There has been quite a bit written recently about big data and the power of analytics. This label, “big data,” scares many in our field and leaves others perplexed. How do you take all of this data floating around and make strategic human capital decisions? Don’t be afraid of it and remember that data is at the very core of your understanding of how your human capital investments are performing and how to improve them.
I have been the CEO of Capital Analytics for nine years. In my time as the CEO, I have seen a significant growth of interest in human capital analytics and the use of big data. This blog series will explore various aspects of big data and its use throughout the continuum of human capital analytics. In the next few weeks we will discuss different types of data, such as anecdotes and surveys, dashboards and benchmarks, descriptive statistics and advanced analytics that make use of your organization’s big data. The goal is to simplify your thinking about this topic and show you the usefulness of leveraging this information and turning it into knowledge.
I hope this blog inspires you to apply the same tools used to evaluate and improve finance, marketing and operations investments with the same rigor to human capital investments. I also hope to show you, HR practitioners, that the lessons learned in this blog series and lots of hard work will result in you achieving significant improvement in the deployment of human capital investments, and ultimately drive organizational strategic goals.
Check back next week for our continued discussion on big data. Please feel free to comment below with any of your thoughts on big data and what you’d like to see us discuss in the next few weeks.