Data such as cost-per-hire are interesting but relatively useless until converted to information.
Information is data presented in a form that makes it useful for making decisions.
Analytics improves performance. For example, a talent analytics team at Google analyzed data on employee backgrounds, capabilities, and performance. The team was able to identify the factors (such as an employee feeling underutilized) likely to lead to the employee leaving. In a similar project, Google analyzed data on things like employee survey feedback to identify the attributes of successful Google managers. Microsoft identified correlations among the schools and companies that the employees arrived from and the employees’ subsequent performance. This enabled Microsoft to improve its recruitment and selection practices.
Employers are using talent analytics to answer six types of talent management questions:
Human capital facts.
Analytical HR.
Human capital investment analysis.
Workforce forecasts.
Talent value model.
Talent supply chain.