ventana research the role of analytics in data-driven knowledge

© 2015 Ventana Research1 © 2015 Ventana Research

The Role of Analytics in Driving Knowledge

Mark SmithCEO & Chief Research Officer

March 11, 2015

© 2015 Ventana Research2 © 2015 Ventana Research2

Engaged and Smarter Workforce

More Engaged Workforce

Smarter Workforce

Better Business Results


Technologies for Employee Engagement

Effective Collaboration

Better Information & Insights

Good Employee

Development


Technologies for Smarter Workforce

Effective Collaboration

Better Learning Systems

Actionable Information


Analytics Addresses Information Needs

Information & Insights

Actionable Information

Human Capital Analytics


Power of Human Capital Analytics


Business Analytics and Big Data

Analytics is ticket to success• New methods for discovery

and exploration• Predictive analytics now are

exploitable by business• New forms of presenting and

interacting analyticsBig Data is a new platform

• Embracing all types of data for operations and analytics

• New technologies to exploit the potential of big data

• Varying approaches now provide big data analytics


Big Data is Not Magical Fix for Analytics


Types of Human Capital Analytics

Analytics Across HR• Talent management is the most critical type of human capital analytics in 74% of organizations.

• Over half (54%) see analytics are critical to core HR and over half (52%) for workforce management.


Enable Timely Access to Data

Analytics Require Data• Over half (51%) are

dissatisfied with their analytics processes.

• Almost two thirds (63%) state data is not available for use in HR.

• Critical to ensure data sources are accessible to have best quality of data.

Source: Ventana Research Human Capital Analytics Benchmark Research


Analytics Enable Effective Learning

Improve Effectiveness:• Over third (37%) use

spreadsheets to track learning courses and half (55%) state they make it difficult to manage learning efficiently.

• Only less than fifth (17%) use analytics software to track metrics today.

• Over half (52%) lack satisfaction with LMS reporting and little more than two thirds (63%) with LMS analytics.

• But only more than third (39%) indicate they plan to improve analytics.

Source: Ventana Research Next Generation Learning Management Systems Benchmark Research


Making Analytics Easier to Act On

Make Them Actionable• Over three quarters (78%)

of companies see actionable analytics as important.

• Ensure analytics allow executives to take action.

• Make the system easy to use and interact with.

• Allow there to be a good way to design measures.



Five Reasons Not Satisfied with Analytics

1. Data not readily available (63%)

2. Not enough skilled workers (45%)

3. Hard to build and maintain (42%)

4. Technology inadequate (37%)

5. Not adaptable to change (34%)



Top Benefits of Human Capital Analytics

Engage and retain more of workforce

52%

Improve efficiency and productivity

61%

Improve management actions and decisions,

51%

Create more accurate budgets and plans

49%

Perform workforce planning and budgeting

42%



Mobile Technology Revolution


Growth in Using Mobile Technology

66%of organizations use some form of mobile technology to access human capital analytics.



Digital Collaboration Across Workforce


Business and Social Collaboration

Social Collaboration is business revolution

• Use collaboration for business process effectiveness

• Methods to interact are easier and more valuable

• Use of gamification for enabling contests and engagement

• New social approaches bridge generational gaps


There is Room to Improve Collaboration

Close to half of companies say they do not have enough collaboration occurring

Only 4 percent of companies say they have too much collaboration occurring

Source: Ventana Research Next Generation Learning Benchmark Research

46%

4%


Mobile and Collaboration for Analytics

66% Two thirds of respondents are using mobile devices to access analytics

56% Over half see collaboration as important to improving analytics


Modernize Human Capital Analytics



1. Assess performance of existing analytic efforts2. Identify areas where improvements have largest impact3. Manage HR to embrace and deploy analytics4. Focus where you can optimize through analytics5. Track improvement and provide insights on progress

Steps for Role of Analytics for Knowledge



Looking at Future Potential

Take Smarter Approach• Examine how to address

best and worst practices of the past to help organizations future

• Prioritize the pain of organizations to help guide the future value of investment

• Determine the future opportunity of prospects to establish longer term roadmap.


Mark Smith – Contact Information

Twitter@marksmithvr

LinkedIn http://www.linkedin.com/in/markallensmith

Analyst Perspectiveshttp://marksmith.ventanaresearch.com

Community and Web Sitehttp://www.ventanaresearch.com

http://www.linkedin.com/in/markallensmith

http://blog.ventanaresearch.com/

http://www.ventanaresearch.com/

© 2015 Ventana Research26 © 2015 Ventana Research

The Role of Analytics in Driving Knowledge

Mark SmithCEO & Chief Research Officer

March 11, 2015

ventana research the role of analytics in data-driven knowledge

Data & Analytics

ventana research3technologies

ventana research4technologies

ventana research2engaged

ventana research11analytics

ventana research8big

big data analytics

actionable analytics

lms analytics