From the beginning of everything in business management, professionals around the world focused on three main areas that controlled the entire atmosphere. From the rule makers, speakers, researchers, professors to manager, all would emphasise on the terms that frame the principles, practices and the disciplines of corporate governance. It doesn’t just stop there, these three words are well loved and some would say overused by advertisers, marketers and PR people across multiple platforms in promoting products and services. Now with the buildup, these words may seem like the gods of business, they may as well be with the time they have received under the spotlight. These guys are the celebrities of the industry that will never get old. So to introduce them to you, they are; Effectiveness, Efficiency and Outcomes. These three oldies form the big great walls of stability. Predictive analytics, now conquers their world by accentuating the meanings of these giants with measurements that will take it to the next level. Giving Predictive Analytics the seal of approval in the business world.

Efficiency

Organisational productivity is a key attribute in the entire success journey. Closely dealing with the workforce and their availability to complete tasks that add up to goals, objects forming strategies around plans for the future. Future being the key term here, we all wish of a chance to just catch glimpse of it before making the plans. This becomes an interesting concept that comes to life with Predictive Analytics, as it enables organisation’s to measure the broad concept of efficiency in a segmented manner, with information derived from the simpler origins such as Absenteeism and Attendance. To closely monitor team availability and man-hour loss percentages that becomes the little lego pieces building the structural giant that is efficiency. Giving a clear picture of the anomalies that maybe the cause of positive or negative fluctuations.

Effectively

How often have you wondered whether the efforts that you put into employee retention or engagement make sense? Does it really make a difference in the long run or is it a way of masking a problem with a temporary patch. These add up over time becoming the cause of a tsunami of risks and issues that might need more than just a patch. To know whether we are doing the right thing or whether it worked, we must first know the reasons and impacts surrounding the problem that needs addressing. Turnover is one such beast that keeps on attacking from time to time. To know how to counteract is one of the areas that Predictive Analytics will help conquer. With employee satisfaction, reasons and compensation impact on turnover measured over time leading up to the future, it will help you make the right choices that will work over time.

Outcomes

Every action has a reaction and this goes to business as it does for science. Everything that has been practiced over the years, big or small add up, this is nothing new to explain. Changes can be positive or negative, and to find the right balance has been the ultimate goal among many professionals for years. Most often this balance has come through trial and error or just a hunch that worked out of luck. There was never a way to know what the outcome will be until it arrives at the door step after it’s all done. Although this may change with Predicative Analytics, because with it all your past efforts add up to create a trend line that goes into the future. Giving a look into the turnover, absence and attendance rates for the future in a dashboard of graphs that take you through the past, present and the future.

Back when things were manual, HR was a world of paper trails, fast forward a few years, HRIS comes in and makes it a click and go game. Today, another few years ahead, it’s become a plug and play your future kind of game. Every new addition to the digital HR world take organisations closer to the future. A prediction that was based on a report and a gut feeling, goes to a whole new level as HRIS takes in the past in and give you the future in a platter. Taking it from just a decision to an informed one, better yet, one that’s backed by your very own data story. Check it out, because decision making cannot get any better!