In human resources, they often repeat that people are the most valuable asset of the organization.
According to Accenture, the total cost of human capital accounts for up to seventy percent of all business expenses.
Since organizations want to manage this rather expensive asset in the best way possible, they are asking to be able to lean on data in order to make these important decisions for optimization.
This request translates into the need to eliminate the conjectures of the talent management cycle and apply analytics to every key process of the HR department: recruitment, training, performance analysis, labor climate, compensation, and loyalty.
Companies Are Looking for HR Professionals
who Know about Data.
There is a great opportunity for everyone in human resources: The best
companies are desperately looking for people who know how to
interpret data, and turn it into improvements.
In the area of management positions, a study of the Intelligence Unit
of The Economist, in collaboration with PwC, stated that:
”seventy-two percent of managers believe that familiarity with
data-based decision-making is an essential requirement for access
to management positions.”
Ref: People Analytics - Data and Text Analytics for Human Resources - Eduardo Valencia. Data Analytics Manager - Analytics to Grow.