$1,000,000 wasted on Speech Analytics was avoidable

/, Speech Analytics/$1,000,000 wasted on Speech Analytics was avoidable

$1,000,000 wasted on Speech Analytics was avoidable

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I was speaking with someone today that lamented wasting $450,000 on Speech Analytics software that’s now shelfware.  When you really think about it, his company wasted far more than $450k, probably closer to $1 million.  First he said he spent $350k in seat licenses and $100k in additional servers to support the new software. But what about the training and people costs?  And the missed opportunity costs since the shelfware is just sitting?  You see, there’s so much more money wasted than just what was initially spent to purchase the software.

It happens more often than not when companies get in over their heads with powerful Speech Analytics software and they have no one with the deep domain expertise to use it properly.  It’s like dropping a pile of wood in front of some novices vs. master craftsmen and expecting a beautiful home.  Sure, the novices can probably make a house but will it be a gorgeous product?  There will most definitely be a difference in the master’s product, the speed of work and the overall beauty.

Trying to take a sophisticated tool like Speech Analytics software live with the help of a novice will fail every time.  So in purchasing your Speech Analytics software you should ask yourself — are apprentices doing your analytics work or do you have master craftsmen?

Learn more about Speech Analytics.

About Jim Rembach

Jim Rembach is a panel expert with the Customer Experience Professionals Association (CXPA) and an SVP for Customer Relationship Metrics (CRM). Jim spent many years in contact center operations and leverages this to help others. He is a certified Emotional Intelligence (EQ) practitioner and frequently quoted industry expert. Call Jim at 336-288-8226 if you need help with customer-centric enhancements.

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By | 2016-12-05T15:14:58+00:00 June 28th, 2012|Big Data, Speech Analytics|6 Comments