What you don’t know can hurt your success.
There is a serious shift taking place in the market for people analytics. People analytics have typically suffered from relying on manually entered data which is only a small fraction (<5%) of what they need to do it right.
Companies are stepping up and making the investment with calculated math and data to understand their talent pool and who knows what throughout the organization.
Data mining isn’t new – analyzing people data and where that data is located throughout the organization is. HR teams are starting to get great with analytics. Businesses want information that help them run the company better, get the right people in the right jobs, make them happy and get them to attract more customers and ultimately drive revenue.
Advanced companies are looking at people-related data in a very strategic way and making better decisions about who to hire, who to promote, how much to pay people, and more. The more data you have to analyze the greater your decisions.
People Data Analytics doesn’t have to be rocket science.
Organizations recognize the high barrier to successfully produce productive workforce reports and people data analytics because of multiple unintegrated sources of people and organizational data. Human Resource organizations are tasked with reorgs, promotions, hiring, etc. without the proper data to make insightful decisions and reporting to back up those decisions.
Most barriers for successful production and reporting are various silos with multiple unintegrated sources of people, skill set understanding and organizational data.
Another barrier is taking HR analytic technology to the cloud without missing a beat and unifying all people data analytics on one platform for real-time data reports.
Building a growing, dynamic people analytics capability is more than a technology tool, it also requires machine learning to gather data from how your employees work, who they work with, and topics they cover on a regular basis to determine expertise.
Organizations are increasingly investing in analytic technologies to integrate and visualize their people data. By slicing data, business leaders are able to look at internal cross-departmental talent insights to make intelligent decisions for talent development, team building, reorganization and recruiting. Don’t get left behind without knowing what’s at your fingertips.
Rethinking how Human Resources analyzes data.
This new digital workplace demands a refresh in our thinking about HR. Rethinking the way we design programs, the tools we use, and how we roll out and communicate solutions.
For all intents and purposes, people analytics driven by machine learning is a game-changer. Interest in machine learning is growing quickly as companies grow, change and increase time to market. Facebook’s Bot Engine, Google’s AlphaGo, Microsoft’s image, speech, and language capabilities, and many others demonstrate how broad the impact could be.