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Real-time analytics is undoubtedly one of the most intriguing trends in the analytics space today. The ability to analyse calls whilst they are in progress is an advantage every business can benefit from. By simultaneously receiving information about the customer whilst they are still on the line, companies are able to increase the effectiveness of their sales efforts by tailoring their selling strategies to that particular customer and improve customer experience overall. 
 
Although it has become evident that real-time analysis is a possibility for all companies in any industry, the question remains: in what ways can businesses utilise real-time interaction analysis to achieve the best results?  

One of the main uses for real-time analysis is maintaining compliance with both external regulations and internal procedures. By controlling the former, companies are more likely to avoid fines from regulators. Equally as important, following internal rules allows businesses to maintain or improve efficiency and help achieve its core objectives. So how does real-time analytics help manage both of these aspects? 

Identify at-risk compliance situations 
In heavily-regulated industries such as financial services and healthcare, real-time analytics as an external compliance aid is especially vital. Every regulated company has room to improve and where the aim is to comply with disclosure requirements, real-time analytics systems help by analysing the call-in-progress, listening to see if the agents state the required disclosures. 
 
If the disclosure is not said within the required time-frame, the system sends an alert to the agent, reminding them to state the disclosure. If the agent ignores this warning, the system will remind the agent again, this time notifying a supervisor. With this warning system agents are more likely to say the rights things at the right time. 
 
Similarly, by reviewing calls in real-time, businesses are able to monitor the performance of their employees, ensuring that they are following company guidelines and providing the best possible service. These systems can detect when agents have not mentioned activation fees or any extra charges after a sale and by reminded them, customer satisfaction is improved. Real-time analytics allows companies to manage compliance issues faster and more accurately than ever before. 

Increase customer retention
Maintaining customer loyalty is usually the most important objective for companies. One way in which real-time analytics aids customer retention is by identifying customer dissatisfaction through customer responses, then taking pre-emptive actions to avoid it. Real-time analytics should employ both an acoustic and linguistic approach when calculating customer sentiment, with the ability to recognise pitch, tone, cross talk, laughter and most importantly, the actual words and phrases spoken. 

Based on these markers, real-time systems flag any calls which reveal negative sentiment and consequently send appropriate alerts to the agent or supervisor. These alerts provide instructions intented to save the call, such as guidance on resolving the issue or a promotional offer the agent could propose. The objective is to recognise the issue that could lead to customer dissatisfaction at the moment it occurs and then address the problem before it escalates. 
 
Increase operations and sales effectiveness
Finally, assistance provided by real-time analytics allows agents to handle calls with the confidence they will be far more effective. After post-call analysis identifies the behaviours and statements that are most effective when selling a product or overcoming complaints. It recognises the right times to send alerts to the agent, encouraging them with specific up-sell, cross-sell and next-best offer queues. In this way, real-time analytics has practical functions beyond understanding, as it designs, measures and improves our sales tactics.

It has become essential that businesses incorporate and take advantage of real-time analytics as the number of customer interactions continues to grow. The secret to extracting the most from real-time analysis systems is to take action on the results and findings immediately. With each new insight obtained from post-call analysis, it is vital that this information is transformed into the best practices which are then implemented during live calls and online chats. It is only with this effort that a company will discover the true benefits of real time analytics. 

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