Automation is the name of the game these days. According to McKinsey, “45% of the activities individuals are paid to perform can be automated by adapting currently demonstrated technologies,” representing about $2 trillion in annual wages. The push for automation is all about raising efficiency and empowering employees.
One of the ways that automation technology is improving the way that we do business is through Automatic Speech Recognition, or ASR. ASR is a computer modality that allows for automated speech-to-text transcription, and it’s the fundamental concept behind VoiceBase’s transcription API. With our transcription API, you can automatically acquire valuable content from conversations with your customers and clients, which in turn allows you to make more informed business decisions in the future.
You will find that a transcription API will make your intelligence-mining efforts quicker, easier, and more lucrative than relying on human transcription. Here’s how!
Increase the number of calls scored.
Human Transcription: For years, call scoring was a clunky, unproductive process. It would be a person’s job to listen back through countless phone calls and transcribe the conversations, oftentimes only pulling from a fraction of phone calls. While human transcription is often highly accurate, you’d be missing out on heaps of conversations: conversations that could be holding priceless information.
Transcription API: With a transcription API, the accuracy of human transcripts is met with the efficiency of a powerful computer logarithm. According to a study by Stanford University, today’s voice recognition software is three times faster than humans at converting speech to text, and VoiceBase's bleeding edge technology is even faster. Now, instead of only taking a sample section of your phone calls, you are able to view an entire conversation in near-real time with the fastest speech-to-text solution available today. Furthermore, with word confidence scoring and to-the-second time stamping, you’ll know you’re getting the most accurate transcription possible in a fraction of the time.
Discover valuable insights.
Human Transcription: Getting the transcription down quickly and accurately is just one piece of the puzzle to getting the most out of your customer conversations. Now you have to make sense of the data. This means pulling target keywords and phrases that provide you with information that can help you make business decisions and create a better customer experience. Manually pouring through the transcripts and making predictions is a decidedly cumbersome job that perhaps doesn’t produce the best results.
Transcription API: Automatic transcription takes the jobs of transcribing and analytics and rolls it into one package to deliver the most valuable insights possible. As the transcription API is translating the conversation into text, it is also automatically identifying and extracting keywords and phrases that are then stored into searchable topics for instant analysis. Other features such as call classification and event detection allow you to automatically gather information about interactions between your agents and customers.
Lower your bottom line.
Human Transcription: Times once were that you’d need an entire room full of people in charge of transcription. After you have manually transcribed the conversations and analyzed the transcripts for data, you have spent a significant amount of time and manpower which could seriously cut into your return of value.
Transcript API: As stated above, transcription API is all about the balance of speed and accuracy. Once this balance is achieved, that is when you start to see a return on your investment of developing predictive insights from your phone recordings. A transcript API solution is a cheap alternative to hiring that room full of transcribers, and the one-time purchase will prove to seriously defray the overhead of paying all of those employees. Perhaps it can even free them up to perform other tasks within your organization.
Automation of business processes is the new norm in business today, and an investment in a transcription API solution is just one of the many tools that will help you get the most out of your data-collecting endeavors.