On a broader level, contact center analytics can be termed as an integrated pack of tools adopted by contact center segment of diverse businesses for effective operational performance. These analytical tools aid the contact center segment in tracking key performance indicators (KPIs) and drawing insights about business intelligence (BI). Some of the key reasons in adopting contact center analytics are to track and measure business performance at each level, to monitor and review performance.

The significant benefits of contact center analytics is that it helps in monitoring the service quality of each employee-customer interactions and thereby help in streamlining operational and business issues. Contact center analytics also aid in reducing operational & overhead expenses. One time implementation of contact center analytics alleviate frequently repeated issues. Furthermore, customer experience is the valuable element in any contact center business segment. So it’s important in transforming this experience into a metric to address customer issues on a persuasive level with the help of contact center analytics.

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A focus on customer experience is increasingly adopted by contact center business segment irrespective of the size, type, core activities and position of contact centers. This factor is expected to drive the contact center analytics market. As more customers are turning towards other marketing channels, contact center segments are turning towards effective monitoring of past and present recordings to assure minimum churn of customers.

Another factor which is expected to drive this market is the performance management of contact center workforce. Most of the businesses across globe is facilitated by the contact center segment for effective communication of its products or services. Hence, it becomes very much essential to manage the contact center workforce efficiently.

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The contact center analytics can be segmented broadly on the basis of type of analytics such as speech analytics, text analytics, predictive analytics, self-service analytics, desktop analytics, cross channel analytics, and others. Besides, the contact center analytics is also segmented on the basis of Banking, Financial Service and Insurance (BFSI), wholesale & retail, IT & telecom, healthcare, logistics & transportation, hospitality & travel, media & entertainment, utilities, and others.

Additionally, the contact center analytics market can be geographically bifurcated as North America, Europe, Asia Pacific, Middle East & Africa and South America.

Key players playing major role in the contact center analytics market includes 24/7 Customer, Inc., Aspect Software, Inc., Calabrio, Inc., CallMiner, Inc., EdgeVerve Limited, Five9, Inc., Genesys Telecommunications Laboratories, Inc., Genpact Limited, inContact, Inc., Servion Global Solutions, West Corporation and ZOOM International.

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