Visualization for Talent Analytics, an Introduction
Under the domain of talent analytics, Human Resource Data Visualization is the application of considerable data mining and business analytics techniques to human resources data. The goal of human resources analytics is to “provide an organization with insights for effectively managing employees so that business goals can be reached quickly and efficiently”. However, the challenge remains to actively identify what data should be captured and how to use the data to model and predict capabilities so that the organization gets an optimal return on investment on its human capital”.
Many organizations today are looking for metrics or analytics in HR which are not just people oriented but also provides insights on processes such as recruitment, retention, compensation, succession planning, benefits, training & development, performance and appraisal and many others. As a part of HR, enough data on employee’s personal information, compensation, benefits, retirements, attrition, performance, succession are collected. Therefore, it becomes a dire need to utilize those data in order to interpret the outcome and spots the trends.
Typical benefits and use cases of analytics in HR are as follows:
- Improve organizational performance through high quality talent related decisions
- Forecast workforce requirements and utilization for improved business performance.
- Optimization of talents through development and planning.
- Identify the primary reasons for attrition and identify high-value employees for leaving.
- Provide the source of competitive platform for the organizations
- Manages applicants in better way on basis of qualification for a specific position.
- Recognize the factors which turn the employee satisfaction and productivity.
- To determine the individual’s KPIs on the business.
- Enabling HR to demonstrate its benefaction to achieving corporate goals.
Apart from these HR department also delves into Talent analytics and Workforce Analytics and Planning. Data visualization provides a detailed overview over these and enable the department to consider what‘s possibly the best for them.
Data Visualization brings in much more for the HR executives. Just like Jerry Pellizzon chief financial officer at Ceradyne Inc, said, “With data visualization, your mind doesn’t have to recalculate numbers into intelligence. Instead, it can analyze the data right away. You don’t have to go do extra work. Hence most people prefer that.”
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