By Nick Lambe – Managing Director, Links International
I recently read an article regarding Big Data Analytics which discussed how human insight is essential to the process of managing change.
This article discussed how there is a massive emphasis on data analytics across the globe and it is estimated that global firms are currently investing over US$5m, even though only 12% of these global companies describe themselves as leading the way in analytics.
With access to all of this data, yet without a human element, many firms are struggling to find the value in it and are identifying that, in order to truly create value from the data, it is essential to review, analyse and, most importantly, act on the findings of this data.
HR is a field that has access to vast amounts of employee and company data from trends in hiring, firing, employee engagement, leave, performance reviews and so on, but very few firms are able to harness this information and, more importantly, act on this data to disrupt and transform the organisation and HR function within it.
Business leaders who are looking to leverage Big Data analytics often forget one key component to this data: people analytics. People analytics can tell a lot about employees and business efficiency as a whole, yet rarely does this data extend any further than the HR circle. As a result, key data that could be used in business strategies does not make it to the right people, and therefore business leaders are missing out on vital data that could help shape and grow their organisations.
With this in mind, more and more firms will be investing in HR tools to enable them to analyse this crucial data. Yet the question is: what is the point without the human analysis and decision making behind it? Will this therefore drive a new breed of Business/Data Analysts within HR who will be responsible for deriving the value from this information and managing change within the organisation to ensure that they are acting on the data?
What are your views on the subject?
Links International is a leader in HR outsourcing and solutions in Asia. To speak to us about how you can get the most out of your HR data to elevate your role and grow your business, please get in touch.