by speech analytics were referred to as a “game-changer” for this arena. Speech analytics focused on the phonetics of words and in particular, were able to pick out specific key words for analysis. It’s a huge market and looks set to grow to $1.33 billion by 2019.

In contrast to speech analytics, voice analytics go far beyond customer service processes. In 2016, voice analysis technologies have developed much further than the ability to focus on phonetics or specific words. Voice analytics still focus on an analysis of spoken content but are able to study vocal elements such as syllable emphasis, tone, pitch, and tempo to analyze speaker behavior. This is absolutely crucial to better understand customers and generate higher quality insights. When we speak, only a small amount of meaning is conveyed through the words themselves while an enormous amount is conveyed through tone. The English language in particular is extremely ambiguous (which is one of the reasons why English language poetry and literature is so wonderful). However, in terms of generating customer insights, ambiguity is not very helpful and understanding tone of voice is an incredible and game-changing tool.

 

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So if voice analytics are a relatively new and basically an invaluable tool in any website’s arsenal, how can you best leverage this tool to improve your business? As with all data analytics, the answer begins with collecting the data itself. The best way to do this is to set up a platform to collect voice content from your users. User-generated content like comments and reviews is one of the best areas to mine user data and now this can be done in voice.

Heyoya is a unique comment and reviews platform that brings voice to e-publishers and e-stores, improving sales and user engagement by allowing readers to express themselves beyond the medium of text. Heyoya’s new Receiver plan allows for quick and easy below-the-fold monetization. Heyoya is a game changer for websites and is proven to increase brand affinity and the quality of user-generated content.

 For more information about Heyoya, click here.

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