DMG Consulting Releases 2015-2016 Speech and Text Analytics Product and Market Report

6/25/2015

Who: DMG Consulting LLC, a leading provider of contact center, back-office and real-time analytics market research and consulting services

What: Releases 2015-2016 Speech and Text Analytics Product and Market Report

When: Today, 25 June 2015

Where: Available at the DMG Consulting online store

Background:

DMG Consulting LLC, a leading provider of contact center, back-office and real-time analytics market research and consulting services, today released its 2015-2016 Speech and Text Analytics Product and Market Report. DMG has covered speech analytics extensively for years, and with this year’s Report they have expanded the coverage to include text analytics.

Speech and text analytics solutions perform the unique function of identifying the meaning, sentiment and insights contained within conversations and written documents. Speech analytics is a high-value application with great potential to deliver quantifiable strategic and tactical benefits to many departments within enterprises, including the contact center. Text analytics has been around much longer than speech analytics, and despite being a requirement for any company with a social media program, its adoption remains surprisingly slow. Both speech and text analytics are valuable on a stand-alone basis, but when combined with other analytical applications, their contributions become even greater. DMG expects speech analytics and text analytics to become fundamental and core components of contact center and enterprise customer journey analytics solutions.

“Speech analytics is a remarkable technology, in the right hands,” said Donna Fluss, President of DMG Consulting LLC. “Text Analytics is another high-value application that identifies customer insights and sentiment within written communications and social interactions. When speech and text analytics are combined, companies have great visibility into many aspects of the customer journey.”

Adoption of speech analytics continues to be very strong, although the same cannot be said for text analytics. The number of contact center speech analytics seats grew by 21.4%, from 2,889,031 in May 2014 to 3,507,795 as of March 2015. Many companies are familiar with speech (and text) analytics, but the high price of these solutions remains a major impediment to acquisition. However, international adoption of speech analytics picked up great momentum in the past year, a trend that is expected to continue. DMG estimates that the speech analytics market will grow by 20% in 2015, 19% in 2016, 18% in 2017, 17% in 2018, and 16% in 2019.

The 2015 – 2016 edition of the Speech and Text Analytics Product and Market Report explains all aspects of the market and gives end-user organizations the information they need about vendors, products, functionality, technology, the competitive landscape, benefits, ROI and pricing, to select the right solution for their business. The Report covers 9 leading, contending and emerging speech analytics vendors: Avaya, CallMiner, Genesys, inContact, Interactive Intelligence, NICE Systems, OnviSource, Verint Systems and ZOOM International.

To learn more about the 2015-2016 Speech and Text Analytics Product and Market Report, read the abstract and the table of contents, or contact Deborah Navarra at deborah.navarra@dmgconsult.com or 516-628-1098. To order your copy of the Report, visit www.dmgconsult.com.

About DMG Consulting LLC

DMG Consulting LLC is a vendor-independent advisory and consulting firm specializing in contact centers, back-office and real-time analytics. We are a strategic advisor to end users and vendors, large and small, and the financial community. Our mission is to help our clients build world-class contact center and back-office environments by leveraging technology, process and people. We assist management in optimizing the performance of their contact centers by increasing operational efficiency, providing an outstanding customer experience, enhancing loyalty and increasing sales and profits. We also help vendors develop products and services that deliver differentiated innovation and benefits that meet end users’ current and future needs.

DMG Consulting is the leading provider of industry research for many contact center, back-office and analytics IT markets, including: Workforce Management, Workforce Optimization (WFO, Quality Management/Liability Recording), Speech Analytics, Gamification, Text Analytics, Desktop Analytics, Contact Center Performance Management, Surveying/Voice of the Customer, Cloud-Based Contact Center Infrastructure, Outbound Dialing Solutions, Interactive Voice Response Systems and Unified Communications. For more information, visit www.dmgconsult.com.