The HR analytics that has helped HR learners extract information from a pool of data for better business decisions has evolved a lot over the years. However, even after all these new technologies and methods, the limitation of attaining actionable insights still stands. Most organizations are not able to fully utilize the huge amounts of data they collect.
However, a new field called augmented analytics is now paving its way to the front. The technology allows HR leaders to utilize the power of AI to traverse through various datasets and identify important metrics. Then, the natural language processing language is used to communicate results in an understandable manner.
How Does It Work?
Normally, when you need to find out the rate of new hires leaving the company, you would have to analyze a lot of data and then come to a conclusion which would not be as accurate. On the contrary, the augmented analytics tool will tell you that your rate of new hires leaving has increased due to opportunities for a flexible working environment.
If you ask about the performance of new hires, the tool will give you numbers like – of the 60 hired in the last quarter, 10 are high-performing.
The challenge that augmented analytics solve is drawing actionable insights. Every organization knows how to use analytics and number of metrics shown across the dashboard. But, augmented analytics realize these metrics into actionable information such as above.
Why Augmented Analytics?
With augmented analytics, it easier to automatically traverse through various stages of data processing. From collecting data, cleaning, and analyzing it for actionable information, everything can be achieved with augmented analytics.
For a small organization, with a smaller number of employees, it is still easier to analyze all the data available. But, as the number of people increases in the company, so does the responsibility of handling this data. It becomes complicated by the day, and eventually, either company adopt technologies such as augmented analytics or rely on guesswork.
HR analytics is already a major part of our working today. With augmented analytics to make it better and hassle-free, you can focus more on retaining employees and keeping them happy. Further, it is known that augmented analytics can work even with minimal supervision from a data scientist. So, many of your HR team members would be able to at least understand data to some extent and carry out some basic functions.