Predictive analysis has seen the rapid growth in the trends of Human Resources, most of the people who are acquainted with the HR analytics, they talk and discuss about analytics in HR, but hardly any organization has tried to implement it in their operations.
In this article, we will discuss about the HR predictive analytics and how they can be the boost for the HR departments.
The big data analytics enables all the data to convert it 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 the human behavior. In the movie, money-ball predictive analytics were used to predict the potential success of the individual baseball players. In the 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.
The analytics involve 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 office. You can collate and compare the data of married and unmarried employees. Through these kind of data, you can keep a check on your requirements. Sometimes it is not possible to call the married employees in the night shift. Unmarried employees are prone to early resignation, the far living employees are late and self owned vehicle employees are stuck in jam.
Through this, you have everything handy with you with some logics and filters.
The most common method of creating a predictive model is to create the decision tree. The decision tree is tree-like model consist 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 apply in practice
The HR department of an organization has the large quantities of the data. Through applying predictive analysis data, HR becomes the strategic partner that relies on proven and data driven predictive models. HR predictive analytics enables the HR to forecast the impact of policies on the people and it can play a preventive role in the upcoming catastrophes.
But, only few organizations can implement the HR predictive analysis, only 8% of the organizations had the capability to implement it in 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.