Analytics Trends For Business Success

As big data becomes a pervasive resource and tool, HR is evolving into a data-driven function, with the focus shifting from simply reporting data to enabling the business to make informed talent decisions, predict employee performance, and conduct advanced workforce planning. People analytics is an emerging and fast-evolving technology. This HR analytics trend indicates there’s a first-mover advantage available to forward-thinking HR leaders, They will be among the first to deliver more engaging, analytics-powered HR offerings, such as one-stop employee platforms, which will improve and differentiate the employee experience. The insights generated by people analytics can be applied to every HR activity,  In addition, people analytics will likely be used to enhance the output and efficiency of a variety of HR processes improving job offer acceptance rates, reducing HR help tickets, and optimizing compensation. HR organizations that adopt people analytics will change the nature of the relationship with their internal stakeholders and business counterparts. If, for example, a company’s leadership team is concerned about lagging revenues in one area of its business possibly caused by extended time to market, during the holiday season, HR can use people analytics analyzing time spent, movements, performance, payroll, Many companies have made significant investments in HR technologies to manage their day-today transactions but just a small number of companies use these aggregated terabytes of valuable data to make meaningful data-driven decisions. However, the situation is changing and a growing number of executive teams are adopting advanced analytical techniques. As part of a broad workforce planning strategy, analytics can be instrumental in creating a more fact-based approach to solving complex workforce issue. In Deloitte, we believe that being a step ahead and successfully leveraging analytics and big data is essential for organisations seeking to enhance HR’s role in business decision-making and outperform their peers in executing their talent strategies. Benefits of HR analytics : Uncovering the hidden drivers of retention, Understanding the characteristics of high performers and predicting the risk of their leaving, Prediction of workforce demand, Prediction of employee success and tenure, Understanding the impact of pay increases in detail to make more scientific decisions about where to invest to maximise performance, The function of people analytics, which involves using digital tools and data to measure, report, and understand employee performance, is going through a major shift. No longer is analytics about finding interesting information and flagging it for managers: It is now becoming a business function focused on using data to understand every part of a business operation, and embedding analytics into real-time apps and the way work its begin.

Reference: https://www2.deloitte.com/us/en/insights/focus/human-capital-trends/2017/peopleanalytics-in-hr.html# , https://www2.deloitte.com/ce/en/pages/deloitteanalytics/solutions/hr-analytics.html , https://www2.deloitte.com/us/en/pages/humancapital/articles/hr-analytics-trends-for-business-success.html .

Dr. Maria Grace Herlina S.Sos.,MM. & Airin Febriyanti