2018 – 2019 Speech Analytics Product and Market Report

  • ID: 4622866
  • Report
  • DMG Consulting LLC
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Real-Time Speech Analytics Can Mitigate Liability Risks And Guide Interactions To Results That Are Mutually Beneficial For The Enterprise And The Customer.

FEATURED COMPANIES

  • Calabrio
  • CallMiner
  • NICE
  • OnviSource
  • SESTEK
  • Verint
  • MORE

Innovation is recharging the mature speech analytics market. Advanced AI-enabled technologies, including supervised, semi-supervised and unsupervised machine learning, as well as predictive analytics, are being added to speech analytics offerings. These enhancements are fueling interest in speech analytics and accelerating sales of new and replacement solutions.

An essential application for reimagining the service experience

Enterprises are seeking tools to help them understand and address customer needs more quickly and accurately. Today’s speech analytics solutions give enterprises valuable first-hand access to the voice of the customer (VoC). Speech and text analytics provide essential input into the customer journey analytics (CJA) process by capturing and converting spoken and written interactions into structured data for analysis. The derived insights can help identify the actions required to expedite resolution of customer challenges, minimize impacts, and enhance the customer experience and relationship with the enterprise. The result is a better understanding of customer preferences, the ability to anticipate customer behavior and needs, more successful and satisfying transactions, and a personalized customer journey.

Real-time speech analytics can mitigate liability risks and guide interactions to results that are mutually beneficial for the enterprise and the customer. Agents can receive reminders about required disclosures, identify potential fraud before they release confidential customer information, and receive guidance in the moment to recommend the right product or service to the customer. Real-time speech analytics will increasingly play an essential role in understanding customer preferences and anticipating the best approaches to meeting their needs.

Over a decade of unparalleled coverage

The 2018 – 2019 Speech Analytics Product and Market Report, our 13th annual edition, provides the most comprehensive and thorough review and analysis of the competitors, products, features, pricing, payback, and trends and challenges in the speech analytics market. It explores customer satisfaction with vendors and solutions, and offers implementation and operational best practices.

There are significant differences among the speech and text analytics offerings in the market. The 2018-2019 edition of the Report covers 8 leading and contending vendors in-depth. The Report is designed to enable end-user organizations to understand this complex market and make the right choice of product and partner for their unique environment, and realize an ongoing return on their investment.

Report includes:

  • Speech analytics defined: how it works, post-call versus real-time speech analytics, and the functional building blocks and speech engines that enable speech analytics solutions
  • Overview of speech analytics fundamentals: data capture, recognition, audio mining, indexing, search and queries, tuning and accuracy, output and reporting
  • Market trends and challenges that are driving investments and influencing the direction of vendor research and development (R&D)
  • A look at new product features and a preview of enhancements that the vendors plan to deliver in the next 12 – 18 months
  • Discussion of how artificial intelligence (AI) and machine learning technologies are enhancing speech analytics capabilities
  • Explanation of how analytics-enabled quality management (AQM) is being leveraged for automated omni-channel quality management
  • Examination of how interaction analytics is an essential contributor to understanding and improving the customer journey
  • How real-time speech analytics is transforming the customer and agent experience
  • Speech analytics vendor market activity and 5-year projections
  • Overview of the 8 featured speech analytics vendors, including company snapshots, go-to-market strategies, product offerings and packaged/verticalized applications
  • Detailed comparative analyses of the key functional capabilities of the 8 featured speech analytics solutions
  • Speech analytics benefits and return on investment (ROI) analysis
  • Implementation analysis, including vendor methodology, best practices, training and professional services, and maintenance and support
  • Comprehensive customer satisfaction survey results that measure and rank vendor approval ratings across 15 product components and 10 vendor categories
  • Detailed pricing comparison and analysis for on-premise, cloud and managed service speech analytics solutions
  • Detailed company reports for the 8 speech analytics vendors, analyzing their products, functionality and future product development plans
  • Comprehensive Speech Analytics Vendor Directory

Please note: A customer license letter agreement needs to be signed prior to delivery of this product. This letter will be sent to you via email after your order is placed.

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FEATURED COMPANIES

  • Calabrio
  • CallMiner
  • NICE
  • OnviSource
  • SESTEK
  • Verint
  • MORE

1.0 Executive Summary

2.0 Introduction

3.0 Research Methodology

4.0 Speech Analytics Defined

4.1 How it Works
4.2 Post-Call vs Real-Time
4.3 Application Building Blocks
4.4 Speech Engines

5.0 Speech Analytics Process Fundamentals

5.1 Capture
5.2 Speech Recognition
5.3 Audio Mining
5.4 Indexing, Search and Queries
5.5 Tuning and Accuracy
5.6 Output
5.7 Reporting, Dashboards and Alerts

6.0 Speech Analytics Trends

7.0 Speech Analytics Challenges

8.0 Speech Analytics Market Innovation

8.1 New Product Features
8.2 Emerging Capabilities

9.0 Supercharging Speech Analytics with AI

10.0 Analytics-Enabled Quality Management (AQM): 100% Proof

10.1 Vendor AQM Capabilities

11.0 Interaction Analytics for the Omni-Channel Customer Journey

12.0 Real-Time Speech Anaytics: Speech Analytics at the Speed of Sound

13.0 Speech Analytics Market Activity Analysis

13.1 Validating Market Activity Numbers
13.2 Market Growth Rate
13.3 Speech Analytics Market Activity

14.0 Adoption Rate of Speech Analytics

15.0 Speech Analytics Market Projections

16.0 Speech Analytics Competitive Landscape

17.0 Vendors and Solutions

17.1 Company Snapshot
17.2 Vendor Offerings and Products
17.3 Packaged Offerings

18.0 High-Level Technical Analysis

18.1 Technical Components Summary
18.2 System Administration
18.3 System Security

19.0 Speech Analytics Uses, Benefits and Return on Investment

19.1 Compliance

20.0 Implementation Analysis

21.0 Speech Analytics Vendor Satisfaction Analysis

21.1 Summary of Survey Findings and Analysis
21.2 Product Satisfaction by Category
21.3 Customer Insights
    21.3.1 Business Units Using Speech Analytics
    21.3.2 Applying Speech Analytics Findings
    21.3.3 Strengths of Speech Analytics Solutions
    21.3.4 Speech Analytics Desired Enhancements/ Additional Capabilities
    21.3.5 Biggest Impact Delivered by Speech Analytics
    21.3.6 Additional Comments

22.0 Pricing

22.1 Premise-Based Pricing
22.2 Cloud-Based Pricing
22.3 Managed Service Pricing

23.0 Company Reports

23.1 Calabrio Inc.
23.2 CallMiner, Inc.
23.3 NICE
23.4 OnviSource
23.5 SESTEK, Inc.
23.6 Verint Systems
23.7 Voci Technologies, Inc.
23.8 VoiceBase, Inc.

Appendix: Speech Analytics Vendor Directory

Table of Figures

Figure 1: What is Speech Analytics?
Figure 2: Post-Call vs. Real-Time Speech Analytics Use Cases
Figure 3: Speech Analytics Technology Building Blocks
Figure 4.1: Speech Analytics Engine
Figure 4.2: Speech Analytics Engine
Figure 5.1: Capture
Figure 5.2: Capture
Figure 6.1: Speech Recognition
Figure 6.2: Speech Recognition
Figure 7.1: Audio Mining
Figure 7.2: Audio Mining
Figure 8.1: Indexing, Search and Queries
Figure 8.2: Indexing, Search and Queries
Figure 9.1: Tuning and Accuracy
Figure 9.2: Tuning and Accuracy
Figure 10.1: Output
Figure 10.2: Output
Figure 11.1: Dashboards and Reporting
Figure 11.2: Dashboards and Reporting
Figure 12: 2018 Speech Analytics Trends
Figure 13: 2018 Speech Analytics Market Challenges
Figure 14: New Product Features, by Vendor
Figure 15: Future Enhancements, by Category
Figure 16: AI Demystified
Figure 17.1: Artificial Intelligence (AI) and Machine Learning
Figure 17.2: Artificial Intelligence (AI) and Machine Learning
Figure 18: Analytics-Enabled QM
Figure 19.1: Analytics-Enabled Quality Management (AQM)
Figure 19.2: Analytics-Enabled Quality Management (AQM)
Figure 20.1: Business Intelligence
Figure 20.2: Business Intelligence
Figure 21.1: Real-Time Speech Analytics
Figure 21.2: Real-Time Speech Analytics
Figure 22: Contact Center Speech Analytics Seats and Percent Growth 2007 – 2017 (end of June 2018), in Thousands
Figure 23: Speech Analytics Seat Trend Detail by Geography, 2007 – 2017
Figure 24: Speech Analytics Activity, as of June 30, 2018
Figure 25: Speech Analytics Market Share Based on Seats, as of June 2018
Figure 26: Speech Analytics Customers and Seats by Vendor, 2016 vs. 2017
Figure 27: Speech Analytics Customer Trends by Vendor, 2011 – 2017
Figure 28: Speech Analytics Customer Trends by Vendor, 2011 – 2017
Figure 29: Speech Analytics Seat Trends by Vendor, 2011 – 2017
Figure 30: Speech Analytics Seat Trends by Vendor, 2011 – 2017
Figure 31: Speech Analytics Contact Center Adoption Rate, 2006 – 2017
Figure 32: Speech Analytics Market Growth Rate Projections Based on Seats, 2018 – 2022
Figure 33: Speech Analytics Competitive Landscape
Figure 34.1: Company Information as of June 30, 2018
Figure 34.2: Company Information as of June 30, 2018
Figure 35: Product Information
Figure 36.1: Packaged/Verticalized Offerings
Figure 36.2: Packaged/Verticalized Offerings
Figure 37.1: High-Level Technical Summary
Figure 37.2: High-Level Technical Summary
Figure 38: Technical Components Summary
Figure 39.1: Administration/System Configuration Environment
Figure 39.2: Administration/System Configuration Environment
Figure 40.1: Security
Figure 40.2: Security
Figure 41.1: Speech Analytics Uses, Benefits and ROI
Figure 41.2: Speech Analytics Uses, Benefits and ROI
Figure 42.1: Compliance
Figure 42.2: Compliance
Figure 43.1: Speech Analytics Implementation Analysis
Figure 43.2: Speech Analytics Implementation Analysis
Figure 44: Customer Survey Rating Categories
Figure 45: Average Satisfaction Ratings, by Category
Figure 46: Current Product Satisfaction Ratings, by Customer
Figure 47: Implementation Satisfaction Ratings, by Customer
Figure 48: Training/Workshops Satisfaction Ratings, by Customer
Figure 49: Ongoing Service and Support Satisfaction Ratings, by Customer
Figure 50: Professional Services Satisfaction Ratings, by Customer
Figure 51: Innovation Satisfaction Ratings, by Customer
Figure 52: Responsiveness to Product Enhancement Requests Satisfaction Ratings, by Customer
Figure 53: Vendor Communication Satisfaction Ratings, by Customer
Figure 54: Pricing Satisfaction Ratings, by Customer
Figure 55: Overall Vendor Satisfaction Ratings, by Customer
Figure 56: Product Satisfaction Ratings, by Category 1
Figure 57: Usability/Ease of Ongoing Use and Program Maintenance Satisfaction Ratings, by Customer
Figure 58: Audio Mining Capabilities (speaker separation, talk/silence analysis, emotion detection/sentiment analysis, etc.) Satisfaction Ratings, by Customer
Figure 59: Call Categorization and Analysis Capabilities Satisfaction Ratings, by Customer
Figure 60: Ability to Efficiently Drill to Relevant and Actionable Data (time to insight) Satisfaction Ratings, by Customer
Figure 61: Ability to Discover Unknown Issues and Breaking Trends Satisfaction Ratings, by Customer
Figure 62: Ability to Automatically Identify the Root Cause of Issues Satisfaction Ratings, by Customer
Figure 63: Ability to Recommend Ways to Address Issues in Real Time Satisfaction Ratings, by Customer
Figure 64: Ability to Leverage Artificial Intelligence and Machine Learning to Enhance Findings Satisfaction Ratings, by Customer
Figure 65: Ability to Support Omni-Channel (voice and digital) Analysis Satisfaction Ratings, by Customer
Figure 66: Ability to Deliver Results that Provide Quantifiable Business Value Satisfaction Ratings, by Customer
Figure 67: Ability to Improve Regulatory Compliance Satisfaction Ratings, by Customer
Figure 68: Analytics-Enabled Quality Management Capabilities Satisfaction Ratings, by Customer
Figure 69: Dashboards, Reporting and Analytics Satisfaction Ratings, by Customer
Figure 70: Business Intelligence Capabilities Satisfaction Ratings, by Customer
Figure 71: Ease of Integration with Third-Party Applications Satisfaction Ratings, by Customer
Figure 72: What business units are using speech analytics findings?
Figure 73: What were the top 3 – 5 business issues you are solving with speech analytics?
Figure 74: What are the top 3 – 5 strengths of your speech analytics solution?
Figure 75: What enhancements/additional capabilities would you like to see in your speech analytics solution?
Figure 76: What is the biggest impact that speech analytics has delivered for your company?
Figure 77: Additional comments about your experience with the vendor and/or product
Figure 78.1: Pricing for a Premise-Based Speech Analytics Solution
Figure 78.2: Pricing for a Premise-Based Speech Analytics Solution
Figure 79.1: Pricing for a 250-Seat Cloud-Based Speech Analytics Solution
Figure 79.2:Pricing for a 250-Seat Cloud-Based Speech Analytics Solution
Figure 80: Pricing for a 250-Seat Managed Service Speech Analytics Solution

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  • Calabrio
  • CallMiner
  • NICE
  • OnviSource
  • SESTEK
  • Verint
  • Voci and VoiceBase
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