The success of a call center business depends on several factors; the most important among them is customer experience. Call center analytics plays a major role in defining the success of the call center.
Contact center analytics is broadly categorized into performance analytics (PA) and customer interaction analytics (CIA). It captures the nuances of a burgeoning movement in centers to express their operational results in terms of overall business objectives.
Call center analytics is growing to meet the demands from call center business.
According to a recent study from Frost & Sullivan, the Asia-Pacific contact center analytics market is set to grow at a CAGR of 13.8 percent to reach $159.8 million by 2018, thanks to the excellent growth drivers that are present in regional markets.
The call center business is growing due to the rapidly changing business environments that force businesses to balance revenue growth and maximize profitability while simultaneously upholding service quality, efficiency, and effectiveness.
Companies are increasingly focusing on customer experience as a way to differentiate their brand in the marketplace. Customer interaction analytics tools can offer enterprises the requisite insight to achieve such goals.
"With cost effectiveness being one of the key parameters for Asia-Pacific contact centers, they will continue to pursue solutions that are likely to offer increased savings and a competitive edge,” said Krishna Baidya, research manager for ICT, Frost & Sullivan Asia-Pacific, in a statement.
“Contact centers across the region will continue to invest in optimizing their operations, resulting in a strong demand for workforce management (WFM) solutions and performance analytics tools," Baidya added.
Asia-Pacific contact center markets currently support multiple customer interaction channels, including telephony, e-mail, social media and the Web, as they look to integrate these channels into a contact center with a holistic view of the customer and the interaction.
"At present, customer satisfaction rates for many cross-channel experiences are poor. Multi-channel analytics will prove to be critical in determining where improvements can be made and will impact the customer experience," Krishna added.
The ability of the newly available contact center analytics to work with unstructured as well as structured data enables companies to transform their quality assessment and monitoring processes and enhance customer experience.
"Analytics applications are compelling because they deliver positive benefits, such as reduced costs and increased revenue, while improving the overall customer experience," said Krishna.