Despite growing evidence of the benefits of exploring analytics and heavy support from the research literature, Oracle (2011) reported many businesses still face challenges with understanding their workforce and how to utilize staff most effectively. Luckily, ‘Big Data’ or ‘predictive analytics’ applications in HR have flourished and become recognized as a diagnostic and projective tool for maintaining a competitive advantage. Because of this, HR professionals have coined their version of Big Data—HR Analytics.
So, what’s the BIG deal with HR Analytics? It’s all in the benefits! HR Analytics offer a platform to help organizations overcome workforce-related challenges by providing a data-driven information highway useful for developing strategic planning strategies and initiatives. These types of data allow information about the workforce to be leveraged to improve organizational performance and efficiency (Bersin, 2013). Leveraging of employee data, according to Straz (2015), facilitates enhanced decision making reinforced by better structural insights, retention rates, training initiatives, and hiring processes.
Organizations with HR departments already utilizing analytics as a tool to plan, develop, and retain their workforce, are already one step ahead of the game. If your organization has not considered how HR Analytics could help your company leverage talent and implement strategies supported by Big Data, the EDC team has some good news for you: It’s not too late to start and we can help!
EDC has seasoned consultants who specialize in Big Data applications, workforce analytics, and HR practices. Our specialists are committed to optimizing organizational performance and managing talent. Let us show you the value in HR Analytics and help you reap the benefits of investing in your workforce by using the rich information provided by Big Data.
Bersin, J. (2013, October 7). Big data in human resources: A world of haves and have-nots. Retrieved from https://www.forbes.com/sites/joshbersin/2013/10/07/big-data-in-human-resources-a-world-of-haves-and-have-nots/#402b80c4200f
Oracle. (2011, September). HR analytics: Driving return on human capital investment [PDF document]. Retrieved from www.oracle.com/us/solutions/ent-performance-bi/045039.pdf
Straz, M. (2015, April 6). Why you need to embrace the big data trend in HR. Retrieved from https://www.entrepreneur.com/article/244326
Learntek. (2017). Importance of Big Data Analytics. Retrieved from http://www.learntek.org/importance-of-big-data-analytics/