Creating a Culture of Insight
Creating a culture of insight
Talent Analytics is one of the biggest trends in today’s HR. The need to understand your employees and what drives their performance is critical for companies to be successful. With the term Talent Analytics, you are focused on not only ensuring that you are capturing accurate and timely data across the entire HR function but more about how you use this data to gain insight into your strategy and deliver actionable insights to those executing it.
Understand today: Analytics has the potential to give us a comprehensive and complete snap-shot of where your strategy stands today. It helps you understand what you do well and just as important do poorly. And thereby take action to improve today.
Improve for tomorrow: Start seeing the picture of the future so you can begin planning for important trends you see in the data.
Go as deep as we need: If you are really using analytics correctly, we don’t learn just one or two insights from the data but 100’s of insights into different scenarios and circumstances.
Test assumptions: Not every initiative or strategy you employ will work. However, it’s only through having data and analytics that you can quickly determine the success or failure of new initiatives. Understanding this early helps you make the best use of your resources.
UNLEASHING THE VALUE OF DATA
To fully unleash the value from their data, organizations need to evolve to an analytics-driven culture — a culture that trusts and uses its data and analytics insights to drive strategic decision making, has transparency in its decisions, puts analytics in the hands of its end users, and encourages a curious mindset.
Once you have the data captured, you need to find a way to make it readily available and consumable. Finally, big data is just a bunch of numbers and data points until you begin to analyze it and make it useful to make decisions. However, the only way to do this successfully is having the data on a platform that easily enables you full access in an intuitive and easy to use interface.
It’s important that the correct people have access and can slice and dice the data to get real insights. And the key here is that whatever solutions we have, shouldn’t expect your team members to be data scientists to get value out of. It should be intuitive enough, so intelligent team members, senior leadership and others can have access to truly leverage this data to do their jobs better.
Data, like any resource, exists only as potential unless it can be tapped. Organizations that can best capture the value in their data and use it in decision making will be the ones that thrive. With the explosion of data, a growing number of organizations are seeking to take full advantage of analytics to drive decision making. They are poised to take analytics to an even higher level by using the new wealth of data to predict what will happen in the future.
Data in itself is not an advantage, although it is a nice first step. It is about making the data consumable and actionable, therein lies the uniqueness and the value.