Speech analytics is defined as a method that is used to examine, identify and cross-reference recorded speech to gather useful insight about the speech or the speaker.

Language which originated as tool for humans to describe everything in this world has evolved into a complex multi-dimensional medium that is used to express ideas, emotions and much more. If language can be used to describe an emotion, then by analyzing the content of a speech the speaker’s state-of-mind can also be understood.

In this world where information technology is a dominant force, call centers, help desks, trading floors and service centers can make use of speech analytics solutions to understand the mindset of their respective callers or customers and re-align the service they provide that fits customer requirements.

Speech analytics has been a commercial offering since the dawn of this new millennium and for more than a decade has been dominated by a handful of vendors in two camps: those with call recording backgrounds and those with “stand alone” offerings. These solutions were once deployed at the enterprise level only, but now there are many integrated speech analytics solutions available that are less complex, low cost and offers a rapid return on investment.

U.K.-based Io Speech Analytics Ltd in their white paper, Speech Analytics - The Simple Definition, has emphasized that speech analytics will enable voices - that are often captured by call recording solutions only to be deleted as a matter of course or stored away for years never to be accessed or reviewed - to be heard. Analyzing these voices will help companies to figure out opinions, attitudes and intentions customers and employees reveal. That analysis can be used to enhance performance, reduce risks and drive profitability. It can also be used in conjunction with other performance management or customer satisfaction tools to correlate what is being said on calls with other business metrics and trends.

Though speech analytics is an advanced technology, it needs commitment to succeed. While integrated solutions are available for lower costs, IT departments have to have some input for deployment and operation.

The white paper also explains in detail the various advantages of speech analytics and how any company can deploy them optimally. It also offers the best practices that are available and advises about what one can expect from speech analytics technology.