HR Analytics and Big Data @ Work
5.5K views | +0 today
Follow
HR Analytics and Big Data @ Work
Articles, research and reports on HR Analytics, Big Data and related topics
Your new post is loading...
Your new post is loading...
Scooped by Tony Brugman (Bright & Company)
Scoop.it!

The Rise of Data-Driven Decision Making Is Real but Uneven

The Rise of Data-Driven Decision Making Is Real but Uneven | HR Analytics and Big Data @ Work | Scoop.it
Growing opportunities to collect and leverage digital information have led many managers to change how they make decisions – relying less on intuition and more on data. As Jim Barksdale, the former CEO of Netscape quipped, “If we have data, let’s look at data. If all we have are opinions, let’s go with mine.”
Tony Brugman (Bright & Company)'s insight:

Research by MIT and London School of Economics, studying the rise of 'data-driven decision making' (DDD) in US manufacturing. The researchers found that usage rose from 11% to 30% between 2005 and 2010.

 

"However, adoption has been uneven. DDD is primarily concentrated in plants with four key advantages: 1) high levels of information technology, 2) educated workers, 3) greater size, and 4) better awareness."

 

"No doubt the hype surrounding big data and analytics is great. However, (..) there is something beyond the hype: firms are rapidly adopting DDD and fundamentally changing how they approach management in the digital age."

more...
No comment yet.
Scooped by Tony Brugman (Bright & Company)
Scoop.it!

When Health Care Gets a Healthy Dose of Data | MIT Sloan Management Review

When Health Care Gets a Healthy Dose of Data | MIT Sloan Management Review | HR Analytics and Big Data @ Work | Scoop.it
American health care is undergoing a data-driven transformation — and Utah’s Intermountain Healthcare is leading the way.
Tony Brugman (Bright & Company)'s insight:

Extensive MIT Sloan Management Review case study article of a major healthcare organisation that worked on building a data and analytics culture throughout the organisation. Not without results: "Data-driven decision making has improved patient outcomes in (its') cardiovascular medicine, endocrinology, surgery, obstetrics and care processes — while saving millions of dollars in procurement and in its the supply chain."

more...
No comment yet.
Scooped by Tony Brugman (Bright & Company)
Scoop.it!

Instinct Can Beat Analytical Thinking

Instinct Can Beat Analytical Thinking | HR Analytics and Big Data @ Work | Scoop.it

Psychologist Gerd Gigerenzer has spent his career focusing on the ways in which we get things right, or could at least learn to. In Gigerenzer’s view, using heuristics, rules of thumb, and other shortcuts often leads to better decisions than the models of “rational” decision-making developed by mathematicians and statisticians. 

 

A Q&A with psychologist Gerd Gigerenzer.

Tony Brugman (Bright & Company)'s insight:

Must read on decision-making! Extensive HBR blog interview "Instinct Can Beat Analytical Thinking"

more...
No comment yet.
Rescooped by Tony Brugman (Bright & Company) from Talent Analytics & The Future of Work
Scoop.it!

Analytics Give HR an Early Warning System

Analytics Give HR an Early Warning System | HR Analytics and Big Data @ Work | Scoop.it

"The Project: Deploy predictive analytics internally at ADP to improve human resource decision-making, identify future talent gaps and reduce attrition.


The Business Case: As the largest payroll services provider in the world, with $11.3 billion in revenue, ADP was sitting on a gold mine of employee information -- data on 33 million workers, to be exact."


Via David Green
Tony Brugman (Bright & Company)'s insight:

HR-IT supplier ADP implemented HR Analytics in its own organisation. Read what happened and what ADP learned...

more...
No comment yet.
Scooped by Tony Brugman (Bright & Company)
Scoop.it!

Cognitive analytics

Cognitive analytics | HR Analytics and Big Data @ Work | Scoop.it
Cognitive analytics offers a way to bridge the gap between big data and the reality of practical decision making.
Tony Brugman (Bright & Company)'s insight:

Good article by Deloitte on Cognitive Analytics. "In practical terms, cognitive analytics is an extension of cognitive computing, which is made up of three main components: machine learning, natural language processing, and advancements in the enabling infrastructure."


The article describes the history, trends and lessons learned from practice and concludes with some tips on where to start with cognitive analytics as an organisation.

more...
No comment yet.
Rescooped by Tony Brugman (Bright & Company) from Megatrends
Scoop.it!

IBM CEO: "Data Analytics Will Revolutionize Decision-Making"

IBM CEO: "Data Analytics Will Revolutionize Decision-Making" | HR Analytics and Big Data @ Work | Scoop.it

With cloud, mobile, social and big data advances all happening at once and at lightning speed, how will shifts in technology impact the way businesses are run? The CEO of IBM, thinks it will change everything.


Via Kenneth Mikkelsen
Tony Brugman (Bright & Company)'s insight:

In regard to data analytics, Ginni Rometty (the first female CEO of IBM) says the following in Forbes:

"Many more decisions will be based on predictive elements versus gut instincts." Although "leaders and managers interpret information through the lens of their subjective perspective and set of experiences", "with the incoming tsunami of information”,"those companies that are able to use data to their advantage will make better, more objective calls."

more...
Kenneth Mikkelsen's curator insight, March 9, 2013 7:18 AM

This ties beautifully in with a commentary Rasmus Rask Eriksen and I wrote for the leading Danish newspaper, Berlingske Tidende, earlier this week. For Danish readers you'll find it here: http://www.b.dk/kronikker/den-digitale-revolution-sneg-sig-ind-ad-bagdoeren

Gordon Gower's curator insight, March 11, 2013 11:31 AM

Just three on the many... (?)

Scooped by Tony Brugman (Bright & Company)
Scoop.it!

Game theory in practice

Game theory in practice | HR Analytics and Big Data @ Work | Scoop.it
FOR a man who claims to lack expertise in the field, Bruce Bueno de Mesquita, an academic at New York University, has made some impressively accurate political...
Tony Brugman (Bright & Company)'s insight:

Great article by The Economist on Game Theory in practice and how computer software can help and support in the prediction and mediation of political decision-making, various problem solving and even divorce settlements.

more...
No comment yet.
Scooped by Tony Brugman (Bright & Company)
Scoop.it!

Why Good Spreadsheets Make Bad Strategies

Why Good Spreadsheets Make Bad Strategies | HR Analytics and Big Data @ Work | Scoop.it
We live in a world obsessed with science, preoccupied with predictability and control, and enraptured with quantitative analysis. Economic forecasters crank out precision predictions of economic growth with their massive econometric models. CEOs give to-the-penny guidance to capital markets on next quarter’s predicted earnings. We live by adages like: “Show me the numbers” and truisms […]
Tony Brugman (Bright & Company)'s insight:

Reality-check HBR article by Leadership and Strategy expert Roger Martin on 'our' preoccupation with predictability and focus on numbers in decision-making. The blog article has been published in 2010, but is still actual and relevant now. Especially in the world of analytics and Big Data.

 

"We must stop obsessing about measurement so much that we exclude essential but un-measurable qualities from our understanding of any given situation. We must also consider the possibility that if we can’t measure something, it might be the very most important aspect of the problem on which we’re working."

 

Martin wrote a more extensive piece in Rotman Management with the title 'Beyond the Numbers', in which he gave three pieces of advice "regarding the qualitative paradigm":

 

1) Decision making is not only about equations and symbols. We must use all of our senses as we form opinions and make decisions. Numbers can help to describe sensory experience, but they cannot serve as a substitute for it.

 

2) Never dismiss strong feelings that you have but cannot explain. (Sometimes) your feelings will run ahead of your ability to explain them to another person. But that doesn’t mean that they are wrong.

Rather than dismissing these feelings, integrate them into your quantitative analysis.

 

3) Cultivate surprise and learn to embrace it. If the course of action you have chosen — i.e. your model — produces an outcome

that you didn’t expect, don’t get upset and throw out the experiment. Instead, learn from it and adjust your model.

more...
No comment yet.
Scooped by Tony Brugman (Bright & Company)
Scoop.it!

Big Decisions: Executives Rely More on Experience and Advice Than Data to Make Business-Defining Choices (PwC)

Big Decisions: Executives Rely More on Experience and Advice Than Data to Make Business-Defining Choices (PwC) | HR Analytics and Big Data @ Work | Scoop.it
But Data-Driven Organisations Report Improved Decision Making, EIU/PwC Report Finds• Highly data-driven companies are three times more likely to report significant improvement in making big decisions,
Tony Brugman (Bright & Company)'s insight:

I have missed this publication back in September ('Gut & gigabytes: Capitalising on the art & science in decision making'), but the report by PwC contains some interesting findings on how executives use data in making their strategic decisions.

more...
No comment yet.
Scooped by Tony Brugman (Bright & Company)
Scoop.it!

Using marketing analytics to drive superior growth | McKinsey & Company

Using marketing analytics to drive superior growth | McKinsey & Company | HR Analytics and Big Data @ Work | Scoop.it
Companies have so many analytical options at their disposal that they often become paralyzed, defaulting to just one approach. A McKinsey & Company article.
Tony Brugman (Bright & Company)'s insight:

Replace Marketing with HR, and similar applies! Good article McKinsey Quarterly.

 

Three steps for making better data-driven decision-making:

1. Identify the best analytical approaches

2. Integrate capabilities to generate insights

3. Put the analytical approach at the heart of the organization

more...
No comment yet.
Scooped by Tony Brugman (Bright & Company)
Scoop.it!

The Science of Managing Black Swans | MIT Sloan Management Review

The Science of Managing Black Swans  | MIT Sloan Management Review | HR Analytics and Big Data @ Work | Scoop.it
New research: By exploiting organizational data, managers can derail some risky blind spots.
Tony Brugman (Bright & Company)'s insight:

Interesting blog article on MIT SMR arguing that organisations should focus more on data-driven risk management. As also counts for fact-based decision making, "organizations should rely less on management experience and intuition and rely more on integrated data to point to potential risks."

more...
No comment yet.
Scooped by Tony Brugman (Bright & Company)
Scoop.it!

Big Data's Biggest Challenge? Convincing People NOT to Trust Their Judgment

Big Data's Biggest Challenge? Convincing People NOT to Trust Their Judgment | HR Analytics and Big Data @ Work | Scoop.it
As the amount of data goes up, the importance of human judgment should go down.
Tony Brugman (Bright & Company)'s insight:

Great piece on HBR blog by MIT Sloan' Andrew McAfee on decision-making and analytics!

 

Quote du jour:

"The practical conclusion is that we should turn many of our decisions, predictions, diagnoses, and judgments over to the algorithms. There’s just no controversy any more about whether doing so will give us better results."

more...
No comment yet.
Scooped by Tony Brugman (Bright & Company)
Scoop.it!

Arguing for Increased Gut-feel in the Age of Analytics

Arguing for Increased Gut-feel in the Age of Analytics | HR Analytics and Big Data @ Work | Scoop.it
Talent Analytics, Corp. has created the most valuable, (and most addictive) talent analytics platform in the industry. Talent dashboards help organizations and consultants anticipate the affect of current and future talent on business strategies.
Tony Brugman (Bright & Company)'s insight:

Great post discussing the use of 'gut-feel' versus the use of hard analytics in decision-making situations. The author refers to the before Billy Beane (Moneyball) period, when baseball decisions were made solely on gut-feel, insead of using analytics. "Sadly, this is what many hiring managers today still do rather than should do."

 

Great quote from the article, which nails it the best:

"Relying solely on gut-feel is like flipping a coin; analytics advise you to pick heads."

more...
No comment yet.