Workforce Analytics Defined
Workforce analytics describes a set of tools that measure, characterize and organize sophisticated employee data. These tools are used to present detailed employee performance to provide a better understanding and assist in overall management.
HR leaders use workforce analytics in various forms, such as predictive and prescriptive analytics.
- Predictive Workforce Analytics helps managers comb through mounds data to determine which employees have the greatest potential of success with the organization. The data also predicts which employees are most likely to leave in the near future.
- Prescriptive Workforce Analytics prescribes actions HR leaders can take to help develop and retain key members of the workforce, based on data uncovered from predictive analytics.
Both are an essential part of workforce analytics and when used together, these tools can make all the difference!
Why Do Companies Invest in Workforce Analytics?
All great companies are made up of the right people in the right positions. Workforce analytics allows HR leaders to determine who the right people are, which tasks suit them best and how to ensure they remain satisfied in their roles.
Ultimate Software has designed workforce analytics tools that are easy to understand and utilize effectively.
Analytics aren’t just for statisticians anymore. A growing number of organizations are using analytics to examine and act upon data about their people in the workplace. Known as workforce analytics, these sophisticated tech tools are changing the HR game, and those companies willing and able to harness the power of Big Data for analytics are seeing great gains and meaningful advantages over their competition.
At Ultimate Software, our award-winning solution for HR, payroll, and talent management, UltiPro®, offers a range of predictive and prescriptive analytics designed to combine managers’ expertise with proven algorithms. The winning result? Knowledge without bias.
More Workforce Analytics Resources
HR’s Secret Weapon: The Power of Big Data
Big Data is more than just some buzz word. Discover Big Data’s critical role in powering workforce analytics and the difference this technology can make for your organization.
Download Workforce Analytics Whitepaper
Demystifying Predictive Analytics
Hear how workforce analytics help HR leaders make smarter, data-driven decisions, in this on-demand webcast featuring Dr. Laurie Bassi, CEO of McBassi & Company, and Steven VanWieren, principal data scientist at Ultimate Software.
Watch Workforce Analytics Webcast