SANTA BARBARA, Calif., Dec. 6, 2016 /PRNewswire/ -- Invoca, the call intelligence company, today announced it is embedding IBM Watson cognitive computing technology into its Voice Marketing Cloud to help marketers analyze and act on voice data in real time. By integrating Watson's artificial intelligence directly into Invoca's platform, marketers get deep insights about callers and conversations, which they can use to enhance and personalize the customer experience.
Modern marketers are recognizing the need to use artificial intelligence to gain insights from large volumes of data, such as unstructured voice data, to better serve their customers. Forrester predicts that in 2017, "investments in AI will triple as firms work to convert customer data into personalized experiences." Inbound phone calls are an underutilized data resource for marketers as they seek to understand, meet, and even predict the subtlest of consumer needs and intents. Data gathered and leveraged with the help of machine learning can help marketers improve the customer experience, such as delivering a personalized email or display ad in real time, based on buyer intent or preference conveyed during a phone call.
By tapping into Watson to analyze unstructured voice data, Invoca offers companies an entirely new layer of insights that can be quickly and easily captured, analyzed, and put to use. Invoca uses the Watson Speech to Text API to transcribe phone conversations into text, which Invoca analyzes to reveal any insight that might be relevant to the marketer or their business. During the conversation, audio streams through Watson in real-time, transcribing the conversation and documenting the time any word or phrase is spoken. Invoca's proprietary algorithms then identify keywords and phrases that marketers classify as "signals" for specific actions, such as intent to purchase.
Using Invoca's Watson-enabled Voice Marketing Cloud, Frontier Communications can identify spoken phrases in real-time that are taking place between callers and agents to determine the final intent and outcome of a call. For example, to understand the different types of conversions that happen over the phone, Frontier is defining specific intents in Invoca's system such as whether the agent mentions "confirmation number," or "installation date." Frontier then uses this data to understand conversion rates across multiple channels and optimize their marketing spend.
"In the telecommunications industry, as for many other considered purchases, it's common for people to research online, but then head offline to make a phone call as they get closer to purchasing," said Chadd Ryan, Senior Manager of Insights at Frontier Communications. "By working with Invoca, we've been able to analyze and act on a vast amount of data that traditionally lived only in our call center. And with the power of Watson's machine learning, we're able to get an even deeper level of insight from spoken conversations that we can immediately optimize against to improve the customer experience and drive revenue."
"With the rise of artificial intelligence, voice is rapidly becoming the new interface for computing and IBM Watson has vast experience in analyzing conversations to comprehend human capacity and understanding," said Colin Kelley, CTO and Co-Founder at Invoca. "With Watson, Invoca is incredibly well positioned to continue to innovate and build upon our use of machine learning - ultimately ensuring that our customers are harnessing voice conversations in the most cutting-edge way possible"
Invoca helps the modern marketer optimize for the most important step in the customer journey: the phone call. With Invoca's Voice Marketing Cloud, marketers can get granular campaign attribution to understand why customers are calling, gain real-time intelligence about who's calling and analyze what's being said in conversations. Marketers can put this data to work directly in the Voice Marketing Cloud by automating the ideal customer experience before, during and after each call. With an ecosystem of over 30 technology partners, marketers can inject call intelligence into their existing technology stack, giving them the ability to orchestrate a true omnichannel customer journey. Invoca is backed by Morgan Stanley Alternative Investment Partners, Accel Partners, Upfront Ventures, Rincon Venture Partners, Salesforce Ventures, and Stepstone. For more information, please visit www.invoca.com.
About IBM Watson: Pioneering a New Era of Computing
Watson represents a new era in computing called cognitive computing, where systems understand the world in a way more similar to humans: through senses, learning, and experience. Watson continuously learns from previous interactions, gaining in value and knowledge over time. With the help of Watson, organizations are harnessing the power of cognitive computing to transform industries, help professionals do their jobs better, and solve important challenges. As part of IBM's strategy to accelerate the growth of cognitive computing, Watson is open to the world, allowing a growing community of developers, students, entrepreneurs and tech enthusiasts to easily tap into the most advanced and diverse cognitive computing platform available today. Watson solutions are being built, used and deployed in more than 45 countries and across 20 different industries.
For more information on IBM Watson, visit: ibm.com/Watson and ibm.com/press/watson. Join the conversation at #ibmwatson.