We live in a time of exponential technology growth: There is 900% more data being generated and flowing through businesses than there was two years ago.1 Opportunities to harvest data (including your personal data) are everywhere. But with these opportunities comes risk, as many organizations struggle to balance data access and impact with security, privacy, and ethics.
Ideally, data is managed securely and ethically with organizations using data insights to help improve results and with workers using the insights to manage their productivity, well-being, performance, and career development. However, when data is not protected or is misused, this may negatively impact privacy, infringe on people’s personal identity, lead to misguided decisions, and damage the company’s brand.
THE POTENTIAL FOR IMPACT
84% of organizations think that people analytics are a priority for their business2 and 72% have acted on this priority by investing in analytics’ resources, technologies, trainings, or other related areas.3
People analytics can be used for a wide array of positive impacts. Candidate selection analytics can be used to define initial job fit and development plans. Predictive analytics can spot retention risks and correlated factors to plan interventions. Matching analytics can be used to connect workers and their skills/ interests to best fit internal opportunities. Organizational network analytics can visualize relationships and information flow to identify natural teaming and collaboration opportunities or show new hires who to connect with to get productive faster.4 Workforce planning analytics can determine future resource needs based on demand signals. Even future-of-work analytics can be applied to understand how automation and the open-talent economy will likely impact individual roles.5 The list of potential applications goes on.
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