I totally agree with ‘small data that really matters’. More consideration is sometimes needed to what HR actually wants to analyse or extract and how it will add business value. Big data is not valuable if it takes more time in production than it does in analysis, discussion and action.
Natalie Dumbrill, HR professional
What is needed from ‘big data’ is actionable business insights. The data, on its own, has little value. What is valuable is the analytical outputs segmented by age, gender, location, salary, profession, and so on. What becomes more valuable is the ability to correlate the data with business metrics to see what benefit products aid retention, support learning and development, and reduce workplace absence. ?
To go a step further, we can use the analytical outputs from the data to predict future needs and behaviours. We can test changes in marginal pricing and engage in ‘nudge’ behaviour by using A/B experiments with our benefits offering. ?
Google has been running this type of analysis for years and it is no coincidence that it is voted best place to work year after year, not to mention being incredibly successful in a highly competitive marketplace.
Ian Davidson, reward consultant