There is a serious shift taking place in the market for people analytics. Human Resource Departments are getting serious about analytics to dramatically change the way they do business. 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.
However, HR is stepping up and making the investment with calculated math and data to understand their talent pool, and who knows what, throughout the organization.
HR teams are starting to get great with analytics. Businesses want information that helps them get the right people in the right jobs, makes them happy, gets 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 easier and better your decision making process.
Machine Learning and People Analytics – Why It Works
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.
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.
This year alone, Google is trending “machine learning” and “people analytics” with a sharp upswing in search. These trends are likely to increase as human resource groups understand the value of their data and how to use that data.
It’s more than obvious these trends are growing. Why? They’re necessary and the capabilities are here now to really grab human and machine data to make intelligent decisions. You don’t have to be in engineering or a top CIO to have access to data at your fingertips.
When you’re looking for a technology to support your efforts in machine learning and people data analytics, look for what’s real and how it would fit into your environment. Is the technology stable, effective and intuitive? Is it easy to deploy and manage? Demo and test; ask vendors the hard questions you want to understand. I know you’ve heard this, but hear it again – there are no dumb questions.
Organizations recognize the high barrier to successfully create 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 backup those decisions. Most barriers for successful production and reporting are various silos with multiple unintegrated sources of people, skillset 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. This isn’t rocket science and there are plenty of tools to use to make your HR objectives successful across the board.
To learn more about Capitalize People Data Analytics for HR Success, check out an eBook on the subject here: http://bit.ly/21YhDPn
Latest posts by Joanne Hernon (see all)
- Capitalizing People Data Analytics for Human Resources Success - June 20, 2016