Inbound and Outbound Call Center Analytics
Call Centers or Contact Centers record thousands of data points per second. These data points carry a wealth of information. They help businesses to understand their customers better, optimize their operations, invest smartly, and cut down operations costs significantly. Owing to the new normal (economic slowdown due to Covid-19), it has become even more imperative for organizations to gain better customer trust in lower operational costs and limited resources.
Call Center analytics solution by Intellicus helps organizations delve deep into their data. It helps them understand their market, invest smartly, cut down their operations costs while maintaining and enhancing customer satisfaction rates.
How Inbound Call Centers Benefit from Analytics
Inbound BPO processes are customer support services of businesses via call centers or other communication channels. Companies employ BPOs based on different models. The primary KPI (Key Performance Indicator) to track BPOs performance is analyzing their Service Level Agreements (SLAs). Hence, Inbound BPO processes need to maintain healthy SLAs and strive to keep achieving more. The SLAs focus on attributes like customer satisfaction rates, time taken to resolve a query, customer escalations, customer feedback, agent performance, among others.
The BPOs with modern Call Center Analytics solutions can monitor and analyze their complete operations. They can assess their performance and expected SLAs based on varied factors. It helps them identify gaps, risks, and opportunities to formulate better business operations through fact-based decisioning.
Modern analytics solutions offer machine learning-based analytics that can help Call Centers perform Predictive Analytics on their historical data coupled with the current data to know what to expect in the relevant future. The current pandemic has presented challenges beyond one’s reckoning. In times like these, it would be helpful to know how your business may perform during and post-pandemic times to realign your business operations accordingly. Machine learning-based call center analytics can help you achieve that.
With modern call center analytics solutions, you can also perform sentiment analytics on social media data to understand reactions to your products, services or support and use this information at your strategic front. You can devise more personal strategies based on your consumers’ demography and other factors and improve your ROI.
How Outbound Processes Benefit from Analytics
Outbound call centers offer numerous services. Calls made from outbound call centers include calls for sales, telemarketing, verifications, surveys, fund-raising, debt-collection for banks and other loan agencies, and more. These processes have specific ways to implement and benefit from call center analytics solutions. For example, let us talk about one that requires high-level permutations and combinations to achieve the desired goal. Out of all these processes, the debt collection process requires a handsome investment from the call centers side as they sometimes must recover millions to billions of dollars.
Debt collection is the practice of actively pursuing recovery of payment for loans, EMIs, and services. Debt collection occurs when the payment terms and conditions outlined in a contract between the two parties (creditor and borrower) are breached. Debt collection is one of the most complex portfolios in the Call Center industry. It needs multiple KPI iterations to recover lost revenue; each iteration impacts the recovery margin.
Debt collection analytics solution enables Call Centers to optimize debt collection processes strategically. Call center analytics solutions enable organizations to implement data-driven strategies, curb debts and enhance overall portfolio performance.
Organizations can perform predictive analytics to know if it is even profitable to invest in a portfolio. They can further bring out time-slot wise predictions to know the probability of recovery happening and focus their operations on possible favorable outcomes based on time. This way, they can smartly manage their resources and derive better ROI.
Call centers can analyze agent performance in depth to realize their potency based on demographic data. They can understand agents’ ability to handle low to high credit accounts, stubborn customers and can employ their resources accordingly.
Call Center analytics solutions can structure call center operations and make them more profitable by enhancing operations, decreasing operational costs, and improving customer satisfaction. It can equip call centers to perform consistently in unexpected scenarios, help them make favorable alterations to their operations and keep the process running.