We all know that our data holds the keys to helping us improve company performance, employee satisfaction, compliance, and many important aspects. However, data is being created at a much higher rate now than ever in the past, leading to mountains of data. Fortunately, this data is now also easier than ever before to sift through with the help of HRIS and analytics.
HRIS Can Collect and Manage the Data
Before analytics even comes into the picture, the HRIS is hard at work collecting and managing the data as it comes in. This saves management time from having to file and organize data, while putting the data into a digital database from which it is much more easily retrievable. Some data is obviously valuable, but other data may seem insignificant and may come in handy later, so it is convenient to have readily at hand.
Presents Data in Different Formats
After the data has been collected, it can be easily reviewed by selecting a reporting style in which to view it. Some data is easier to view in a chart, while other data may be easier to view in a graph or list format. Most HRIS solutions come with hundreds of reporting options and may even offer customizable reports, allowing you to pick and choose what it is you are viewing at any given time and even reorganizing it to provide different insights.
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Cross References Data across Organization
Data does not exist in a vacuum, so it makes sense that it shouldn’t be reviewed alone, either. This is where analytics come in. Cross referencing data and analyzing it using different tools may help you to spot patterns and make decisions quickly based on real information.
Analytics may take some time to get used to, but the HRIS and the vendor can help you figure out the best ways to review the data that will assist you with extracting information that will be of use to your organization. Outside perspectives can sometimes come in handy, as well. Allow employees and managers to come up with ideas that may utilize company data in different ways to provide insights into areas that are familiar to each position.
Communicate Large Amounts of Information Quickly
Analytics tools make it possible to break data down into a more digestible format, which makes it much easier to then communicate that data across the organization. HRIS can help with this step as well, making it possible to send analytics data along with notes and communications that turn the data from stagnant numbers to actionable insights. This can help to increase consistency across an organization, especially one with operations in several locations.
Can Help to Forecast the Future
While analytics aren’t exactly a crystal ball, they can be of assistance with future forecasts when it comes to labor needs, scheduling, absences, and many other HR issues. By analyzing past data in smart ways and taking factors that may affect the business into consideration, you may be able to predict certain future occurrences with reasonable accuracy. For this reason analytics are often seen as a valuable asset for future company growth and prosperity.