The world is facing a re-skilling emergency. World Economic Forum highlights that over 54% of people will need to re-skill and up-skill themselves in the next 3 years.

Technological Advances are Upending How Work is Done

As the world of work changes, the role of the human resource department will no longer be limited to hiring and firing. HRs will need to be better at:

• planning training,
• acquisition, and
• retention strategies for their organizations.

And this is where Big Data steps in.

Big Data in HR

Big Data is about the 4V’s – Volume, Velocity, Verity, and Versatility. The newly added fifth V being Value.

Average talent management and human resource department produce a huge chunk of data on an everyday basis.

• Data from recruitment,
• Career progression data,
• Training data,
• Data from employee absenteeism,
• Performance of individuals,
• Competency of profiles in the org. and more.

For organizations, HRs are nothing short of a goldmine of ‘people data’. In 2018, the Economic Intelligence Unit found that:

More than 82% of organizations plan to begin or increase the use of Big Data in HR. (And the numbers have gone up drastically after 2020).

Going forward, intelligent organizations and talent management professionals will drive their operations and inform their decisions through data.

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