Data Will Replace Human Interaction
False. That’s not the purpose of analytics. Analytics are meant to provide solid numbers in order to substantiate organizational leadership’s gut-instinct business decisions. The virtual information proves to be inextricably linked to the increased data necessary for candidate selection, but that doesn’t eliminate the opinion of the hiring manager or the recruiter. Gut instincts serve as a foundation to talent and business decisions, only to be augmented by data.
Analytics simply contribute to effective decision-making. Rich Cooper, Vice President of Research and Emerging Issues at the U.S. Chamber of Commerce Foundation, said:
“Being a good leader is about making good decisions. In every setting, leaders must use a mix of reliable information and experience to decide the best course of action. The growing saturation of data-generating technologies does contribute to an ocean of information that, when analyzed, can reveal new connections, trends and opportunities. Yet, no matter how good our data or ability to analyze it becomes, it will never replace the human mind. In the end, it will always be a person with a heartbeat (not an algorithm) that makes a decision.”
Predictive Analytics, Well... Predict
Analytics don’t really predict the future, they merely suggest what is likely to happen. Take predictive talent analytics for example. Your boss wants to know if the team can feasibly handle client and branch growth, so he needs the numbers to support his desire for growth. Well, with predictive talent analytics, organizations have the information they need in order to address growth initiatives. Simply stated, if the company doesn’t have the manpower for growth, productivity and quality are likely to suffer.
Give organizational leadership the data they need to determine if the team can handle more work before growth happens. They need actionable data insights, and that’s exactly what predictive analytics - what BDAS - provides. Business leaders have become more comfortable with the idea of predictive analytics as 73% of organizations plan to invest in big data within the next 2 years.
Analytics re the Precursor to Datafication
There’s a learning curve on the journey towards understanding data. You have to walk before you run, right? Well, the same concept applies here. Organizations have to start small and learn what analytics are relevant to them as they develop along their recruiting analytics maturity model. Only then can company leadership stem from operational reporting to a platform that facilitates strategic and predictive data.
It’s crucial to be ready to invest in big data, not simply because it’s the hottest trend in recruiting. Out of the near 8 in 10 organizations that have begun the journey towards big data, only 27% say their efforts thus far have been successful. Take note of what you need out of analytics and the experience of your team before the company invests in a big data platform.
Organizational leadership may have some predetermined misconceptions of big data and what it could do for the company. Whether they are apprehensive because they feel data will overtake the need for human interaction, or the idea that analytics can happen before the organization experiments with datafication, you have the tools to explain the augmenting nature of analytics. You are the one on the front lines; it’s your responsibility to explain the need and the benefit of big data for your organization.
That’s what Broadbean is here for. Give us a call, and we can help you determine what you need out of your recruiting analytics.