The predictive power of Big Data, when applied to human behaviour is set to revolutionise how business operates

1. www.peoplematters.in

2. The God of Big Things
The predictive power of Big Data, when applied to human
behaviour, is set to revolutionise how business operates
By Vikram Choudhury

3. As the quantum of business information grows beyond
imaginable proportions, business success will depend on
the way a business is able to interpret data intelligently

4. Simply having more data does not aid business decisions
Effective analytics is the bridge between big data and big insights and
four key factors indicate the effectiveness of analytics in an enterprise
•RELEVANCE: Organisations looking to invest in big-data analytics first
need to have a clear definition of the intended purpose of an analytics
platform that they are trying to build
•IMPACT: Impact refers to how an organisation, through the effective
use of analytics, can increase the odds of positive outcome
•PERSPECTIVE: Perspective implies the breadth of the organisation’s
view toward data and business capital measures, such as
Talent
•ACTION ORIENTATION: The ultimate objective of big data and
analytics is to have a list of outcomes at the end of the exercise.
Any big data and analytics exercise has to be aimed at achieving a set
of outcomes intended to raise the odds of business success

5. Can big data really show where to invest in talent?
5 ways by which Big Data analytics can become a game changer:
•Frequency of Use: Big Data analytics enables a company to make information more
transparent and usable at a much higher frequency compared to traditional business
intelligence
•Spread of analytical possibilities: Big Data analytics can virtually predict behaviours
of any and all business processes.
•Product and Service Positioning: Through Big Data analysis, businesses can create
micro-segmentation of customers, thereby allowing precision perfect tailoring of
products and services
•Board Decision Making: Through Big Data analytics, business indicators such as
revenue and business-line performance can be predicted more accurately across
short-term and long-term horizons
•Development of Products and Services: Through Big Data analytics, an organisation
can predict customer responses to changes and innovations
to existing products and services.

6. So is big data that one master
key to all 0rganisational issues?

7. Increasing the odds of success with Big Data
Organisations that want to implement big data analysis for positive
business outcomes should start with finding answers to the following
three questions:
1. How the people get what it takes to be successful in senior
positions or the qualities that people need to be successful in
executive positions?
2. When these people get there what does it take to be sure that
they are effective?
3. When they get there, would they be with you?

8. “Data should be one of the inputs, one of
the considerations for solutions but there
are other variables that should influence as
well. Over relying on data to provide you
with a projection of the future based on the
presumption that everything will remain
stable and as-is is not realistic and is risky if
taken in isolation as a solution.”
Stella Hou, Director
HR, C&A, China

9. “The number of employee referrals might
seem like an innocuous thing but reference-
ability is perhaps the truest measure of
engagement and is that one metric which
should be tracked. After all it is at the heart
of how we measure success with clients
though the Net Promoter Score
methodology.”
N.V. ‘Tiger’ Tyagarajan, President
& CEO, Genpact

10. “At present companies evaluate
effectiveness
of their HR programs with lag measures.
Analytics is moving from focus on lag
measures to lead measures that will help us
predict the future.”
Y.V.L. Pandit, Managing Director,
SHL India

11. “Organisations need to move out of the
mindset of growth reliant on productivity
and process because productivity gaps still
remain even if people put their best efforts
in a perfectly adequate process
environment.”
Eugene Berke, Chief Science &
Analytics Officer, SHL

12. To read the complete story click here ‘The God of Big Things’

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