Marchex’s AI-Powered Speech Analytics Sets New Standard, Approaches Human Levels of Accuracy in Consumer to Bus. Conversati...
February 12 2019 - 9:00AM
Business Wire
Driven by investments in data science and deep
learning technology, Marchex delivers best-in-category insights on
customer conversations
Marchex (NASDAQ: MCHX), a leading provider of call
analytics that drive, measure, and convert callers into customers,
today announced that is has reached a new industry standard in
automatic transcription accuracy for consumer-to-business phone
conversations, driven by enhancements to and investments in its
proprietary speech analytics solution.
Marchex’s speech recognition functionality was put to an
independently verified test against several other
commercially-available solutions, based on a series of factors to
directly compare capabilities. Using the same sample audio data
from the business conversation domain, the test measured the word
error rate (WER) which tracks the number of words that are
inserted, deleted or substituted in order to discern overall
accuracy of a transcription. The internal evaluation, which was
verified by enterprise technology analyst Frank Ohlhorst, found
that:
- Marchex achieved an overall WER of
8.4 percent, which is a 20 percent improvement since 2017, and
considerably better compared to other voice recognition
systems.
- Marchex’s speech analytics solution
performed 38 percent more accurately than IBM Watson, 37
percent more accurately than Azure Cognitive Service API, 13
percent more accurately than Google Cloud Speech-to-Text API and
more than 11 percent more accurately than Amazon Transcribe
API.
- Marchex speech analytics technology
is nearing parity to human accuracy, which is roughly a 5
percent WER1.
For industries with a significant reliance on phone calls to
drive sales, such as the automotive, travel and home services
industries, AI-powered conversation analytics technology is
critical to delivering sales enhancing personalized solutions.
Accuracy plays a significant role in being able to automatically
pinpoint the reason why a customer is calling, the outcome of the
conversation, and the ability to classify calls in real-time.
“Marchex takes a multi-pronged approach to resolving the issues
associated with human to human interactions in the enterprise
business space,” said Frank Ohlhorst, technology analyst.
“Processing accuracy is a viable benchmark and Marchex was able to
outperform other solutions, especially where accuracy was
concerned.”
Marchex invested in several key enhancements to its speech
analytics technology, including additional deep learning
capabilities, which have expanded both the accuracy and capacity of
consumer-to-business conversation analysis. In addition, Marchex
has invested heavily in internal resources, including the launch of
the Marchex Innovation Development (MIND) Lab and the addition of
several new data scientists. These investments represent Marchex’s
ongoing dedication to lead and innovate within the speech analytics
sector.
“In recent months we’ve prioritized resources and targeted
investments to further advance our speech technology,” said William
Li, vice president of engineering at Marchex. “With our data
science team leading our MIND Lab, Marchex is delivering meaningful
insights that help businesses accelerate sales and deliver a better
conversational experience for their business.”
1
Human WER, as published in the Microsoft
Research Blog and IBM Watson’s English Conversational Telephone
Speech Recognition by Humans and Machines report.
About Marchex’s speech analytics
Introduced in April 2017, Marchex speech analytics technology
has analyzed more than 140 million consumer-to-business
conversations comprising over 500 million minutes. This
purpose-built solution leverages machine, deep learning algorithms
and AI-powered conversation analysis functionality designed to help
enterprise brands solve complex, industry-specific business
challenges in managing, monitoring, and tracking phone calls at
scale. With the intelligence and insights from Marchex’s
conversational analytics solutions, brands are empowered to
optimize their media spend and accelerate sales.
About Marchex
Marchex is a leading provider of call analytics that drive,
measure, and convert callers into customers. The company
understands that the best customers are those who call a company –
they convert faster, buy more, and churn
less. Marchex provides solutions that help companies
drive more calls, understand what happens on those calls, and
convert more of those callers into customers. Marchex’s actionable
intelligence strengthens the connection between companies and their
customers, bridging the physical and digital world, to help brands
maximize their marketing investments and operating efficiencies to
acquire the best customers.
Please visit the Marchex blog or @marchex on Twitter
(Twitter.com/Marchex) to learn more.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190212005257/en/
Investor Relations:Trevor Caldwell,
206-331-3600ir@marchex.comorMedia Inquiries:Chelsea Looney,
206-331-3644clooney@marchex.com
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