Long Data to Drive Workforce Analytics
According to Mercer, a global consultant in talent management, when searching for ways to capture the power of Big Data to unlock workforce insights, companies can get lost in the analysis. One solution is to implement Long Data. It is described by mathematician and scientist, Samuel Arbesman, as data sets that have massive historical sweep, providing insights from stories that have unfolded over time; whereas Big Data provides insights into one point in time.
“We see human capital management, including the ability to link performance management data with historical compensation practices, as being completely redefined by the proper use of long data and the insights it can provide,” says Orlando Ashford, president of Mercer’s talent business. “At any given point, most employee performance ratings match a classic bell curve, which is not by itself very revealing. However, with the proper segmenting of employee populations and their performance over time, trends and barriers can reveal themselves quite dramatically.” This new way of viewing data longitudinally can fundamentally change the traditional annual performance review process. Mercer offers a workforce analytics software program to assist companies in their planning programs. Learn more at www.mercer.com/merceranalytics.
Illustration by Stuart Miles at Free Digital Photos.net
Compiled from press materials.