GoResponse Telephone Answering Service Staff

NICE dominating with speech analytics software

Happy Call Center OperatorNew market research from DMG Consulting shows that NICE has gained a share of the speech analytics market approaching 50 per cent, and this can partly be attributed to the company’s “Analytics with No Limits” strategy. With many call centres moving to speech analytics as a way to drive their business forward, NICE is likely to continue dominating the sector.

DMG Consulting’s findings show that NICE takes a 47.2 per cent share of all telephone answering services seats with its recording-agnostic tools. This is more than twice the share of the nearest competitor, and it shows the degree of their market dominance. NICE is also widening the gap, with the growth rate for the current year up 42.2 per cent against the previous 12 months’ 34.9 per cent.

DMG Consulting President Donna Fluss said: “Speech analytics is a must-have application for companies that appreciate the importance of delivering an outstanding and cost-effective customer experience. Companies in many verticals now recognise that speech (and text) analytics is the most effective tool for gaining insights into customers’ and prospects’ opinions, needs and wants. Businesses that want to provide personalised service to their customers must ‘know’ them in order to create the right journey.”

Meanwhile, NICE President Miki Migdal revealed that analytical tools have become the heart of data-driven firms. This means that across a variety of verticals, the demand for speech analytical solutions is growing, particularly due to call centres realising that powerful insights can be gained by looking into consumer interactions.

With customers taking centre stage in business operations, it is likely that an ever-increasing number of businesses will turn to speech analytics for help.

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