Big Data is the term used to describe data sets that are too large or complex for traditional software to process, but also refers to the analysis of such data sets and the extraction of insight and predictions that follow. Data is the latest source of competitive advantage and is, as such, highly valuable. However, advances in technology are allowing more people access to its power and new types of data – such as Big Voice – are also becoming available.
A major developing field of data science is voice analytics – particularly for customer service industries. Businesses can gain important insights into their customers by using Big Data techniques to analyse huge volumes of data from recorded calls. Consumer intelligence can help contact centres learn how to reduce call time and repeat calls, identify dissatisfied customers, and analyse employee performance.