Note: This post originally appeared in the Oracle Cloud Platform blog
For any company, data provides a powerful gateway for uncovering critical information and deep insights. In the realm of human resources (HR), analytical technologies drive the intersection between people and data to deliver better efficiencies and strategic decision-making. Whether you’re dealing with recruitment, budget, employee satisfaction
With so many moving parts in a workforce, it’s important that HR leaders can leverage complete sets of data including third-party, external, and internal sources. However, this practice is more rare than frequent, as only 8 percent of companies claim to have usable workforce data. HR departments often rely on IT to gain access to employee information and use outdated systems like spreadsheets to analyze that data. To avoid cluttered data that risks producing inaccurate insights, companies need an analytics cloud solution that can aggregate and blend information to form a single source of truth. Workforce analytics enable greater visibility into the company that can be leveraged for hiring, engagement, and development initiatives. HR leaders can uncover hidden patterns with augmented analytics enabled by machine learning, while reducing security risks associated with manual data management such as spreadsheets.
As important as it is to having the ability to gain business insights, is the capability to do so quickly and effectively. As HR departments cover a range of initiatives, from employee satisfaction to budget optimization, it’s critical that they have a robust data and analytics solution that can help forecast workforce needs while aligning them with big-picture goals. With artificial intelligence, your department can optimize processes and better anticipate workforce trends. Cloud solutions also allow organizations to become more agile - enabling them to quickly respond to new insights and apply changes to business strategy that improve employee performance.
In order for HR leaders to optimally leverage new analytical tools, they need a solution that’s simple and easy-to-use. With a cloud-based analytics tool, it provides a self-service platform where employees can access information and run analytics initiatives using visualizations, interactive reports, and dashboards - all with minimal IT support. Employees can analyze HR data in real-time with advanced reporting tools and access mobile analytics through any device.
Oracle Autonomous Database and Oracle Analytics run on the Oracle Cloud - a next-generation cloud infrastructure that delivers high-performance computing power for running cloud native and enterprise workloads. Oracle Analytics uses built-in machine learning and artificial intelligence to analyze data across your organization and discover unique insights faster. By combining autonomy with analytics, HR leaders can quantify and predict outcomes, understand recruitment channels, and review employee decisions through a secure and reliable platform. As the cloud introduces new opportunities for organizations, it’s up to business leaders to effectively leverage these next-gen tools and drive greater performance across the company.