Big Data and Business Intelligence - What Executives Need to Know
Horsefly Analytics undertook an extensive survey of US and UK-based HR, TA professionals, business strategists, recruiters, and other stakeholders to gain insight into how they handle recruitment’s most pressing issues. Our respondents were from various industries, including healthcare, technology, recruitment agencies, the public sector, and financial institutions. The survey aimed to uncover how businesses prepare for the future of Talent Acquisition and which strategies create a pipeline of diverse leaders, managers, and specialists.
68% of survey respondents in executive positions stated they would be requesting more data when making talent decisions, and only 28% predict they’ll use the same amount of data in 2023.
The survey results show that data is essential to talent leaders regarding workforce planning and internal mobility strategy. This is a considerable shift from the traditional reliance on gut instinct, as it provides a more reliable source of information on base decisions. Data can provide insights into hiring trends, job seeker behavior, and turnover patterns, helping employers make more informed decisions and tailor their recruitment and retention efforts accordingly. To learn more about how data is essential to the modern workforce– keep reading, and don’t forget to snag your copy of the Talent Analytics Survey Results!
Data Is Essential to the Modern Workforce
With the digital age in full swing, executives from all industries have realized that having access to big data is paramount for their organization's long-term success. Data analysis has become necessary to stay ahead of today's fierce competition and make well-informed strategic decisions—a sharp contrast from just several years ago when such resources were not feasible or available!
65% of talent leaders view data as essential to their workforce planning and internal mobility strategy. Check out the full Talent Analytics Survey Results here.
Horsefly’s longitudinal data feature might be the game changer hiring professionals have been waiting for. Combining historical talent supply and demand on a single graph, this feature allows users to easily view trends and identify events that may have affected movements in the market.
Additionally, Horsefly’s longitudinal data feature provides historical data and trends to see when the market will be most favorable for hiring, allowing organizations to attract the right talent at the right time.
This feature will give hiring teams the competitive edge they need to ensure they’re not only finding the best candidates but are finding them ahead of their competition. With Horsefly's Longitudinal Data, workforce planning and talent strategy just became easier.
Power Accurate Intelligence in Your Hiring
Big data transforms how organizations approach hiring. By leveraging vast amounts of data, companies can gain deeper insights into candidates, enabling them to make more accurate hiring decisions.
With the help of sophisticated algorithms and artificial intelligence, companies can analyze candidate data quickly and efficiently, identifying the most promising candidates and predicting their likelihood of success in a particular role. This approach saves time and resources and increases the chances of hiring a candidate who fits the company culture well. and has the skills necessary to excel.
Ultimately, using big data in hiring is revolutionizing how organizations approach Talent Acquisition, helping them to power accurate intelligence in their hiring practices.
With stiff competition for top talent, arming your recruitment team with the best data is key to staying ahead. Horsefly ensures you have reliable insights into hard-to-find candidates so that recruiting shortages don't risk stalling success.
Build Your Expansion Strategy with Confidence
Before embarking on any expansion strategy, it is imperative to have accurate and complete data to guide your decision-making process. This data should provide insights into market trends, consumer behavior, and the competitive landscape.
With such information, it would be easier to determine whether expansion is viable and where to focus your efforts. Additionally, relying on incomplete or inaccurate data can lead to costly mistakes, such as entering a market with insufficient demand, inadequate resources, or fierce competition.
Therefore, investing in market research, gathering data from reliable sources, and analyzing it rigorously is essential to ensuring a strong expansion strategy. Doing so can increase your chances of success and minimize the risks associated with expansion.
With Horsefly’s complete and accurate data from around the world, you can easily identify prime locations for growth and create insightful heatmaps that show where talent is available. Plus, get compensation averages per city to understand how to set expectations and budgets accordingly.
Why Business Leaders Need Talent Intelligence
Talent Intelligence tools are revolutionizing the recruitment process for workforce planning teams and HR leaders, allowing them to quickly identify skill sets in potential hires, diversify their employee pool, and increase engagement.
By combing through thousands of sources, including candidate profiles, labor market data, and job ads, these platforms compile accurate information that can be used strategically. These platforms create insights for high-level talent assessments like expanding your talent pool or more granular approaches like measuring diversity metrics.
For organizations looking to stay ahead of the curve, Talent Intelligence Platforms offer your company a competitive edge. By leveraging machine learning and ethnicity data with reliable accuracy, companies provide recruiters and HR leaders valuable insight into crafting successful talent strategies and career paths. The Horsefly platform is a prime example. Our platform contains detailed career path data that enable teams to create engaging employee opportunities while mitigating challenges due to today's talent shortage.
So, don’t delay leveraging big data for the future success of your business. Book your demo with us today.
Horsefly’s Talent Analytics Survey results show that in today's competitive landscape, having access to accurate, up-to-date data is essential for talent leaders who want to stay ahead of the curve regarding workforce planning and internal mobility strategies. Download the full Talent Analytics Survey Results Ebook to ensure your company is on the right track.