Oracle Human Resources Analytics is helping companies of all types and sizes properly harness the wealth of information they have at their fingertips including data on recruitment efforts, employee performance, employee engagement, customer satisfaction, and so much more. While Oracle HR analytics provide a massive amount of data into virtually every aspect of the business, most HR managers don’t have a thorough understanding of how to use this data to make smarter, more strategic decisions.
When your company decides to implement Oracle HR analytics cloud and learn how to effectively use the data it provides, you’ll be able to not only show how employee productivity and engagement both affect bottom-line sales but also determine how effective your learning programs are and how you can ensure employees will stay with your company for longer.
Do you know how using Oracle HR analytics can boost productivity at your organization?
Here is how you can implement Oracle HR Analytics to boost productivity.
Step 1) Set Goals
The most important step in advancing your Oracle HR analytics strategy is to set goals. Without proper goals set, it’ll be impossible to answer essential questions about your strategy like what are you trying to achieve with your data analysis? What other systems besides HR will you need access to? What systems will you need to be put in place to allow you to access and analyze your sources? By answering these questions and setting SMART goals, you’ll be able to lay the groundwork for a focused Oracle HR analytics plan of action.
Step 2) Develop Your Strategy
While your organization likely already has HR analytics it’s using, it’s essential to assess where your HR strategy currently is, then identify ways to expand and leverage your data sources, which will allow you to reach the goals you set in step one. With Oracle Human Resources Analytics, you’ll be able to improve all programs you offer at your organization including employee referral programs and recruitment campaigns, as well as customer and employee engagement efforts.
Step 3) Support Your Goals by Supporting Your Team
When it comes to Oracle Human Resources Analytics, data can provide your organization with tons of insights that will allow you to improve your bottom line by improving all other aspects of your business. For this data to be analyzed correctly though, it’s essential that you employ a data expert, even possibly a data scientist, to properly and effectively drive you’re your Oracle HR analytics strategy.
Step 4) Connect Disparate Data Sources
Now that you have set SMART goals and employed a data scientist to help your team reach those goals more effectively, it’s time to narrow your focus on HR data that will serve as your Oracle HR analytics foundation. You’ll also need to determine which data sources from which departments will properly help you with your decision-making. Whether you’re using Oracle analytics cloud or an on-premises solution, any technology you use should help bring together insights and provide valuable business insight to all business users. It’s essential to implement technology that will allow you to simplify data into easy-to-understand reports, dashboards, and visualizations.
Step 5) Implement Predictive and Prescriptive Analytics
Once you have finally connected your disparate data sources, you turn your data into powerful insights that can help you present more effective solutions for future success and make more effective business decisions. Implementing Oracle Human Resources Analytics not only allows you to embrace advanced analytics like predictive analytics but also prescriptive analytics as well, which allows you to uncover recommendations and solutions from your data. By implementing both predictive and prescriptive analytics, you’ll not only be able to learn which employees are likely to leave the company but why and how you can fix these issues.
Oracle HR analytics are helping companies of all types boost productivity, reduce turnover rates, and improve both customer and employee satisfaction. Before you can properly implement Oracle Human Resources Analytics though, it’s essential that you follow these steps and have a proper action plan in place to experience the most benefits from Oracle analytics cloud.