With data being rendered, one of the most crucial tools for any business, it only makes sense that companies explore resources that can help them properly leverage the value data stands to offer. It is why organizations across the globe are ardently seeking solutions that can effectively extract the actual value from their data and use it to provide insights to assist them with a variety of endeavors and business goals. And this search has to lead them to the doorstep of business intelligence, which is a software that helps them glean insights from data to help drive better decision making.
Okay, so we can see that business intelligence helps, well, businesses. But precisely which aspects of a company, you ask. Quite frankly, pretty much all of them; take Human Resources, for example. One would think that HR would be a mostly human-driven process, but they’d be wrong. Thanks to the rapid evolution of technologies such as business intelligence, even HR stands to gain quite a bit. From unifying all the critical and relevant data under one platform to pulling data in a flash — the scope of what one can do with business intelligence in the context of HR is quite extensive. To help you understand just how potent this combination is, we have listed some of the most compelling benefits it delivers for the HR department of any organization.
- Improved performance: One of the most crucial parts of the HR department is ensuring that employees deliver optimum performance. Unfortunately, this can be quite complex. So, what business intelligence does is help track and evaluate employees’ performance, including that of new or recent hires. This analysis, when done regularly, helps make sure that employees perform as they are expected and lend required assistance if they are struggling.
- Efficient hiring: Finding the ideal candidate for a position is not an easy task by any measure. It requires one to sift through a mountain-load of resumes and other relevant data to just put together a shortlist of potential candidates suited for the role. But with business intelligence, this process is both sped up and eased — this tool can quickly scan and understand the company’s requirements in the context of the open position, evaluate market standards, and match all of that against the candidate pool to make the hiring process more efficient.
- Robust CSR program: Since CSR is also one of the many responsibilities for the HR department, BI can help in this regard by matching the company’s CSR goals with employees’ interests. Say, some like to volunteer their time teaching kids or helping out at the local animal shelter — it becomes quite easy to put together a highly effective CSR program with BI.
As you can see, this nifty technology has much to offer any company’s HR department and its many processes. But before you kick off your project for business intelligence implementation, we recommend that you take the time first to understand the business requirements and ensure that the tool will indeed serve a purpose in your company.