The use of HR analytics in medium sized and large sized organizations has become common. Companies are hiring analysts for various HR positions. A certification from top business analytics courses can improve your understanding of how HR Analytics and employee experience management tools work.
We have come a long way in the business intelligence and analytics industry. Gone are the days when BI tools would be a staple in business analysis and finance management teams. Today, thanks to the massive drive within organizations to embrace digital transformation, business analytics platforms have become a core component of Marketing, Sales, Accounts, and Content management teams. Yet, one area in the business remains a slow adoption center -- it’s the HR group. With the advent of AI ML and automation, we are seeing a rampant adoption of HR technology platforms, and in these, we find ourselves working with various business analytics dashboards and reporting tools.
How Data Analytics in HR Works?
HR analytics is used in many ways within the enterprise.
The popular HR dashboards and reporting tools include platforms for these processes:
• Hiring trends
• HR budgeting trends
• Applicant tracking metrics
• Recruitment and Interview engagement
• Employee compensation and payroll management
• Salary comparison
• Leave trackers
• Conflict resolution between managers, employees, and contractors
• HR responsiveness
• Employee attrition versus retention trackers
Companies like LinkedIn, Monster.com, Indeed, Naukri, and so on, are using various HR business analytics tools to showcase the impact of their data science capabilities on the revenue generation methods. According to a recent report from Deloitte, companies that have a strong HR analytics dashboard tend to make smarter and faster decisions in their other business operations, such as executive hiring, marketing intelligence, and competition analysis. In fact, a very popular project in the current business analytic courses includes ‘Hiring trends in the company compared to the competitors’.
What kind of Data would I work with within HR BI Platforms?
Organizations using HR analytics tools have their own first party data lakes to build data visualization. It could mean working with existing alumni and current employee data, which could include generic fields like;
• Name of the employee
• Mobile / contact number
• Previous experience
• Ongoing project training
• Manager’s name
• Leaves versus absence data
Having a bird’s eye view of this HR data can help organizations solve complex business challenges, including the ones that arrive with the hiring of a Line Manager, opening offices in the new locations, and appraisals. When companies rely on their in-house data, it becomes easier for HR managers to trust and rely on HR processes created around Big Data and automation techniques.
If you are planning to pursue a business analytics course, it’s a great time to learn more about HR analytics with AI ML specialization. It could become the elementary foundation for your advancement in your career as a business analyst.
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