DMG Consulting Releases 2021 – 2022 Interaction Analytics Product and Market Report

Benefits, insights and agility for companies transitioning to the “new world of work” 

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

What: Releases 2021 – 2022 Interaction Analytics Product and Market Report 

When:  Today, 3 June 2021

Where: Available at the DMG Consulting online store

Background

DMG Consulting LLC, a leading provider of contact center and back-office market research and consulting services, today released its 2021 – 2022 Interaction Analytics Product and Market Report

The Report focuses on contact center and service-related uses of interaction analytics (IA). It also covers broader applications of IA throughout the enterprise, including its value in operationalizing the findings from voice-of-the-customer (VoC), customer journey analytics (CJA) and customer experience (CX) solutions. 

Interaction analytics has proven its effectiveness in both the best and worst of times. During the COVID-19 pandemic, it became an essential application for enterprises, not just contact centers, as it provided insights into customer wants and needs as well as employee performance, data that was unavailable from any other source. Because IA can address voice and digital channels, companies can gain visibility into what is happening across channels and business units and obtain a comprehensive understanding of the customer journey. Deriving vital data from customer interactions has allowed companies to adopt a  “customer-first” approach to service, enabling them to pivot to address rapidly changing customer needs.

The world of work has been transformed by the pandemic. Work-at-home (WAH) is here to stay.

Enterprises need data on how well their employees are delivering service on an ongoing basis. Interaction analytics enables companies to alter the outcome of customer conversations, responding with real-time alerts and next-best-action guidance to agents, regardless of where they are located. Interaction analytics can perform automated quality management (AQM), more accurately overseeing agent performance and gathering customer insights more effectively than the traditional manual methods of quality management and surveying. This information is key to enabling a company to be agile in addressing customer expectations for service and for optimizing employee performance in order to deliver a consistently high-quality CX. “Interaction analytics is the best source for important customer and employee insights,” said Donna Fluss, President of DMG Consulting. “The output from IA applications enabled companies to keep their employees safe, sustain the integrity of their brand, adapt to an increasingly digital economy, and remain relevant during a period of unprecedented upheaval and challenges.”

Once the pandemic is past, DMG expects to see a continuation of the IA replacement cycle, driven by substantial enhancements in the underlying natural language processing (NLP) and natural language understanding (NLU) technologies, improved user interfaces, and better reports and analytics. DMG expects the number of seats in the IA market to increase by 12% in 2021, 11.5% in 2022, and 10% in the next three years, 2023 – 2025. These are conservative projections. If IA vendors succeed in selling outside of contact centers, the consumption model will change and adoption will be much greater. 

The 2021 – 2022 Interaction Analytics Product and Market Report features seven vendors who offer an interaction analytics solution as part of a broader WFO offering or as a best-of-breed solution. These vendors are: Calabrio, Clarabridge, NICE, OnviSource, Sestek, Verint and Xdroid. Three other vendors, CallMiner, Observe.ai, and Yaqtrac, are covered at a higher level. To learn more about the 2021 – 2022 Interaction 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 advises enterprises, vendors and the financial community on all aspects of building, acquiring, operating, optimizing and investing in contact centers, to enhance their enabling technologies and the customer experience (CX). A leader in vendor-agnostic research and consulting, DMG is the only firm whose expertise spans operations and technology. DMG is the primary source for market activity and revenue data and analysis for contact center IT segments. It publishes annual in-depth reports on contact center and back-office industry sectors, including cloud-based contact center infrastructure (contact center as a service, CCaaS), digital customer service, intelligent virtual agents, interaction analytics, robotic process automation (RPA), workforce management (WFM), workforce optimization (WFO) and more. These reports provide the accurate market share, trend identification, growth predictions, functional capabilities and pricing information DMG’s global clients rely on to make critical business decisions. Learn more at dmgconsult.com.