Time is Money: Getting Crucial Customer Insights When You Need Them

“Time is money”, Ben Franklin said. He didn’t know the half of it. In today’s business world, everything is money, especially data. Good, reliable, actionable data makes you money. Data you can’t see will cost you.

As you know, there are a lot of options out there for getting data out of your customer calls. The big issue here, as Ben said, is time. Data has to be available to you when you need it, as fast as you need it. If you don’t get that, then you’re either leaving insights behind, or your competition is leaving you behind.

Unfortunately, the volume of calls coming in to your business doesn’t usually slow down so your ASR solution can catch up. As a slow ASR system tries to process existing audio data, new data is being created. New customers are calling with new concerns, and you need to know what’s going on — what the customers are saying, how the agents are talking with them — while the calls are happening, not days or weeks later. If your ASR solution doesn’t work pretty quickly — somewhere between real-time to a few days, depending on your organization — it’s going to be letting you down.

All that being said, speed isn’t everything. It’s not hard to find ASR solutions that work in real-time, as long as your business is okay with a transcription full of errors and blank spaces. The challenge for an ASR solution isn’t really time on its own; it’s the combination of time with a reasonable level of accuracy. Completely perfect ASR is probably too slow for your business needs; but super-quick ASR will produce too many mistakes. An effective ASR solution will balance the two requirements, delivering accurate insights about your business in the timeframe that you need to know them.

Receiving insights with accuracy and speed is one of the key requirements for getting the most out of your ASR system. To learn more about this, and other considerations in selecting a transcription solution, click here to download our ebook now!