The latest version of NICE’s software performs “word spotting,” scanning sound files for predetermined words or phrases, such as “cancel my order” or the names of competitors. It can even search for anger in callers’ or agents’ voices by examining the pitch, speed, and other criteria, much as a lie detector would.

Because conversations can be analyzed as easily as a spreadsheet, they represent a potential gold mine of information about why customers buy (or why not), which competitors are stealing customers, and which agents defuse irritated callers. The system identifies the most valuable customer interactions, says Chris Files, quality development facilitator at FedEx Custom Critical, which is about to employ word spotting. One of the search terms she plans to use is “wow.” “Why not?” she asks. “We want to track the customer experience.”

–This call is being recorded, Fast Company