Market Research Report
2018-2019 Workforce Optimization Product and Market Report
|Published by||DMG Consulting LLC||Product code||247395|
Delivery time: 1-2 business days
|2018-2019 Workforce Optimization Product and Market Report|
|Published: January 23, 2019||Content info:||
DMG Consulting's 15th annual Workforce Optimization Product and Market Report presents the industry's most detailed and comprehensive analysis of this influential technology sector. The Report provides all of the vendor, product, functional, technical, pricing and operational information required for contact center, IT and enterprise leaders to select the right solution and vendor to meet their current and future workforce optimization (WFO) needs. Recording and quality assurance (QA) continue to be the core components of WFO solutions, and true suites also include at least 4 of the following complementary applications: workforce management (WFM), contact center performance management (CCPM), speech analytics (SA), text analytics (TA), desktop analytics (DA), enterprise feedback management (EFM)/ surveying, eLearning/coaching, gamification, customer journey analytics (CJA) and robotic process automation (RPA). The Report also covers back-office and branch WFO capabilities.
The WFO market has come a long way since DMG Consulting began covering this sector 15 years ago. The service economy has undergone many changes, all of which benefit from real-time contact centers, the subject of the book The Real- Time Contact Center, published by Donna Fluss, President of DMG Consulting, 13 years ago. Real-time service is a hallmark of the digital transformation: immediate responses are required for omni-channel service, a globalized economy with customers around the world, etc. The real-time transition is well underway.
Automation and artificial intelligence (AI) are changing the way companies operate, and allow businesses to re-imagine many aspects of their operations, including their employees. Automation initiatives are priorities in most industries. Today, there are applications and frameworks that can be inserted into attended or unattended processes and quickly implemented to partially or completely automate a workflow. RPA and desktop process automation (DPA) allow enterprises to automate routine, repetitive tasks; this allows businesses to cut thousands of dollars per day from their budget. It also allows human resources to be re-allocated to more rewarding cognitive tasks.
Customers are also beneficiaries of automation in the enterprise. Interaction analytics, comprised of speech and text analytics, allows organizations to listen to customers and prospects across voice and digital channels to obtain a comprehensive understanding of their experience. It reveals details about customers' transaction paths through the organization: which touchpoints they used, the route they took, the duration of each step, and where the journey ended. It provides a first-hand account of customers' perceptions of the service journey by capturing sentiment and emotion, and the degree of effort expended. Internally, interaction analytics also allows a company to monitor service quality from the customer's perspective.
Predictive analytics is an emerging strategy for improving and personalizing the customer experience. It uses data mining, statistical techniques and machine learning to identify relationships, patterns and trends to anticipate the likelihood of future events and behaviors, as well as their business impact. In doing so, predictive analytics can be used to understand what customers need and want, and then kick off real-time agent guidance, next-best-action recommendations and optimal marketing offers tailored to customer needs.
Contact centers are not going away for the foreseeable future, but they are going to change. Technology will be used to “work smarter, not harder.” Transaction handling will be personalized and matched to the ideal resource. Highly sophisticated agents will have a new generation of servicing tools at their fingertips to achieve optimal outcomes. As exciting as changes have been for contact centers, the best is yet to be.
The 2018-2019 edition of the “Workforce Optimization Product and Market Report” covers 8 leading and contending vendors: Aspect, Calabrio, DVSAnalytics, Genesys, NICE, OnviSource, OpenText and Verint. The Report analyzes the servicing, business and management trends that are redefining how enterprises and their contact centers view and interact with their customers, prospects and employees. This Report compares WFO market activity for first-half 2018 vs. first-half 2017, and provides 5-year market projections for all 12 WFO application components