For quite some time, the technological landscape has been sprinkled with the term ‘Big Data’. Throughout the year 2012, it had been a technological buzzword and the coming year would see new applications of Big Data. Among such futuristic visions of business, is the use of Big Data analytics in making HR decisions.
The current workforce situation is critical owing to ever-present environment of global recession and imbalanced talent. More and more companies are considering the inclusion of HR analytics into the core decision making processes. However, with every change in methodology, there has to be a complementary leap in technology. As far as HR is concerned, talent analytics and employee performance predictions from big data are probably the nearest candidates which would complement HR in the future.
Companies store a substantial amount of data regarding their employees. The impediment is the lack of proper analytic tools for analysis of large volumes of data. Analysing data can deliver wondrous results, and there are too many examples where data analytics have achieved unimaginable feats.
To expand the role of big data in HR, companies have to understand as to why they are collecting the data. The primary objective of data analysis is to develop predictive prowess and pattern recognition. Big data analytics, when considered at the enterprise level, enables one to recognize emergent patterns in workforce dynamics.
This change in HR tactics is further fuelled by companies changing their core activities to the Cloud. Having the data consolidated on Cloud makes it easier to integrate analytics tools. It circumvents data redundancies and inconsistencies, delivering more accurate results. Moreover, pulling high volume data from various sources is easier when you have most of your business on the Cloud. Having back-end support from Cloud vendors like Ramco systems, makes the process even more fluid.
With progressing technology, the barriers in implementation of big data would weaken. In a world where every dimension of business is a race, talent acquisition is no different. That being said, implementing big data analytics in HR decisions would give companies a competitive edge in spotting talent. If you understand the subtleties of talent supply and intricacies of scrutiny and retention, adopting Big Data for HR wouldn’t be a surprise.