With innovations in Business Intelligence (BI), workforce management is now easier than ever. For one, it can help improve productivity as it uses machine learning to help a company make future decisions. That being said, the main question is, how exactly do we use BI in workforce management? To answer this properly, we first have to ascertain what BI is and how it works.
What Is Business Intelligence?
So, exactly what is BI? BI is the set of processes that facilitate the quick and easy obtaining of data for analysis and interpretation from business management systems. Once analyzed, they become a vital piece of knowledge for managers and decision-makers. The concept of business intelligence was introduced in the mid-1960s. Since then, it has continued to evolve into more effective solutions adapted to the new prevailing technological environment.
More so, it acts as a key and strategic factor for the organization. It provides decision-makers with timely and reliable information and analytics to respond to situations that may arise in the company. This includes cost analysis, entering new markets, or understanding a product line’s profitability, etc.
In terms of workforce management, BI allows for efficient hiring, adds greater value to products and services, helps you make smarter and faster decisions, and gives you more insight into employee happenings. The benefits are vast. Now that we’ve looked at what BI is let’s see how it’s used to improve workforce management.
Facilitates Continuity in Information Sharing.
HR work can be stressful sometimes. To find a piece of information, you have to sift through lots of data. Thanks to new technology and innovation, everything is made easy now. Business Intelligence makes the dissemination of accurate data fast and hassle-free.
However, to ensure your company properly implements an effective Business Intelligence strategy, you’ll first need a sound Human Resource Information System (HRIS). It’ll provide the primary HR functions for workforce management. One good example is the one found on Arcaro. In fact, you can view Arcoro’s guide here.
An HRIS system like this simplifies the work for HR managers and increases optimization. It also tracks and processes employee responsibilities to enhance operations. What’s more, as a BI tool/HR software, it also helps with predictive analysis. All in all, you have more significant insights so that you can tally your payroll, employee incentives, employee benefits, employee engagement, attendance, schedules, and recruitment information.
Facilitates An Efficient Hiring Process.
No doubt, BI applications reduce workload for an easy workflow and simple hiring process. Managers simply need to add all the required variables of an applicant, and the system will combine all the information and sort the most qualified candidate among the lot.
Effectively Manages Staff Leave.
BI helps make the management of staff leave easier. In many companies, the staff is entitled to a few days of leave each year. The number of days each person has can sometimes vary. So, as an HR manager, or administrator, you’ll likely lose count of the remaining days each employee is left with, especially if you’re recording manually. Luckily, with BI software, your system can keep track of your employees’ leave days.
Helps You Keep Staff Informed.
If your HR department processes lots of data every day, it’s normal to neglect other vital aspects of workforce management. This is when BI comes in handy again. With BI, keeping your employees informed of all the company’s dealings doesn’t have to be tedious and boring. BI systems work like a data warehouse and can help you send precise information to staff. Certainly, HR managers will now have more time on their hands to meet deadlines, take strategic business decisions, and focus on other projects.
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