All the more reason for contact centre analytics, says Frost
By Digital News Asia July 9, 2013
- Contact centre analytics improves overall customer experience, increases revenue and reduces costs
- Asia Pacific contact centre analytics market to grow at a CAGR of 13.8% to reach US$159.8 million by 2018
IN rapidly changing business environments under increasingly uncertain economic conditions, enterprises face the mammoth task of balancing revenue growth and maximising profitability while simultaneously upholding service quality, efficiency, and effectiveness.
As more companies aim to use excellence in customer service to differentiate their brand in the marketplace, there is a strong focus on the customer experience. Customer interaction analytics tools can offer enterprises the requisite insight to achieve such goals.
Contact centre analytics, broadly categorised into performance analytics (PA) and customer interaction analytics (CIA), is a means of capturing the nuances of a burgeoning movement in centres to express their operational results in terms of overall business objectives, Frost & Sullivan said in a statement.
“The Asia Pacific contact centre analytics market is well set to grow at a CAGR (Compound Annual Growth Rate) of 13.8% to reach US$159.8 million by 2018 due to excellent growth drivers that are present in regional markets,” said Krishna Baidya, research manager for ICT, Frost & Sullivan Asia Pacific.
“With cost effectiveness being one of the key parameters for Asia Pacific contact centres, they will continue to pursue solutions that are likely to offer increased savings and a competitive edge.
“Contact centres across the region will continue to invest in optimising their operations, resulting in a strong demand for workforce management (WFM) solutions and performance analytics tools,” he added.
Contact centres across Asia Pacific markets currently support multiple customer interaction channels, including telephony, email, social media and the Web, as they look to integrate these channels into a contact centre 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 said.
The ability of the newly available contact centre 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.
APAC remains fastest growing region for contact centre services: Frost