Based on its recent analysis of the customer interaction analytics market, Frost & Sullivan recognizes Nexidia, Inc. with the 2015 North American Frost & Sullivan New Product Innovation Award for its Nexidia Interaction Analytics solution. The solution delivers seamless scalability and significant reduction in the search time taken to analyze unstructured forms of data, such as audio, SMS, social media, chat, e-mail, and surveys. Supporting massive parallel processing capability in a distributed architecture, the solution enables organizations to gather desired query results more efficiently than competing solutions.
Nexidia has painstakingly developed a proprietary core technology for performing speech analytics in both real-time and post-call scenarios. Called “Neural Phonetic Speech Analytics™” because the processing occurs on a neural network-based model, this technology combines the strengths of sentiment, word, and topic analysis. Nexidia claims that Neural Phonetic Speech Analytics™ is the fastest and most flexible speech technology available in the marketplace.
“The Nexidia Interaction Analytics solution’s innovative architecture is built on the Nexidia Search Grid™, a MapReduce style framework that offers fully distributable and scalable processing,” said Frost & Sullivan Industry Analyst Swapnadeep Nayak. “This architecture creates a single hosting environment that can handle massive amounts of data and is 50 times more scalable than the alternatives. In fact, some of Nexidia's largest customers are each ingesting more than 100,000 hours of audio a day and are retaining over a year's worth of calls for analysis.”
Nexidia Interaction Analytics is a much more flexible application than most competing programs. The flexibility is evident in two important areas. The first is that the solution’s phonetic indexing is not dependent on a dictionary, enabling users to easily change the logic of a topic and reanalyze previously stored data rapidly. The second is the application’s ability to process thousands of queries at once, meeting the market's desire for in-depth analysis across a broad spectrum of critical subjects.
Additionally, the company’s real-time interaction analytics product, Nexidia Scan and Agent Assist, easily integrates with existing applications, helps companies monitor agent performance, and allows contact centers to respond to issues as they occur. As calls happen in real time, the Scan and Agent Assist searches for a defined set of keywords and, once found, triggers actions such as alerting an agent, risk management, or a contact center supervisor.
Meanwhile, Nexidia's OnDemand offering provides companies with the benefits of customer interaction analytics without the cost or infrastructure of an onsite system. Nexidia OnDemand provides organizations with an end-to-end “software as a service” offering in a highly secure data center that complies with the Pay Card Industry Data Security Standard (PCI DSS).
Another aspect of Nexidia's services that ensures reliable outcomes for the customer is the level of engagement from start to finish. It’s Consulting and Managed Analytic Services teams work alongside clients to confirm that the data that is collected and analyzed results in actionable insights that can be used to address specific concerns. Integrating closely with customers, these teams provide end-to-end solutions as well as program management.
“Using interactive visualization tools to display reports, data categorization, performance, and trending data, the Nexidia Interaction Analytics solution is intuitive and user-friendly,” observes Swapnadeep. “These functionalities aid user-customized exploration and analysis, and are not present in competing solutions. These features, coupled with its services offerings, make Nexidia a sought-after provider of complete solutions for a variety of business challenges.”
Overall, Nexidia Interaction Analytics aids companies in drawing correlations, viewing trends, uncovering root causes, and building predictive models so they can approach their customers in new and innovative ways.
Each year, Frost & Sullivan presents this award to the company that has developed an innovative element in a product by leveraging leading-edge technologies. The award recognizes the value-added features/benefits of the product and the increased ROI it offers customers, which, in turn, increases customer acquisition and overall market penetration potential.
Frost & Sullivan’s Best Practices Awards recognize companies in a variety of regional and global markets for outstanding achievement in areas such as leadership, technological innovation, customer service, and product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research.
About Nexidia, Inc.
Nexidia (nexidia.com) provides customer interaction analytics solutions with patented technologies and breakthrough applications that enable companies to drive business transformation by capturing, making sense of, and using the full range of communications they have with customers. As the traditional voice of the customer expands from the contact center to include surveys, email, chats, and social media sites, Nexidia provides software and service expertise to help companies synthesize this data into both a tactical tool for operational improvements and a catalyst for strategic business transformation.
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