The Best Contact Center Interaction Analytics: The 2024 CRM Industry Leader Awards

The Market

Businesses are swiftly grasping the value of data-driven insights in improving customer interactions and streamlining processes to help them personalize services, improve first-call resolution rates, lower operational costs, and ultimately increase customer happiness and loyalty.

While largely limited in its early days to speech analytics covering phone call recordings from telephony and quality monitoring vendors, today the technology is so much more due to the incorporation of cutting-edge technologies like artificial intelligence and natural language processing, enabling real-time and predictive insights, sentiment analysis, trend spotting, supervisor alerting, and even prescriptive guidance to address problems. Today, it entails monitoring many channels of customer engagement, such as phone calls, emails, texts, live chats, and social media. Verified Market Research has projected the market to grow at a compound annual rate of 18.6 percent through 2031, when it will be worth $8.6 billion, up from $1.9 billion today.

The Top Five

CallMiner, which got its start in the speech analytics space, has come a long way in the years since. Today, the company “has a strong analytics solution that has been designed with the needs of the contact center operations leader in mind,” says Christina McAllister, a senior analyst at Forrester Research. “Its solution is full-featured and appropriate for enterprise-scale conversation analytics and automated quality monitoring.” Donna Fluss, president of DMG Consulting, is even more direct in her praise of CallMiner: The company, she says, “is true best of breed. [Analytics] is all they do, and they do it very well.”

According to some analysts, Cresta was one of the early pioneers in bringing generative AI into its contact center analytics products, but there are other reasons to include the vendor on a contact center analytics short list. “Cresta has a compelling real-time conversation analytics solution complete with clever capabilities centered on getting to the why behind the top drivers of revenue and satisfaction in the contact center, offering fairly rare insights in this market,” McAllister says.

Compared to the other top vendors in the contact center analytics space, Genesys doesn’t have as rich a history, but it has made some very smart investments that have led to a leadership position. “Genesys continues to invest in its analytics and AI capabilities, both organically and through acquisition, and to invest in more prebuilt tools and integrations to make it easier for customers to analyze and optimize interactions across all channels,” says Rebecca Wettemann, founder and CEO of Valoir.

NICE, an analytics vendor with a long history in the space, has dominated the market for years with a “feature-rich solution built on proprietary AI, strong conversational analytics-related products for real-time guidance, automated quality management, and automatic post-interaction summarization,” according to Fluss. “Experience-sequence analysis provides unique insights into multi-touch customer experiences to deliver a more complete picture of what happened.”

Verint, the top recommendation-getter in the category, is hailed for its strong solution built on its proprietary DaVinci generative AI technology. This, according to Fluss, has led to multiple purpose-built bots for personally identifiable information redaction, sentiment scoring, transcription tuning, experience management, and interaction summaries and wrap-up. And, unique to Verint, its reporting environment includes an audible text-to-speech, AI-powered voice reader. Wettemann praises Verint for its breadth of functionality, noting that its “ability to analyze multiple data types—interaction, survey, and workforce performance data—with DaVinci AI and its other analytics and its open data hub means it can help customers glean the insights they need to automate interactions and improve outcomes.”

Niche Players

Analysts this year named ASAPP, Observe.AI, HumanFirst, Invoca, SearchUnify, and USAN as niche players worth a look in the contact center interaction analytics space.