Nick Bandy, CEOOrganizations are ultimately measured by how much they improve over time – whether that’s through sales, productivity, profitability, or customer experience. To do that, a business needs to make the most of its available data to understand not only what has driven results to date, but to help create a predictive roadmap for the future.
There’s hardly an industry where data is more readily available and more analysis-driven than communications. Call centers rely on a vast wealth of data that, though available, is not easy to cultivate. IQventures, a call analytics platform that provides easy-to-use solutions in the call center realm, taps this large pool of data in order to help organizations run their businesses more effectively. “The whole notion of IQventures,” the company CEO Nick Bandy stresses, “is to put together intelligent, easy-to-use solutions for customers in the call center space or any other business environment.” IQVentures offers both reflective self-evaluation, and predictive future planning for companies. By analyzing recorded calls, it helps companies track key indicators from within their recorded calls to improve operations, sales, and customer experience.
The two solutions through which IQVentures works are speechIQ and Businessphone.com. The former is a speech analytics solution that analyzes each and every call that goes through an organization. Isolating the helpful ones from the rest, speechIQ provides the data necessary for specific points in business productivity. The solution has a highly customizable built-in system that focuses only on the points that matter to the customer organization, emphasizing specifically on identified key words and phrases. Partners with IBM Watson, speechIQ can even analyze sentiment. The other IQVentures solution is called Businessphone.com, a cloud-based phone system that, through ISP management, SD-WAN, and Wireless back-up, offers a secure and comprehensive business phone platform.
The SpeechIQ solution comes with a simple, easy-to-use interface that features a lightning fast search engine.
The whole notion of IQVentures is to put together intelligent, easy-to-use solutions for customers in the call center space or any other business environment
It also allows for vast storage integrated into the solution, which stays active as long as customers indicate. The secure data storage makes it possible to run comparison analytics; juxtapose different points of productivity to, say, previous month’s results. As Bandy says, “you can create very robust keyword lists and literally within seconds apply them to calls from a year ago.”
The integrated IQVentures platform has helped both small companies and companies with 500-plus retail locations. From the latter lot they work with a large financial company that, in the beginning, only needed a small percentage of the company’s services. But as the collaboration grew, the company saw the benefits of utilizing all of IQVentures services across their entire organization (corporate office, call centers, retail locations, and more). IQVentures ultimately helped the company with its compliance program, and saved it millions of dollars in telecom and network expense over the coming years.
According to Bandy, the future of IQVentures will be shaped by continuing to “help organizations be smarter from an operational and service standpoint.” While short term goals include improving existing infrastructure, features, and service, the long-term future, in addition to international expansion, is geared toward providing an even more integrated experience. It shapes towards finding ways to combine different types of data with existing call center data to provide robust, predictive analytics to its customers.