Human Resources Analytics for Effective Decision Making
HR analytics is a data based, information processing and statistical approach to create predictive models that can identify and forecast trends and patterns of causal relationships between multiple factors. The insights obtained through the statistical models predict for example, employee behavioral patterns and their performance, the demand and supply of people, and the impact of compensation benefits and employee turnover trends. Managerial decision-making is increasingly supported and transformed by the use of HR analytics. HR professionals will appreciate how HR analytics leverage the competitive advantage of companies in a fast-changing economy.