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Nice Systems has announced that its results for the first quarter of 2008 beat expectations, and has raised its forecast for the rest of the year. Despite a tightening economy, all areas of Nice’s business performed well; sales were strong for its enterprise contact center products, its security systems and Actimize, a recently acquired product that uses complex event processing to analyze and manage transactions in real time. CEO Haim Shani said there was were no significant differences in sales among geographic areas and that Nice is achieving good growth in the finance sector, which he said was driven by an enhanced need for security in transactions and by regulatory requirements. He cited as drivers in the enterprise sector the need to improve operational efficiencies and customer retention, both essential business requirements during tough times.

Shani was particularly bullish about the prospects for Nice’s interaction analytics product and said it appears that early adopters are achieving more insight into their customers by analyzing recorded calls. He also touted the business potential of a recently announced partnership with Cisco Systems that supports the recording of voice over Internet protocol (VoIP) calls at branch offices. It is early in the partnership, but Haim sees this as an untapped market with unlimited potential.

Ventana Research believes that companies are beginning to realize the potential of analyzing all forms of unstructured data: letters, e-mail, fax, instant messaging and Web scripts, text messages and call recordings. We see analyzing these sources as key to understanding the customer’s experience, and through that being able to improve customer satisfaction, loyalty and retention, and generate new sales. We think that Nice is on the right track with these products, as are the companies that deploy them.

Related Research Notes:
Customer Performance Management Research Agenda for 2008

Customer Experience Management Can Refocus Contact Centers

Customer Experience Management Technology