The value of utilizing text analytics in the contact center is well proven and has been recognized in the IT sector for nearly 20 years with thousands of text analytics implementations globally. There is an enormous opportunity for global contact centers to leverage text analytics to generate quantifiable Return on Investment.
EpiAnalytics transformative text analytics solutions turns customer complaints and feedback from existing corporate sources, such as surveys, emails, social media, and call center data into actionable intelligence, for decision support and business workflow automation. Analysts report that over 80% of data about customers is unstructured.
Industry analysts report that unstructured text is the single largest source of unprocessed and underutilized customer data and is growing rapidly in today's customer- centric world. Over 80% of customer data is unstructured, noisy, and on average, the data is doubling every three months. Harnessing this data is critical to competitive growth, and sometimes even company survival.
An ever-growing amount of unstructured text data is being collected in the contact center. There are many sources of unstructured data in organizations today (see the chart below). Various contact center channels including e-mails, feedback surveys, text messages, service requests, agent logs, and conversation transcripts generate huge amounts of unstructured data that needs to be analyzed and processed.
Contact centers face unique cost control challenges and resemble manufacturing assembly lines. Processes tend to be fixed and routine. All centers strive for operational efficiency seeking to stay ahead of intensely growing competition while maintaining quality of service.
This quest for efficiencies in the contact center is driving the adoption of text analytics and sentiment analysis. Companies need to monitor customer conversations about their service, products, and brands across multiple sources to gain a competitive advantage. Companies in turn use this operational intelligence to gain a competitive advantage, manage customer perceptions and increase customer satisfaction.
Often text-based data is stored and left unprocessed either because companies lack a systematic solution to analyze unstructured content, or because of the lack of in-house expertise and the high cost required for implementing text analytics solutions.
Today, contact center, and customer facing executives are increasingly looking to EpiAnalytics systematic text analytics solutions to help them understand and derive value and insights from textual data (see the EpiAnalytics process diagram below).