Article by Annabella Poon
on 7 Apr 2014
Undeniably, ‘Big Data’ has taken the business world by storm. With the emergence of Cloud Infrastructure and Technologies, end-users of these systems are now able to obtain, generate and visualise data in ways that historically, we weren’t able to achieve.
Just as Big Data has transformed finance and marketing, the same will happen to HR in 2014. Adopting a data-driven approach will become top priority for HR leaders wanting to leverage on Talent Analytics, using it to derive insights from employee management to hiring strategies - essentially transforming how many businesses work.
To begin with, HR departments already possess valuable data within organisations – Human Capital information. HR departments have also long been investing in technology capable of storing and accessing employee data. So it seems like ‘HR’ and ‘Big Data’ is a match made in heaven.
But with all these hype around HR Big Data, it begs the question: Who actually consumes HR Big Data? & How exactly does HR want to access this “Big” data?
According to a study by HRBoss, The Asia HR Big Data Survey Whitepaper Report revealed that the demand for employee-related data comes from the very top, with CEO & CHROs named as the primary end-users of HR reports.
This is expected as business leaders depend on facts and figures when making important decisions for their department. Big Data will allow HR leaders to hypothesise, solve problems and carry out complex predictive analytics related to Human Resources.
The survey report also highlights a new trend amongst C-suite executives: The appetite for data-driven HR reporting is growing. Management is increasingly demanding in-depth and detailed employee data reports.
HR is seeing leadership shift towards wanting data-driven analysis of the workforce- but human resource professionals across the region are spending a disproportionate amount of time locked into demanding, yet inefficient, reporting cycles.
How can they meet this demand without more sophisticated reporting tools and processes?
Furthermore, when it comes to accessing data, report end-users want to access the data on-the-fly, in a single dashboard. Yet, 91% are operating without one.
According to the report, 85 % of end-users want reports delivered via real-time dashboards or mobile….but only 9% currently receive HR reports this way. HR executives are stuck in excel hell, email, powerpoint and paper.
The survey reveals 2 defining characteristics of the Asia-based HR professional’s daily life: they recognize the importance of data but they cannot access it as easily as they need to.
Big Data offers a golden opportunity for HR but if HR leaders are not getting the data how they want it and they can’t ‘consume’ data, how will HR be able to unearth the insights buried deep within the often-unstructured HR data?
HR needs to evolve their reporting processes to keep up in 2014 by leveraging on the right data analytical tools especially if they aim to offer strategic value to their business and take their seat in the Boardroom.