History of Analytics

Analytics
What it is and why it matters?
Analytics uses data and math to answer business questions, discover relationships, predict
unknown outcomes and automate decisions. This diverse field of computer science is used to
find meaningful patterns in data and uncover new knowledge based on applied mathematics,
statistics, predictive modeling and machine learning techniques.
History of Analytics
In the past, data storage and processing speed limited analytics. Today, those limitations no
longer apply, opening the door to more complex machine learning and deep learning algorithms
that can handle large amounts of data in multiple passes.
As a result, the standard descriptive, prescriptive and predictive capabilities of analytics have
been augmented with learning and automation, ushering in the artificial intelligence era.
This means we’ve gone from asking what happened and what should happen to asking our
machines to automate and learn on their own from data – and even tell us what questions to ask.
Today most organizations treat analytics as a strategic asset, and analytics is central to many
functional roles and skills.
One growing field of analytics powered by machine learning is natural language processing.
Computers use NLP to interpret speech and text. Chatbots use NLP to answer customer service
questions or offer investment advice in online chat windows. They can also offer scripted
suggestions to live call center employees.
Machine learning and artificial intelligence have also brought us useful applications like self-
driving cars and recommendation engines, which promise to taxi us around while we binge
watch the next recommended TV series based on our tastes.
Of course, analytics shapes more than our leisure time. With faster and more powerful
computers, opportunity abounds for the use of analytics and artificial intelligence. Whether it’s
determining credit risk, developing new medicines, finding more efficient ways to deliver
products and services, preventing fraud, uncovering cyberthreats or retaining the most valuable
customers, analytics can help you understand what drives your organization’s success – and how
it matters to the world around it.
What Is the Role of an HR Analyst?
Human resource analysts collect and study information related to jobs, issues and costs that
affect their companies. Many HR analysts use human resource information system programs.
HRIS is a computer software package that helps these professionals manage their data more
efficiently and accurately. HR analysts are usually required to have bachelor's degrees in
business or human resources. Required skills include analytical, communication and
organizational abilities. They have several key roles in a small organization.
Compiling Salary Information

Some HR analysts gather statistics on salaries for specific job titles. They then work with HR
managers in setting salary ranges for open positions. Others may be more specialized in
selecting, interviewing and hiring new employees. They may analyze which, if any, personality
or skills tests are needed to better select candidates.
Analysts may also obtain information for establishing company policies and procedures. For
example, an HR analyst specializing in compensation and benefits may ensure that their
company policies conform with certain labor laws, according to State Government.
Collecting Employee Data

Small-company HR analysts may be involved in improving employee training programs or
determining their job satisfaction. They may conduct surveys to gain such information.
Analysts can then analyze the data and recommend ways for company managers to improve
employee relations, job satisfaction and morale.
Some HR analysts may assess which training programs work best for developing employee
skills. They may also analyze the reasons employees leave the company and use the
information to increase employee retention.
Maximizing Human Resources Efficiency

Many HR analysts work with human resource managers and directors in creating department
budgets. During this process, the HR analyst may ensure that certain job responsibilities are
allocated to the appropriate employees. This helps ensure maximum output and efficiency.
These professionals may also determine which evaluation tools are most effective in improving
performance.
For example, an HR analyst may determine that a "360 evaluation" system works best, which
includes self-assessments from employees, interviews with peers and supervisory evaluations
for more comprehensive reviews. The supervisor can then recommend various action plans to
improve skills in which employees are weak.
Human Resources Considerations

HR analysts in small companies may determine which medical and retirement plans work best
for their organizations. They may invite benefit and retirement planning specialists to meet
with employees. They may then analyze various plans, selecting the ones that keep medical
costs down and maximize returns for employees. An HR analyst may also ask employees
which medical and retirement plans work best for them, combining their assessments with
employee preferences before deciding on a plan.
What is HR Analytics?
HR analytics is the process of collecting and analyzing Human Resource (HR) data in order to improve an
organization’s workforce performance. The process can also be referred to as talent analytics, people
analytics, or even workforce analytics.

History of Analytics

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History of Analytics

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Analytics

What it is and why it matters?

What Is the Role of an HR Analyst?

Compiling Salary Information

Collecting Employee Data

Maximizing Human Resources Efficiency

Human Resources Considerations

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