What Is Speech Recognition Technology and How It Works?

Speech Recognition

How Does Speech Recognition Technology Work?

It transforms the unstructured data of the audio recorded calls to structured data that can be analyzed. It enables the user to search for particular phrases and words from the conversation to understand the trend.

Speech recognition technology encompasses a 3 step process primarily

 

1. From the source system, i.e. call recorder, videos, meeting recordings, etc., the conversation is incorporated. It also takes into account the other metadata like the day, time, including for example the agent handling the call, and the customer details.

2. The process is done in which the sounds are converted into text. During this step, acoustic  signals are also identified and extracted. The transcript is then turned into a consistent form, into a single system for analyzing. Speech recognition with the help of Artificial Intelligence enables the recognition of speech and the conversation  to be transcribed into speech to text. It would be essential to note that speech recognition is different from voice recognition. While the former focuses on translating and speech analysis into a text format, the latter identifies the user’s voice. Speech analytics software helps with processing customer interaction automatically.

3. The system analyses the interactions automatically for specific language patterns, tags, particular language, and other key metrics that it has been programmed for. This enables the system to measure different performance indicators into an index.

With Speech recognition technology, the user can undertake:

  • Category analysis,
  • Theme discovery,
  • Conduct score analysis
  • Visualize data in several ways
  • Engage with automatic topic analysis

All these indicators and data can be used to offer direct feedback to agents, supervisors, and analysts to better their performance. There are certain features that make it an asset to the business.

Features of Speech Recognition Technology

  • Keyword Spotting: Take the conversation intelligence to another level with automatic keyword spotting activation. Any type of speech data, e.g. video, telephony, meeting recordings etc., can customize the keywords and phrases to watch out for in your calls. Allowing you to get insight and action accordingly.
  • Theme Discovery: Identifies a group of several terms/words that are used in a conversation. Identifying a theme or topic that is being used most can help a business in creating relevant categories. Contextualizing them can help in spotting the rising trends, or locate trends that the business never considered before. It can also assist the supervisor and the business owner to identify and detect any potential issues or the root cause of any concern.
  • Auto – Call categorization: Customized categorization of calls into exclusive auto groupings. The feature helps with identifying the types of calls the business receives. The automatic tagging of the customers and the calls based on keywords, phrases, language patterns, and other characteristics provide an in-depth understanding of customer’s behavior, trend and thus can be used for better decision-making.
  • Multimedia: Any platform on which a call is held, be it telephony audio, multimedia video, or any other format, with a single API the calls can be transcribed either in real-time or post streaming. Thus ensuring not a single call is missed and all the data required is there to be analyzed.
  • Transcription: Allows a supervisor or the owner to search an unlimited number of keywords and phrases from the calls made. With the scope of processing 100% of the calls with the optimal accuracy within seconds of transcription as an owner, you are in a position to make an informed decision related to your customers, agents, and business.
  • Customer segment identification: Identify new customers, and measure the experience of existing customers. The interaction analytics in the customer segment identification can help in identifying the dissatisfaction of the customer, enabling the supervisor to train the agent better.  The real-time analytics boost the customer save rate that the agents need to get immediate information about the client to deliver a successful result. It, therefore, reduces the risk of churning and increases business ROI.

Hence, If you wish to find ways to satisfy your customers, train your agents better with the calls to the customers and increase ROI, the functionality of speech recognition technology will help your business. The process can be extended across all the digital and telephony channels to create an omnichannel that can give you unified data about a client, the overall business, and the issues that you might be facing.

To know more about how you can avail the benefits and scale your business, you can contact Knowlarity.

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