Speech Analytics for Utilities: Unlock Customer Insights

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Written by: Chirag Shah

While customers generally contact call centers for a specific reason, they usually bring up a number of topics during a single call. What if each and every one of those calls could yield valuable data, far beyond what is tracked by call dispositioning? Through speech analytics technology, utilities can turn customer calls into an abundance of customer insight by tracking sentiment, word choice and overall satisfaction.

Utilities have unique opportunities through analytics when it comes to the customer’s experience. While all utilities want to reduce call volumes, increase self-service and make the customers happier, the question remains: “how can this be done?”

We believe that speech analytics is the key to unlocking customer insight.

Analytics are integral to business.

For utilities, challenges like load forecasting and grid management are manageable only through continuous analysis. According to the Utility Analytics Institute, utility spending on data analytics in North America is expected to grow 29 percent year over year, totaling more than $2 billion in 2016.

Now, analytics are being applied to customer operations and are available to companies of all sizes. For example, by applying speech analytics to customer calls, utilities can now analyze everything the customer and agent discussed and how the agent represented the utility in that interaction.

Analytics allow you to know what your customers want, before they want it.

Predictive analytics can help utilities anticipate customer behavior and answer questions such as when customers are likely to enroll in self-service, sign up for paperless billing, participate in energy efficiency and conservation initiatives, or even pay their bills. By harnessing data to predict and encourage customer behavior, utilities can improve their customer operations and the customer experience, too.

Chirag is Director, Consulting and Analytics at Vertex, and brings over 17 years of hands-on experience using analytics and technology to drive business value for our customers. He brings deep insight in the areas of customer experience management, operational improvement and business/technology strategy alignment. Chirag has worked as a management consultant across a range of industries including utilities, property & casualty insurance, healthcare, and high tech, and also has a background in technology solutions delivery, pre-sales and marketing. Chirag has a Masters in Computer Engineering from Texas A&M University, Bachelors in Electrical Engineering from National Institute of Technology, and an MBA from the Kellogg School of Management.

Speech Analytics

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