What you need to know about Human Resources and Data Analytics
Businesses are currently bombarded with massive influx of data that allows them to identify, explore and grab profitable opportunities in growing their investments. Big data management and analytics pushed at least 60% of firms to integrate the same to boost their profit earning opportunity. With the success of using big data and analytics, companies that have not yet embraced big data into their marketing strategies are gradually taking the steps of getting ready for the big change.
Small to large business enterprises are able to appreciate the big leap to success in improving their marketing strategies using data analytics. They are able to extract valuable information from their customers that help them improve their products and services, while making their business more responsive to the changing demands of their customers at the same time. As business firms are getting more inclined to focus their resources on improving their big data systems, however, they failed to consider just how their human resources are ready to embrace the big data era.
Is your human resource ready for big data?
Many companies are getting more data driven in terms of revolutionizing their marketing strategies. The International Business Machines (IBM) reported that about 90% of the data collected worldwide were obtained only in the past two years. This was the time when the big data explosion began and wide range of insights, information, and trend casting became available for companies to analyze and integrate in their marketing strategies. Just when the influx of data continuously flow to become available to companies, the human resource department of firms continues to struggle to keep up.
Companies always consider the human resource (HR) as the structural framework of their organization. Every department becomes highly operational and productive because of the manpower of the organization. With the big data exposure, business firms need to invest in improving the skills and competence of their manpower in making their staff big data ready.
Company’s investment in HR and big data technology
With the surge of tremendous data that companies need to interpret, manage and analyze, data analysts are needed to help expedite the process of data interpretation and bringing them into action. In fact, companies need to reorganize their staff in order to include competent employees who can help them maximize the use of big data when searching for business opportunities. IT staff of a company becomes a valuable commodity these days, especially when there is a great demand for business firms to employ highly skilled data specialists for predictive business analytics.
According to big data experts, the introduction of big data posed quite a big challenge among companies to employ not only advanced big data IT tools, but also highly qualified talent pool that can easily connect with the big data trend. Marketers should be able to invest in hiring quality staff and big data technology to advance their roadmap to success.
Among the benefits of combining a company’s resources of talented IT staff and big data technology include the following:
- More expedient process of data management and analytics
- Accurate extraction of targeted metrics that meet the specific needs of the company
- Speed in the data implementation and gathering
- Data driven decision making for better major marketing strategy directions
- Access to valuable information using a wide range of metrics and data sources
- Cost effective marketing tactics
- Speed in business responsiveness to the industry needs
Companies need to hire employees who are not only competent, but also committed to upholding data confidentiality. Big data can reveal vital information about customers, which requires companies to become more mindful in terms of data security and privacy. Both the HR department and the big data technology are required to maintain data security and safety to maintain the integrity of the company.
HR friendly big data technology
Introducing more HR friendly technology will help your organization improve the flow of its operation. Online marketers and big data experts recommend the integration of HR technology that can improve the performance of your analytics team with better efficiency.
1. Cloud based big data analytics
More companies favor the use of a cloud based data management system. It is more cost effective as compared to the other big data software. Popular is the cloud based SaaS system, which is an on-premise technology that allows employees to share data easily for a more efficient coordination and real time decision making process.
2. Social collaboration tools
Bigger companies invest in social collaboration tools in order to enhance the process of coordinating various teams in the IT department. As data influx is quite fast, the demand in the exchange of communication among the IT staff is high. Collaboration tools provide an internet based workspace for your workforce to coordinate decisions and information rather quickly.
3. Robust analytic tools
These tools help data analysts to extract more specific information that they need based on your marketing needs. The data collection is more precise and can be easily integrated for analytics and data reporting.
Investing in talent analytics
Companies that are integrating data analytics in their organization realize by now that while it is crucial to use analytic tools when embracing the big data era, investing in talent analytics is just as important. While the big data analytics software is capable of capturing millions of data every day, defining marketing strategies still require a sound judgment. This is a quality that machines do not possess. Companies need a team of employees with multi-disciplinary skills, mostly with the ability to analyze and interpret statistics and complex data with meaningful significance for your business.
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