Only 18% of companies are properly harnessing ‘big data’ to complete significant statistical analysis about their workforce, according to Forbes research. The remaining 82% are struggling to figure out how to measure and manage data effectively – so for the most part, they fail to use it at all.
Forbes reports that just 4% of companies have achieved the ability to harness big data and perform “predictive analytics” about their workforce, while 14% have at least done some significant statistical analysis of employee data.
The remaining 82% are “still dealing with data management and reporting challenges, trying to get out from under the burden of ad-hoc reports to deliver standard operational metrics”, said Josh Bersin, founder of Bersin by Deloitte.
The value of big data for HR is much more sophisticated than simply helping HR predict turnover, said Dr Peter O’Hanlon, Chief Analytics Officer, Onetest, pointing out the vast difference between companies who use data effectively, and those who don’t quite get its ability to unlock powerful productivity, culture, structure and performance strategies for HR.