By: Greta Roberts, Conference Chair Predictive Analytics World for Workforce 2015
In anticipation of his upcoming Predictive Analytics World for Workforce keynote presentation, Why the Rapidly Changing World of Analytics Matters for both HR and Business, we interviewed Holger Mueller, Principal Analyst & VP at Constellation Research, Inc. View the Q-and-A below to see how Holger Mueller has incorporated predictive analytics into the workforce of Constellation Research. Also, glimpse what’s in store for the new PAW Workforce conference.
Q: In your work with predictive analytics, what specific areas of the workforce are you focused on?
A: I work as an industry analyst – so I help enterprises to understand the HCM and next generation application space, which includes analytics and big data. While workforce productivity is important, we have seen almost all vendors looking at ‘flight risk’ and deliver models for that scenario. The current focus is mainly on finding the right talent to fill positions both internally and externally. With the upcoming retirement and overall skills challenge, the recruiting and succession management function need all the help they can find. Another area is that both vendors and enterprises are realizing that psychographic information is key for people’s success, and are in the process of adding these capabilities to HCM decisions.
Q: Do you primarily work inside of HR – or inside of the Line of Business? If Line of Business – which one(s):
A: I work as an industry analyst – so neither HR or LoB. But write, speak and advise to both. Analytics give power to users in the LoB to come to their own HCM decisions – often without involving HR professionals.
Q: What workforce outcomes do your models predict?
A: As analysts we don’t have our own models, but both vendors and customers are mainly focused on recruiting at the moment.
Q: What is one specific way in which predictive analytics actively drives decisions?
A: Saving time to the business user. Once they trust their analytic software, they will go with its (recommended) decisions quickly/easily.
Q: Can you describe a successful result, such as the predictive lift of one of your models or the ROI of a predictive analytics initiative?
A: There are many success stories for analytics in HR. It would be wrong to put a few on the pedestal.
Q: What area of the workforce do you think has seen (or will see) the greatest advances or ROI from the use of predictive analytics?
A: No specific area – certainly a few employees have seen better paycheck and retention measures based on the first wave of analytics apps that focused on ‘flight risk’. We now see a much broader use of analytics, so it cannot be associated with a single group. In the longer term the LOB user/executive will gain as more decisions can be made at greater speed and quality, which equates in time savings. What they will do with those remains to be seen.
Q: Why do you think Business Leaders, HR Leaders and Analytics professionals should attend Predictive Analytics World for Workforce?
A: To hear the latest state of analytics in HCM.
Q: What is one misunderstanding people have about using predictive analytics to solve employee challenges?
A: Too many ‘false’ analytics are out there that do not take action or make recommendations. Many visualizations are (wrongly) called analytics.
Q: SNEAK PREVIEW: Please tell us a take-away that you will provide during your presentation at Predictive Analytics World for Workforce.
A. Understanding what real analytics are and how best practices are evolving.
Don’t miss Holger Mueller’s conference presentation, Why the Rapidly Changing World of Analytics Matters for both HR and Business, at PAW Workforce, on Tuesday, March 31, 2015, from 1:30-2:15 pm. Click here to register for attendance.