Our people are our most important asset, or so we hear, so data about those people – workers, or employees, if you prefer – should be central to our organization’s total data set! To understand where HR data fits, you first have to understand your organization’s overall data management strategy. How is data collected, organized, and managed? And how do you analyze that data to obtain information?
“Business Intelligence”, the idea of transforming raw data into useful and actionable information, has become an oft-discussed concept. It allows management to gain historical insight and to produce predictive analytics for competitive advantage. And Business Intelligence arises directly from “Big Data”, the process of bringing together raw data from multiple data sources into a single analytical tool. That tool can be used by management to produce Business Intelligence.
The next time that you use Google, or some other search engine, do a search for some unusual item; something that you haven’t searched for before. Then spend some time on sites that you visit often.
You will notice that ads related to the unusual item will pop up beside your search results for the more common items. That is Big Data at work in a marketing context. Google has picked up your first search and is now displaying pages that its algorithm predicts will be of interest to you based on that search. And Google (and other providers) charge advertisers for this. It is the core of their economic model.