Friday, 4 September 2015

What is Not Analytics?

Analytics has become most misunderstood term these days. It has become fashion to mention analytics as feature of any solution. I would like to clarify what is not analytics?

1. Analytics is not the traditional rules based system.
2. Analytics is not the traditional BI reporting.
3. Analytics is not the traditional formulae based templates. 

 Then what is analytics?

1. Analytics is to find hidden patterns.
2. Analytics is to predict events.
3. Analytics is to apply statistical techniques.

Input data to any analytics solution is mostly unstructured. The data is huge. The data arrives at comparatively high speed.

Hope you agree with me.

Thanks,
MintStat Team
www.MintStat.com

Sunday, 26 April 2015

HR Analytics - A force to reckon!!!

Welcome to MintStat blog after a long break. We will now be more regular in this aspect.

Today we want to discuss about HR Analytics. Analytics has been the buzz word in industry. How can HR be left behind from this relatively new technology phenomenon? HR dept's main function is to analyze employee related all data and activities i.e. from recruitment, onboarding, appraisals, compensation till exits.

Most of the organizations still do this analysis manually. If data is small, then it can be very well done by a small team in few days. But, what if data is huge? are there any better ways to do it?

Yes, with more and more research and tools in analytics field, one can write few algorithms with open source tools (such as R) to quickly get insights and help in quick decision making. So if you want to measure effectiveness of recruitment ads in different media channels over the years or you want to measure effectiveness of recruited candidates vs real performance, analytics can help you. The past data would be needed to create good prediction models for recruitment function alone.

Analytics can help you classify employees in different buckets based on performance and accordingly select reward and retention strategies. Based on various text inputs employee has given in company forums, text analytics can identify sentiment of employee.

Employee satisfaction surveys is big area for HR analytics as well. If your organization is interested in HR analytics, please get in touch with us.

Thanks.
MintStat Team
www.MintStat,com