HR Data and Analytics – What Is It and How Do We Use It?

In the everlasting battle to attract and retain the best talent in the market, it is more important than ever that companies understand their workforces and use their HR Data to drive business performance. Possessing quality HR Data enables companies to benchmark and measure workforce performance which in turn allows evidence based decision making which can, and should, influence the overall strategic direction of the business. Despite this, the Chartered Institute of Personnel Development (CIPD) report that very few businesses possess the capability to both gather and analyse HR Data and have therefore highlighted this as an emergent field that requires further investment and research. Worryingly, a global IBM survey of more than 1,700 CEOs found that 71% identified human capital as a key source of competitive advantage, yet a global study by Tata Consultancy Services showed that only 5% of big-data investments were in human resources.

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