What is Big Data and how does it relate to HR Analytics? In this video, we are covering this topic with practical, real-life examples 🌟
In a way that is easy to remember, Big Data is something that can be best described by “the 4 Vs”: Volume, Velocity, Variety, and Veracity.
Even though in terms of volume and velocity, HR data score relatively low, HR does have access to a large variety of both structured – for example employee data, pay information, and engagement scores and unstructured data, such as performance reviews and email content.
Likewise, in terms of veracity, HR data can be quite messy and rather unreliable.
Most importantly, however, HR data most definitely holds value, which, when leveraged appropriately, it can uncover workforce risks, make better people decisions and help in building a competitive advantage for the firm. But what exactly is the point of intersection between Big Data and HR analytics?
In explaining this, we touch upon the following:
💡employee turnover
💡data
💡analytics
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