Businesses rely on data to gain insights and make key decisions that impact their bottom line. With data coming from several sources, businesses are left with data silos that are difficult to access and analyze. Businesses have a surplus of information to contend with, however, with so much unstructured data to sift through, it can be more of a hindrance than a help.
Gathering data shouldn’t be just about quantity, but businesses need to consider the quality of the data they collect, too. With AI-driven speech technology, organizations have the power to tap into an otherwise forgotten source of high-quality data. While this data hasn’t been accessed before, new technology like aiOla is paving the way for companies to gather data from speech across multiple locations,
In this article, we’ll take a look at the importance of collecting high-quality data as well as how cutting-edge companies like aiOla are spearheading the movement for data collection through speech.
The ROI of Speech-based Data
With data stemming from so many different sources, measuring the return on investment (ROI) of data and analytics in a company is a difficult task. Today, most businesses have unprecedented access to a variety of data, but too often, structuring and organizing it takes up a lot of resources.
Speech data is a promising new avenue that enables organizations to uncover insights, improve operations, and ultimately, grow. Unlike other sources of data, the ROI on speech-based data comes from its accuracy, usefulness, and how cost-effective it is.
For starters, speech-based data is much more accurate than collecting insights from other sources. Natural Language Processing (NLP) technology has vastly improved in the last few years, enabling organizations to capture data from audio sources with much greater precision. For businesses, this means data can be gathered from day-to-day operations within their own teams to help build more effective workflows, cut down on manual tasks, and gain deeper insights into areas of improvement.
Not only that, but speech data allows businesses to gain a stronger understanding of possible areas for roadblocks or risks, enabling them to cut down on human error and better streamline operations. For example, managers can look at trends to see if there’s a particular slowdown at a certain point of a production line or at a time of day as well as see if there’s a tool that isn’t performing as it should.
Additionally, since all teams need to do is speak as they normally would and continue working on their daily tasks, the cost of running this type of data-gathering platform is much more cost-effective than alternatives. Data is collected quickly and efficiently and can then be implemented to further reduce costs, helping companies cut down significantly on spending in the long run.
As an example, a manufacturing company was looking for a way to reduce assembly time and cut down on costs. By implementing speech technology, the company was able to identify areas of improvement on its assembly line and implement more efficient practices. The technology’s voice control system as well as the data gathered from it enabled the company to cut down on time spent manipulating the assembly line and helped the manufacturer cut down on costs without interrupting the safety procedures or existing workflows of its workers.
Extracting Data From Speech With aiOla
Speech-capturing companies like aiOla enable companies to gather data through speech in any language or jargon. Our unique patented speech technology combines natural language understanding (NLU) with automatic speech recognition (ASR) to turn speech into structured data.
By leveraging this type of technology, organizations in different fields ranging from food safety to oil and gas and beyond can cut down on manual processes and focus on other tasks while data continuously gets captured solely through the power of speech.
aiOla helps companies capture data that would otherwise be lost in order to automate workflows, save time, and increase productivity. Often, up to 50% of the language used in workflows is business or industry-specific language or jargon that’s difficult to translate into quantifiable data with the existing voice solutions available on the market. With aiOla’s speech recognition tool, businesses get a platform that speaks their language, enabling certain operations to go completely hands-free.
With aiOla, you can:
- Accurate capture speech in any acoustic environment
- Capture speech in over 100 languages and in any industry jargon
- Gather data in real-time across multiple global locations
- Reduce time spent on manual operations
- Allow employees to focus on their tasks hands-free to reduce error
- Set access permissions for managers to view incoming data
Through the power of structured speech-based data gathered with aiOla, otherwise lost data can be turned into valuable insights to increase ROI and implement real changes within an organization.
Data From Speech: The Next Frontier
The way your business gathers, manages, and implements information from data is an indicator of its potential to grow. Data gathered from speech can be a valuable asset to any company wanting to increase their data ROI. It has the ability to help certain organizations capture accurate and meaningful data while also cutting down on resources and costs so that workflows can be made more efficient. Not only that, data gathered through speech enables a hands-free workflow, making work safer and less error-prone.
Book a call with one of our data experts to see how aiOla can help you transform your operations and increase the ROI of your data.
