Marchex Announces Accuracy Enhancements to Best-in-Class Conversation Analytics
Industry innovator improves components of speech analytics accuracy by nearly 15% comparatively, providing marketers and sales teams with actionable insights from phone conversations between consumers and brands
For industries with a significant reliance on phone calls from consumers to drive appointments and sales, such as automotive manufacturers, AI-powered conversation technology offers a better understanding of the customer experience and the most accurate view into exactly what happens during every call, at scale.
“When General Motors rolled out Marchex Speech Analytics, we were amazed
at the insights it provided,” said
Today’s announcement comes on the heels of a significant enhancement to the Marchex Speech Analytics dataset, which has improved accuracy of transcription by reducing the Word Error Rate (WER) by 15 percent. The increased accuracy of conversational speech recognition enables marketers and sales teams to gain deeper insights from inbound phone calls, which can then be used to optimize media spend and sales operations.
As the only call analytics company to have built its own conversation
analytics platform, Marchex’s Speech Analytics technology was found to
be more reliable in various areas of application than IBM’s Watson,
according to a recent comparison in Gigaom.
While traditional call analytics solutions typically rely on
training-data in isolated data sets,
“The English vocabulary consists of more than 125,000 words, which can
be put together in trillions of ways,” said
As a recent industry study
indicates, customers who call a business are more valuable prospects for
that business than those who don’t. The report found that phone
customers convert faster, spend more, and have a higher retention rate
than customers who contact brands via other channels such as in-store or
online. This further highlights the need for businesses to leverage
conversation analytics technology to better understand what is happening
during a customer’s journey, so they can convert more callers into
customers. To demo Speech Analytics, contact
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Source:
Marchex, Inc.
Investor Relations
Trevor Caldwell, 206-331-3600
ir@marchex.com
or
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