We could easily be intimidated by data. Yet, we crave answers on how to make the best hires, reduce cost, drive strategy… the list goes on and on.
Many organizations now turn to predictive analytics : the ability to take what happened in the past and find common relationships and factors (leveraging human behavior and neural networks) to model and predict the future, enabling us to report back in analytics with recommendations for the future.
Finance, Sales, and Marketing departments have already realized the importance of predictive analytics. Now it’s HR’s turn to gaze into the crystal ball.
This week’s #TChat guests: Chad W. Harness , VP of Lead Human Capital Analytics Consultant at Fifth Third Bank; and Jen Phillips Kirkwood , ADP Analytics and Innovation Ambassador, shared their insights on the predictive power that HR can bring (we’re proud sponsors of the Predictive Analytics World for Workforce .)
First step? Get clear on objectives and take a close look at problems that are in need to be solved. Once we have painted a clear picture, ask yourself: How can HR help to support KPIs and find analytics that can yield real action?
https://twitter.com/JenPhillipsK/status/583412542720053248
If we don’t trust or understand the data, it’s easy to make knee-jerk hiring decisions.
By understanding key differences between data, metrics and analytics we can make better recommendations and decisions for the future.
So how do HR leaders start a predictive analytics initiative successfully?
https://twitter.com/JenPhillipsK/status/583416248815464449
https://twitter.com/humanperspectiv/status/583416514734235648
There’s no doubt that predictive analytics will have an immense role to play as we move forward. HR leaders want to get there, and frankly, they have to get there. Once we have arrived, HR will be given a stronger voice that will drive strategy and help cost reduction and retention.
Just remember, it’s not only about the data , it sometimes comes back to a curiosity and willingness to change.
See What The #TChat Community Said About The Predictive Power of HR Analytics:
[<a href=”//storify.com/TalentCulture/tchat-storify-5/embed” target=”_blank”>View the story “#TChat Storify: The Predictive Power Of HR Analytics” on Storify</a>]
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photo credit: Crystal Ball / Glaskugel via photopin (license)
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