Predictive analysis has seen rapid growth in the trends of Human Resources. Most of the people who are acquainted with HR analytics talk and discuss analytics in HR, but hardly any organization has tried to implement it in their operations.
In this article, we will discuss HR predictive analytics and how they can be a boost for the HR departments.
Big data analytics enables all the data to convert into a combined big data and predictive analysis for the future. Predictive data analytics is present everywhere and it is becoming the essence of technology that learns from human behavior. In the movie, money-ball predictive analytics were used to predict the potential success of individual baseball players. In a similar way, the credit card you are using has historic data from millions of people in the past to check whether they can pay or not. Analytics involves the set of statistical techniques used to predict the outcomes.
Let’s say, you collect the data of your employees in and out time according to their marital status, weather condition, transportation, and distance from the office. You can collate and compare the data of married and unmarried employees. Through these kinds of data, you can keep a check on your requirements. Sometimes it is not possible to call the married employees on the night shift. Unmarried employees are prone to early resignation, the far living employees are late and self-owned and vehicle employees are stuck in jam. Through this, you have everything handy with you with some logic and filters.
The most common method of creating a predictive model is to create the decision tree. The decision tree is a tree-like model that consists of the decisions and their possible consequences. In the tree, every node represents the test on the specific attribute and the branch represents the possible outcome.
How HR predictive analysis is applied in practice
The HR department of an organization has large quantities of data. Through applying predictive analysis data, HR becomes the strategic partner that relies on proven and data-driven predictive models. HR predictive analytics enables HR to forecast the impact of policies on people and it can play a preventive role in upcoming catastrophes. But, only a few organizations can implement the HR predictive analysis. Only 8% of the organizations had the capability to implement it themselves. If implemented properly HR
Predictive Analysis can serve as a support to the Human Resources Professionals to read and compare the policies which were implemented with the current one.