Feb 2019 | Background Checks | Data Insights

Predictive workforce analytics

Experian is introducing a new analytical solution for HR to give greater insight into an organisations workforce and help accelerate HR strategies.

90% of the world’s data has been created in the last two years and more data brings more opportunity. But with few HR leaders being able to make informed decisions on their workforce and an average of 50% of an organisation’s cost being its people¹, workforce analytics is fast becoming the solution many businesses are turning to, to help deliver against business objectives.

“This is the best and most sophisticated predictive attrition tool I have seen in the marketplace.”

Raphael, Data Scientist at Multiplex.

What is workforce analytics?

Workforce analytics is a form of advanced data analysis used for workforce measurement and improvement. This allows organisations to gain insight in to the workforce on a large scale, at speed.  Workforce analytics, also known as people analytics, HR analytics or talent analytics, analyses data inputs to produce insight that can help managers and HR professionals make evidenced based, proactive decisions about their employees or workforce.  The use of predictive analytics takes it that one step further through the practice of extracting information from existing data and analytics in order to determine patterns and predict future outcomes.

Workforce Analytics: our latest innovative solution for HR functions to secure better, more productive futures for their people and organisation

This week saw HR leaders from a range of industries such as retail, utilities, banking, insurance and public sector come together to discuss the value of workforce analytics, common challenges of using people analytics and how to accelerate HR strategies using predictive workforce analytics.

Gianmaria, Talent consultant at Vodafone described the event as a very insightful session with lots of ideas. “I most enjoyed getting ideas from HR peers and getting information around predictive analytics and modelling.”

Experian Workforce Analytics for Retention – the first step in predictive analytics for HR

Experian are focused on unlocking the power of data in every aspect of what we do. So, when faced with the challenge of delivering growth through retention of top talent, we naturally turned to analytics to help accelerate our own HR strategy. This model, built by our experts, has a proven success on workforces at both Experian and other organisations, and it’s now available as a solution to help more businesses manage large workforces effectively.  We predict that fast data and actionable data will replace big data. Experian Workforce Analytics for Retention allows HR to lead the way in the future of work by providing the tools and expertise you need to understand the levers that will retain your top talent and grow your organisation.

Experian workforce analytics for retention allows you to:

  • Meet your business goals
  • Futureproof your workforce by retaining your talent
  • Make data driven decisions
  • Support core people management processes such as pay and talent reviews
  • Save on costs by making sure you’re investing in the right areas
  • Grow a happy organisation

Find out more about the power of workforce analytics.