Accurately monitoring HR data, in terms of time & attendance, turnover, training processes, and workforce productivity is important for a number of reasons. It provides organizations with a clear view of this data, and allows companies to take steps to improve or maintain their processes.
In order to get the full worth of this data though, organizations should implement a sophisticated analysis method. Yes, HR professionals within the company could look at this data and create charts and graphs for observation, but this process can be easily automated. In a world of evolving technology, it seems somewhat silly to manually compile all of this information.
Automating the analysis is much easier and much less time-consuming – companies should invest in a business intelligence system.
A business intelligence system has been defined as a computer-based solution that automatically sorts, organizes, and presents information about the company. This information can range from sales revenues to corporate income to more specific data, such as information about human resources. When the data is HR-specific, the system has been referred to as a “workforce analysis” tool. Utilizing this kind of solution provides businesses with:
- Flexibility: data can be shared with certain members of the organization, and information about specific HR activities can be extracted
- Empowerment: the technical aspect of organizing information is automated, so anyone can easily access and understand the data
- Knowledge: the information analyzed by the system is of great worth, and can provide managers and employees alike with important knowledge about trends within the company
- Advanced Capabilities: automated systems easily produce sophisticated reports and clearly organized data, allowing for more time to spent on identifying internal trends and areas for improvement
Investing in a BI or workforce analysis system is highly recommended to all organizations. These systems are sold individually, and can also be found as modules in workforce management offerings.
Visit our website to find out more about having a business intelligence component to your WFM solution.
