Greta-Roberts-191x300

Deliver Business Value with Predictive Workforce Analytics

Deliver Business Value with Predictive Workforce Analytics

Today’s business executives are increasingly applying pressure to their Human Resources departments to “use predictive analytics.” But this pressure isn’t unique to Human Resources, as these same business leaders are also pressuring Sales, Customer Service, IT, Finance, and every other line-of-business leader to do something predictive or analytical.

When Human Resources focuses on predictive analytics projects, often the department would like to know things like if employee engagement predicts anything, if it can use predictive analytics to address its diversity challenges, or if it can predict a flight-risk score based on how much training or promotions an employee has received.

Though these projects have tentative ties to other lines of business, these projects are driven primarily by an HR need or curiosity. Here are some tips for conducting a successful HR predictive analytics project that impacts the business’ bottom line:

Our firm is often asked if we can “explore the data in the HR systems” to see if we can find anything useful. We recommend avoiding this approach, as it’s akin to reading Wikipedia like a book, hoping to find something useful.

Read Also:
How analytics roadmaps can break organizations from vicious data cycles

When exploring HR data – or any data – without a specific question in mind, what you’ll find are factoids that are interesting, but not necessarily actionable. You’ll pay an external consultant a lot of money to do this or have a precious internal resource do this, with no strategic impact. Avoid using the Wikipedia approach. Start with a question, not just a data set.

Like all lines of business, HR is excited to show results of its predictive analytics projects. But often, these results of an HR predictive analytics project are meaningful only to HR. The business cares about business outcomes. On this score, HR departments can learn from the marketing department, which began its predictive analytics journey before HR. When marketing was able to show that a predictive project that could identify which offers were able to increase sales, business executives took notice. Marketing stopped being “aligned with” the business; marketing was the business.

HR needs to do the same thing.

Read Also:
How Business Intelligence Software can Help you Increase Operational Efficiency

When HR begins predictive analytics projects, it needs to ask the business units what kinds of challenges they are having that might be affected by the workforce.

 



Chief Analytics Officer Spring 2017

2
May
2017
Chief Analytics Officer Spring 2017

15% off with code MP15

Read Also:
As Analytics Matures, Applications Diversify Beyond Retention

Big Data and Analytics for Healthcare Philadelphia

17
May
2017
Big Data and Analytics for Healthcare Philadelphia

$200 off with code DATA200

Read Also:
Data quality and cloud computing: What are the risks?

SMX London

23
May
2017
SMX London

10% off with code 7WDATASMX

Read Also:
Data quality and cloud computing: What are the risks?

Data Science Congress 2017

5
Jun
2017
Data Science Congress 2017

20% off with code 7wdata_DSC2017

Read Also:
Twelve types of Artificial Intelligence (AI) problems

AI Paris

6
Jun
2017
AI Paris

20% off with code AIP17-7WDATA-20

Read Also:
Mobilizing your C-suite for big-data analytics

Leave a Reply

Your email address will not be published. Required fields are marked *