Minneanalytics Version of Ecosystems and People Analytics

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Ecosystems and Analytics

• Definitions• The Umbrella• State of the Industry• The Unknown• The Risks• Moving Ahead

Like A Pocket Full of Five Earbuds

Analytics

• Is the use of data to help make a decision

• Are the results of an evidence based process

• Are the result of an algorithm

Analytics Is Precursor To Metrics

Data Knowledge Insight Wisdom

Data Hypothesis Analytics Metrics

Data Questions Understanding Narrative

Analytics is the discovery and communication of meaningful patterns in data.

Metrics Are Standard Measures

State of the Market

• More Smoke, Less Fire. Calm Before The Storm• All Vendors Have an Angle• Supplemented Employee Profiles– Resumes– Social Profiles– Employee Record

• Low Awareness of Consequence• Islands of expertise in a sea of confusion

Analytics Umbrella

You’re Already Doing It

Three Approaches To Analytics

• Data First (Searching For Improvement)– 90% Data Collection and Cleaning– Limited Impact– Longer Term Utility

• Decision First (Searching For Evidence)– Question First- What’s the Issue– Targeted Data Collection –

• What Data Helps Make a Better Decision• Estimates Are Useful

• Vended Package (Analytics as Monitoring)• Workbench (None Yet)

Practitioner Gap

Fermi’s Deconstruction

Time to Hire: 40 Days from VacancyAverage Wage: $85/hrHiring Opportunity Cost: 40x8x85 = $27KCost to Hire: $6KMissed Production: $40KTotal CTH: $73K

Inside and Out

• HR is Becoming Outward Facing • Data Sources

– Internal– Ecosystem– External

• Examples– Ecosystem Talent Management– Ecosystem as Talent Buffer– Pay and Benefits Equalization

Ecosystems

Coral Is An Animal

Coral Is A System

The Unknown

Σ xactions ≤ the whole

• Unintended Consequences (Cobras)• Consequences of Measurement• Algorithm

• No Safety Monitoring/ Liability CessPool

• Do Not Adequately Understand Organizations• Do Not Adequately Understand How People Work

Politics

• Problem: Analytics Make People Wrong• Get Stakeholders Involved Early• Always Frame As an Hypothesis– Begin w/ Open Minds

• Consider Hiring a Consultant

Take Aways

• Earlier and Bigger Than You Think• Cautions Important– Not Real w/o Risk Analysis– Where’s the product safety department

• Being In At The Beginning– Let Me Give You Some Numbers– I Don’t Know. Let Me Get You An Estimate.

• Importance of Simplification• Is Analytics Lawyer Heaven?

Data & Analytics