Big Data and the Bottom Line

The Fiscal Times recently ran a piece, “Why This Nerd Has the Sexiest Job in Science,” detailing the coming prevalence of data scientists as, “the sexy job of the next 10 years.” Source  The ability to merge science, analytics, and the bottom line leads to a capable and select talent pool with a demand currently outpacing the supply.   Firms have seen successes in big data applications like Billy Beane’s Oakland Athletics or Nate Silver’s US Presidential Election forecasting and will look to do the same with their fiscal performance.

HR leadership will look to big data to fulfill gaps and needs in the talent economy, utilizing human capital analytics to measure and identify bottom line talent analytics, predictive talent models, performance management and workforce planning.  Big Data for HR is not a question of ‘if’ but of ‘when.’  Josh Bersin completed a great article which is worth reviewing on this very topic in November, but comes to a slightly different conclusion regarding the need for data scientists.  Bersin feels that the technology can do the heavy lifting and all HR will need is analysts with a strong sense of curiosity, since most HR analytics can be done in Excel or traditional database software.

HR leaders will need to both become familiar with Big Data as a topic and as a talent pool to remain competitive in the coming years.  Join HCI February 26, 2013 for the webcast, Leadership Succession across the Organization, and hear the Director of Leadership & Employee Development at Covance and thought leader, Rhonda Holler, discuss how to utilize integrated data analysis to better assess the leadership pipeline and discuss strategies to identify both pitfalls and developmental opportunities.