Big data HR Analytics
Big data HR Analytics plays a crucial role in the decision making.
Today’s HR transformation doesn’t just happen with the automation of HR processes and services. It happens when an organization goes beyond automation and starts focusing on business challenges, business drivers, and measures that impact business results.
Through digital transformation, HR addresses business challenges and helps spur organizational growth.
Better business insights help to realize better decisions and enable HR to act decisively. To achieve digital transformation, HR needs to do new things in new ways. This is where fact-based insights, derived out of HR data, enterprise data, Big Data, IoT, and beyond helps.
Here, we must mention the fact that HR, historically, has very rarely used insights and facts as the basis for their decision-making process. This is even more prevalent in the Small and Medium Business (SMB) than Large Enterprise Business (LE).
Why is the use of HR analytics within SMB organizations lower than Large Enterprise?
SMB organizations often have disjoint systems and multiple data sources. They rely on Excel as a common tool for tracking information and lack the funding and resources to develop a business case for HR analytics.
Although the Large Enterprise companies face similar problems, in those organizations, HR can mostly piggyback on their broader enterprise analytics strategy. They utilize common funding, systems, tools, and workforce to build HR specific analytics.
Ironically, HR needs analytics and insights to remove some of the barriers that they face to get HR analytics in the first place.
What benefits can SMB organizations gain by using analytics for their decision-making process?
With limited resources and funding, SMB organizations cannot afford to make business decisions that are based on “gut feel” instead of solid “data.” This becomes critical.
For SMB organizations, it is essential that they can address the following questions for their organizations:
- How timely, cost-effective, and efficient are your hiring practices?
- How can we retain our best and most valuable employees?
- How productive is our workforce in terms of overall revenue?
- Do we have the right competencies now and for the future?
- How competitive is our compensation strategy?
- How can we best invest in people to fulfill our future needs?
If you can address the above questions in an effective, efficient, and affordable manner, then you save time, minimize manual effort, and get insights that are based on hard data. The insights that you get out of answering these questions help you to develop and execute your digital HR transformation strategies to advance the entire organization.
What tools are available for SMB customers
Before we talk about technology and which HR analytics solution to be considered and why let us first identify the essential components. The first step is to recognize the components that make an HR analytics package functional and effective for SMB organizations.
Any HR analytics solution should have the following capabilities, divided into three categories, according to priority:
Must have
- Features to build KPIs/measures to check the effectiveness of your HR function
- Pre-built connectors not only for your HRIS solution but also for your ERP solution
- Capability to have flexible data storage functionalities for your historical data
Should have
- Analytical capabilities to analyze the market trends in various key talent and core HR areas
- Ability to build predictive scenarios based on available data for developing future strategies, e.g., employee flight risk, retention planning, etc.
Nice to have
- Ability to do business planning, e.g., salary planning, manpower planning, etc.
- Ability to add open source tools like R Visualizations and others
- Investment opportunities to judiciously invest your hard-earned dollars (Out-of-the-box analytics can kick start your HR Analytics journey, allowing you to use that as a platform for HR analytics based on organizational challenges)
We at Renew HR have selected SAP Analytics Cloud as our go-to solution for all our customers’ HR Analytics needs, primarily because of the following factors:
- All SAP SuccessFactors reporting is gradually transitioning to better leverage SAP Analytics Cloud technology. This means that you would be future-proofing your solution when you build your advanced HR analytics in SAP Analytics Cloud.
- If you are an SAP HCM or SAP SuccessFactors customer, then you will have pre-built out-of-the-box connectors available free of cost for you.
- SAP Analytics cloud can have pre-built connectors with any SAP cloud-based application like SAP SuccessFactors.
- It can do business intelligence, predictive analysis, and business planning in one place.
- It is cloud-based and mobile.
- SAP Analytics cloud allows integration/interface with R.
- It is a highly affordable solution based on a per-user, per-month basis rather than the total number of employees of the organization. You buy as many or as little user licenses needed.
SAP Analytics Cloud (SAC)
SAP Analytics Cloud can access data from across SAP’s cloud solutions, including HR (SAP HCM and SAP SuccessFactors), finance, and other applications and data repositories.
SAP Analytics Cloud can be the single source of truth about a company’s most important business and people metrics. You can use it to monitor, simulate, and drive change in the digital economy, something standalone data discovery or HR analytics solutions cannot accomplish.
Meaningful insights, better decisions, and immediate action come together in SAP Analytics Cloud, which brings all types of data to life across people, places, and devices, into a real-time enterprise experience for HR executives.
With fully automated business intelligence capabilities that dramatically improve the quality and speed of reporting, as well as collaboration in real-time, executives and leaders can instantly drill into key areas of the business. These include revenues, pipeline, margin, people, and model business drivers on the fly, all used to anticipate the future.
SAP App Center
SHARP HR Analytics Packages is now available on the SAP App Center. Clients visiting the SAP App Center can find:
SHARP HR Analytics – Package 1:
Transforming your Existing Reports can help take advantage of existing reports and get some visualization and insights into the decision-making process.
SHARP HR Analytics – Package 2:
Data Archival, Compliance and Historical Data Analysis can help businesses move out of legacy systems (SAP HR, Workday, PeopleSoft, ADP, Ceridian, UltiPro, etc.) and not worry about data archival, the ability to run analytics on legacy data and be compliant with the state, federal and international laws.
SHARP HR Analytics – Package 3:
Core HR and Compliance can help extract insights through KPIs/measures by using transnational data covering payroll, HRIS, time and attendance, and compensation. Businesses can use predictive analysis, planning, and modeling functions in the analytics process.
SHARP HR Analytics – Package 4:
Talent Analytics can help formulate the entire Talent Management strategy involving talent acquisition, performance management, succession and development, and learning.
The SAP App Center provides customers with real-time access to nearly 1,500 innovative partner solutions that complement and extend their SAP solutions, enabling the digital transformation of their business. SAP App Center customers can buy solutions directly from partners and centrally manage purchases, billing, and vendor communications.
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[…] the business world, terms like HR Analytics, People Analytics, Talent Analytics, and Workforce Analytics are interchangeably used. But when you […]