2023 – 2024 Real-Time Guidance Product and Market Report
Published August 29, 2023
It has taken close to 20 years, but the convergence of the processing power of the cloud, interaction analytics (IA), artificial intelligence (AI) technologies, and a shift in what agents are empowered to do for customers is finally making the concept of real-time contact centers a reality.
Shifting the service paradigm from reactive to proactive
Real Time Guidance (RTG) solutions are transforming the customer and employee experience (CX and EX) by empowering employees with in-the-moment guidance. From presenting the best recommendations for handling objections to close a sale to supplying procedures to resolve customer inquiries or identifying approaches to increase collections, RTG solutions have countless possibilities. This Report explores the increasing importance, value, and benefits of these emerging solutions.
Real-time guidance applications utilize IA and AI technologies, including generative AI, to structure, analyze, and understand live conversations as they occur. Insights from this analysis are combined with contextual information about the interaction and used to deliver the content, procedures, knowledge articles, scripts, and guidance to assist agents and drive positive outcomes. Especially beneficial for new hires and supporting work-at-home/hybrid staffing models, RTG expedites the agent ramp-up process by providing an “always available” coaching/training resource. Productivity increases when agents have on-the-fly access to the right information to handle customer interactions, eliminating the need for transfers, holds, and repeat contacts.
DMG Consulting LLC’s 2023 – 2024 Real-Time Guidance Product and Market Report analyzes the emerging RTG market, vendors, and products. This Report provides a comprehensive and insightful analysis of the RTG market, competitive landscape, products, and upcoming innovations, as well as market, business, and technology trends and challenges for this essential application. It explores product pricing and offers implementation best practices to help users realize a rapid and strong return on their investment. The Report also reviews the analytics-enabled quality management (AQM) and integrated coaching capabilities that are included or offered by the 8 featured RTG solution providers: Balto, CallMiner, Cresta, NICE, OnviSource, Sestek, Verint, and Xdroid.
- Real-time guidance explained, including a high-level overview of the key functional capabilities in the 8 featured RTG solutions
- Market, business, and technology trends and challenges driving product innovation and influencing enterprise investments
- Overview of how RTG solutions are leveraging traditional AI, generative AI, and automation
- A look at how RTG solutions are transforming the EX, elevating the CX, and delivering quantifiable productivity improvements
- Examination of the ways enhanced transcription, emotion detection, and sentiment analysis are being leveraged to improve and extend RTG capabilities
- How AQM solutions deliver a comprehensive omnichannel approach to QM and improve agent coaching, performance, and engagement
- Market activity and 5-year revenue projections
- Review and assessment of the RTG competitive landscape
- High-level company information and overview of the core and optional modules in the 8 featured RTG solutions, as well as packaged/verticalized offerings
- Implementation analysis including third-party integrations, training/workshops, and pre- and post-implementation professional services
- Benefits for building a business case and ROI timeframes for an RTG and AQM implementation
- Pricing comparison and analysis for a 250-seat cloud-based RTG and AQM implementation
- Detailed company reports for the 8 RTG vendors, analyzing their products, functionality, and future product development plans
- Executive Summary
- Introduction
- DMG Consulting Research Methodology
- 3.1 Report Participation Criteria
- Real-Time Guidance Defined
- 4.1 Practical Application of RTG
- 4.2 High-Level Functional Capabilities
- Operationalizing Real-Time Guidance
- Real-Time Guidance Trends and Challenges
- 6.1 Real-Time Guidance Trends
- 6.2 Real-Time Guidance Challenges
- What’s Next for the Market
- Real-Time Guidance Transforms the Customer and Agent Experience
- 8.1 Artificial Intelligence, Machine Learning, and Automation
- Transcription
- Emotion Detection and Sentiment Analysis
- AQM: All-In for the Win
- Real-Time Guidance Market Activity
- Real-Time Guidance Market Projections
- Real-Time Guidance Competitive Landscape
- 14.1 Company Snapshot
- 14.2 Product Offering
- 14.2.1 System Administration
- 14.2.2 Security and Compliance
- 14.2.3 Business Intelligence, Reporting, and Dashboards
- Implementation and Payback Analysis
- Pricing
- 16.1 Cloud-Based Pricing
- Company Reports
- 17.1 Balto Software, Inc.
- 17.2 CallMiner, Inc.
- 17.3 Cresta
- 17.4 NICE
- 17.5 OnviSource
- 17.6 Sestek
- 17.7 Verint Systems
- 17.8 Xdroid
Appendix: Real-Time Guidance Vendor Directory
Table of Figures
- Figure 1: Real-Time Guidance in Action
- Figure 2.1: High-Level Functional Summary
- Figure 2.2: High-Level Functional Summary
- Figure 3: Virtual Assistants
- Figure 4: RTG for Live and Automated Employees/Agents
- Figure 5: Predictive Analytics
- Figure 6.1: Operationalizing RTG
- Figure 6.2: Operationalizing RTG
- Figure 7: 2023 Real-Time Guidance Trends
- Figure 8: 2023 Real-Time Guidance Challenges
- Figure 9: Future Enhancements, by Category
- Figure 10.1: Real-Time Guidance Functional Capabilities
- Figure 10.2: Real-Time Guidance Functional Capabilities
- Figure 11: Artificial Intelligence, Machine Learning, and Automation
- Figure 12.1: Transcription
- Figure 12.2: Transcription
- Figure 13.1: Emotion Detection and Sentiment Analysis
- Figure 13.2: Emotion Detection and Sentiment Analysis
- Figure 14: Omnichannel AQM Improves Accuracy, Efficiency, CX and EX
- Figure 15.1: Analytics-Enabled Quality Management (AQM)
- Figure 15.2: Analytics-Enabled Quality Management (AQM)
- Figure 16: RTG Revenue Growth Projections, 2023 – 2027
- Figure 17: RTG Competitive Landscape
- Figure 18.1: Company Information as of March 31, 2023
- Figure 18.2: Company Information as of March 31, 2023
- Figure 19: Real-Time Guidance Product Information
- Figure 20.1: System Administration/Configuration
- Figure 20.2: System Administration/Configuration
- Figure 21.1: Security and Compliance
- Figure 21.2: Security and Compliance
- Figure 22.1: Business Intelligence, Reporting, and Dashboards
- Figure 22.2: Business Intelligence, Reporting, and Dashboards
- Figure 23.1: Implementation and Payback Analysis
- Figure 23.2: Implementation and Payback Analysis
- Figure 24: Pricing for a 250-Seat Cloud-Based Interaction Analytics and Real-Time Guidance Solution