What is Business Intelligence in HR and the Need to Use It?

Shefali Vasave | January 18, 2022 | 167 views

Making quick decisions backed by well-informed insights and data is a feature of today’s dynamic market. For forward-looking organizations, it’s what gives them the ability to adapt to evolving market conditions. It’s imperative for businesses to have a thorough understanding of their operations to be able to make quick changes and align themselves with a concrete human resources strategy.

Without an insight into their operations, the challenges employees face, the skill gaps in their organizations and the bottlenecks that need to be navigated, organizations risk losing their competitive edge. This is where business intelligence in HR comes in.


What is Business Intelligence Software?

Business intelligence is an umbrella term that includes the processes, technologies, and related software that help organizations answer questions about their operations.

Business intelligence software is software that collects data from different sources, analyzes it, and then provides insights about business operations.

There are many different types of BI software available, but all of them have one thing in common: they are used to better understand the business.

Businesses can use BI software to make better decisions faster. They can find out what product is the most profitable, which customers provide the most value for their company, or how much time is wasted on tasks that don't need to be done at all. In the case of human resources, business intelligence can help shape HR decisions and deliver analytics and reports that yield valuable insights for the human resources department.

Improving Your Organization’s Efficiency With Business Intelligence Software

Effective decision-making is the key to success in the business world. One of the most effective ways to help you do just that is by incorporating business intelligence into HR. By using BI, you'll be able to collect meaningful data on your organization's operations and then analyze them to create reports on what's working and what needs improvement.

The best way to benefit from business intelligence is to integrate BI tools with other systems in the organization. Companies should also have a strategy for handling data and how it is going to be used before they start implementing BI tools into their daily work. After all, it is the input of accurate data that will produce efficient and actionable insights.

For instance, Geico, a leading insurance provider in the U.S., used business intelligence to increase its recruiting effectiveness by 15%. Geico’s stringent recruiting process was missing the visibility and control that HR managers needed to hire better. With business intelligence software that integrated with Geico’s existing HR systems, the company was able to reduce the time from requisition to hire. They were also able to identify a better candidate source for hiring new candidates.


Top Benefits of Using BI Tools for Organizations

Data Understanding

The top benefit to organizations is the ability to understand their employee data. Having a visual representation of employee data in a BI tool can help people connect the dots in their data, and be able to see patterns that they were not aware of before. For instance, HR managers can review absenteeism data and identify patterns around certain days of the week or the most common reasons for leaves. This can help inform their leave policy decisions and benefit from business intelligence in the long run.


Customized Dashboards

Many organizations use BI software to create customized dashboards, which can help HR managers keep an eye on the latest data about their hiring process. Whether they're tracking the number of new hires, retention rates, or the amount of time it takes for new hires to be onboarded, managers can use these dashboards to refine their human resources strategy.

“The more personal we can make the experience, the more value both the individual and the organization will achieve.”

- Scot Marcotte, Chief Technology Officer at Buck

Analyzing the Performance of Different Teams

Business intelligence solutions are extremely useful for organizations with multiple teams. Each team can have their own BI tool so that they can check on the performance of their project at any given time without bothering other teams.


Improved Business Processes

BI tools allow organizations to improve their business processes by getting a better understanding of what is going on at any given moment. Process improvements can be achieved by implementing solutions that give insight into what is happening, and help organizations identify and take corrective actions for any anomalies that may occur.

Choosing the Best Business Intelligence Solution

Most organizations are under pressure to improve their decision-making processes. Business intelligence solutions can help organizations better understand current business conditions and make better decisions.

Choosing the best business intelligence solutions for your company can be an overwhelming task. There are many different software packages to choose from that span core BI functions like data mining, dash boards, data visualization, and reporting. Here are just some you can consider:

Tableau is a self-service analytics software that provides tools to visualize data. It seamlessly integrates with a variety of cloud analytics tools like Microsoft Azure, SQL Data Warehouse, and Excel.

Qlik provides a comprehensive and scalable business intelligence solution. Its main function combines data visualization, analytics, and BI.

Domo is a cloud platform that provides BI tools that are customized for every industry, including financials, healthcare, manufacturing and more.
Splunk: It offers an enterprise-level business intelligence platform with data analytics capabilities.

Einstein Analytics, launched by Salesforce.com, is a platform that is a tech giant’s AI-powered solution for business intelligence.


Conclusion: The Impact of Business Intelligence

Businesses can benefit from business intelligence in many ways. If you are a company that has many different departments and locations, business intelligence can help you to know which department or location is doing well and which ones might need some improvement.

Businesses can also use business intelligence for data mining or predictive analytics. These two processes will help businesses find trends in their data so they can take action before the trend becomes a problem.

A recent study by PWC found that businesses are increasingly using BI tools to make informed decisions. The study also found that more than two-thirds of the respondents have been using BI for over five years now.

Business intelligence is essential for HR departments as well. It helps inform HR decisions with data-driven insights and understand the needs of their employees better. With the business world becoming more unpredictable, BI will only help organizations and especially the human resources department, use data in a meaningful and efficient way.

Frequently Asked Questions


How does business intelligence in HR help companies?

Business intelligence in HR helps companies by providing them with insights into how their employees are performing. The insights can be used to measure performance and identify areas where improvement may be necessary.


What are the different types of tools used for BI in HR?

HR analytics tools are the most popular type of BI tool used in HR. They are usually designed to help with workforce planning, talent management, and employee productivity. HR data visualization tools are mostly used by managers to make sense of large amounts of data that they may not have the time or knowledge to analyze on their own. They use these types of tools for things like analyzing company demographics, tracking performance metrics, and evaluating employee engagement levels. HR dashboard tools are another type of BI tool that is mostly used by managers to get a quick snapshot of what's happening in their department at any given time.


What are the key drivers of BI in HR?

There are many factors that drive business intelligence in HR. The key drivers of BI in HR are:
  • Firms want to know what is happening with their employees and how to take action on it
  • The need for more compliance and security
  • The need for better insights into the employee experience
  • The need for better analytics and reporting

Spotlight

Talent Orchard LLC

Talent Orchard LLC is a full service talent acquisition and human capital services provider with a series of offerings designed to meet the varying needs to Federal Contractors, Government Agencies and emerging to mid-market fast growth companies in the private sector. We are a team of smart and dedicated consultants who are passionate about the work we do and the clients we serve.

OTHER ARTICLES
TALENT MANAGEMENT, HR STRATEGY, RECRUITMENT & RETENTION

Revisiting 2022 in the HR Space: Tips for Creating a Healthy Workplace

Article | August 2, 2022

Contents 1 Create Psychological Safety 2 Drive Recognition 3 Make Communications Clear Companies cannotafford to take the role of a flourishing workplace lightly. A setting conducive to productivity and creativity can propel overall performance and deliver tangible results that directly impact the bottom line. A discussion about a healthy workplace would be incomplete without addressing the dangers of a toxic one. According to a study by Wiley Edge, 40% of employees leave their jobs due to a toxic work culture. A collaborative study by Workhuman and Gallup on wellbeing in the workplace found that poor wellbeing manifests itself in the workplace in the form of employee burnout, high turnover, and low productivity. This costs organizations more than $322 billion worldwide. One way organizations can build a better workplace environment is with performance management. Here are some areas to focus on in employee performance management. 1. Create Psychological Safety When employees feel mentally and psychologically safe in their workplace, they get an impetus to contribute more, share their ideas, voice their opinions, and participate in more meaningful ways. Organizations must reinforce employee wellbeing by creating a safe environment that makes employees feel seen and heard and fosters a sense of acceptance in the workplace. 2. Drive Recognition Recognizing employees for their workand contribution significantly contributes to emotional wellbeing in the workplace. It signifies that the organization values the employee and it gives them the incentive to not only work better but stay longer. Organizations must make employee recognition and gratitude integral to the DNA of the work culture. It enhances engagement and makes for an enriching employee experience in the workplace. 3. Make Communications Clear Keeping clear lines of communication between employees and their leaders promotes a culture of transparency. A lack of clarity can create undue uncertainty and conflict. When employees get honest feedback and their role is clearly communicated to them, it enables successful completion of projects and a feeling of accomplishment for the employees. At the end of the day, employees should feel incentivized to show up and do their best at work every day. Promoting employee wellbeing is not a one-time activity but something that needs to be consistently done and mapped. This ensures your employees will succeed, which will translate into success for your organization.

Read More
HR STRATEGY

Listen and act: how to get employee experience management right

Article | January 19, 2022

As the science behind employee engagement evolves, it’s become clear just how much businesses can gain from a happy and involved workforce. From improved performance, to reduced attrition, increased revenue and even a better customer experience, employee engagement is at the heart of business growth. Given these benefits, it’s no surprise that the role of HR departments is moving beyond just managing people and towards managing experiences.

Read More
WORKFORCE MANAGEMENT, HR STRATEGY

5 Things HR Can Do To Improve Employee Output

Article | December 7, 2022

Employees are companies most valuable asset – Without the talent, knowledge and expertise those employed bring to an organisation, it’s safe to say that the business world would be a very different landscape. Human Resources is often held responsible for owning the employee value strategy, where we’re now embracing tremendous improvements in how the value that employees bring, can be achieved. Here we’ll explore how data analysis, learning & development, employee engagement, 360 feedback and flexibility all offer a significant opportunity to improve employee output within every organisation in 2020.

Read More

6 Reasons To Invest In Employee Onboarding In Your Organization

Article | February 10, 2020

You never get a second chance to make a first impression. This holds particularly true when it comes to employee onboarding. It's a new hire's introduction to the organization and the experience has a significant impact on employee retention. Unfortunately, that's why it's rare to see many employees with years of tenure. Research by Future Workplace found that 91% of Millennials expect to stay in a job for less than 3 years. Companies lose 25% of all new employees within the first year, according to SHRM, but almost 70% of employees are more likely to stay with a company for 3 years if they experienced great onboarding.

Read More

Spotlight

Talent Orchard LLC

Talent Orchard LLC is a full service talent acquisition and human capital services provider with a series of offerings designed to meet the varying needs to Federal Contractors, Government Agencies and emerging to mid-market fast growth companies in the private sector. We are a team of smart and dedicated consultants who are passionate about the work we do and the clients we serve.

Related News

WORKFORCE MANAGEMENT, HR STRATEGY

Enboarder Platform Integrates Equifax Workforce Solutions for Onboarding Enhancement

Enboarder and Equifax Workforce Solutions | January 27, 2023

On January 26, 2023, Enboarder, a leading workflow and employee communication platform, announced its strategic alliance with Equifax Workforce Solutions, to bring I-9 management and Work Opportunity Tax Credit (WOTC) management features to its platform. The integration addresses the need of the employees to adhere to federal, state and county regulations as well as for human connection at the time of onboarding. It will also provide personalized onboarding experiences to improve employee engagement. The integration will enable Enboarder’s customers to empower their new hires to fill the USCIS Form I-9 from beginning to end, on any device, nearly from anywhere. Similarly, they can recognize the eligible employees for WOTC and gain more tax credits for their businesses. Brent Pearson, Founder and CEO of Enboarder, said, "The ability to create strong, authentic connections among employees is the foundation of success for any business and it starts with the onboarding journey." He added, "Through our partnership with Equifax, our customers can more easily manage the historically time-consuming and paperwork-heavy side of onboarding, allowing them to focus more on what matters most: helping new hires build relationships and a support network from day one." (Source – Cision PR Newswire) Joe Muchnick, Senior Vice President of Employer Services and Talent Solutions at Equifax Workforce Solutions, said, "People expect their digital interactions to be fast, simple and easy. That's why this partnership is a natural fit: it helps HR leaders more seamlessly deliver an industry-leading I-9 and WOTC experience from Equifax through the Enboarder platform that their companies are already using. That means an enhanced employee experience – and a reduced administrative burden on HR." (Source – Cision PR Newswire) About Enboarder Enboarder is a leading employee communication and work management platforms, which enhances human connections through the entire employee journey for companies of all sizes. The company’s platforms have revolutionized human resource programs and onboarding processes, and inspires employees to engage with the programs, information, and create connections across every stage. It delivers personalized, efficient, and precise content on the chosen communication channel. As a result, it makes connections act at right time. About Equifax Workforce Solutions Equifax is a leading employer services firm providing information, expertise, and HR solutions for the organization's needs. Its verification services and flagship, The Work NumberⓇ database helps to take accurate decisions for national consumers. It helps make Onboarding paperwork easier to finish, including faster I-9 fillings, digital tracking, and employee verification.

Read More

TALENT MANAGEMENT, TALENT ACQUISITION

SilkRoad Technology Completes Two-way Integration of Talent Acquisition Solution

SilkRoad Technology | February 01, 2023

On January 31, 2023, the world-class talent acquisition leading company SilkRoad announced the completion of its two-way integration between its tracking system applications, Recruiting and candidate sourcing solution, Search. The integration further creates the first true talent acquisition end-to-end solution starting from the source to hiring to retirement all from one vendor, which is a first in the software category for managing human capital. In 2022, SilkRoad announced that the candidate sourcing and recruitment marketing features of Entelo would be added to its technology solution. As a result of the integration, SilkRoad customers will be able to use software and services built on deep domain expertise, strategic consultation, and delivery to power their talent acquisition strategy. RedCarpet and SilkRoad Recruiting Onboarding have a smooth integration that begins at offer acceptance. With the combination of skills and capabilities, enterprise organizations can find, reach, engage, and convert skilled talent, especially from underrepresented groups. The only solution, that enables clients to build competitive, strategic pipelines and deliver top-notch candidate-to-new-hire experiences, Silkroad provides services which will eventually be needed by all enterprises as we navigate one of the most dynamic talent economies in current times. This is the first version of a next-generation AI-driven talent acquisition platform where the teams responsible for recruiting can access every candidate they need in their ATS. From there, SilkRoad will automatically build talent pools and engage candidates with branded multi-touch nurture campaigns to raise awareness and increase conversions. This will let recruiters use high-tech tools to find candidates more quickly and make many more personal efforts to build better relationships with them. About SilkRoad Technology SilkRoad Technology is a talent management software provider based in Chicago (Illinois), and helps organizations attract, retain, and align people to their businesses. The company provides Global Client Services solutions to strategic HR and business expertise. Founded in 2003, it designs secure solutions that fit the needs of businesses on a global scale. In addition, it gives employees personalized experiences to keep them engaged throughout their employment and to help the company achieve better and more measurable results.

Read More

HR ANALYTICS,HR STRATEGY

YourCause® from Blackbaud® Recognized as a Top Ten HR Technology Solution by CIOReview

YourCause from Blackbaud | December 13, 2022

Blackbaud, the world's leading cloud software company powering social good, is pleased to announce that CIOReview, a technology magazine, has recognized YourCause from Blackbaud as a top 10 provider for employee engagement solutions in their Human Resources (HR) Technology edition. The annual edition of the publication helps business leaders review the most noteworthy technology that is transforming the employee culture ecosystem. "Companies use YourCause software to connect their employees to each other across borders and to the causes they care about, Consumers, the community and employees expect companies to deliver meaningful and measurable social impact. We're here to help companies make it possible—in a bigger way than ever before—with the corporate impact solutions we have to offer from both YourCause and EVERFI." -Brandon Sharett, president and general manager, YourCause from Blackbaud Successful employee engagement programs are essential to building workplace culture. The 2022 Gallup State of Global Workforce report shows a disengaged global workforce causes a $7.8 trillion loss in productivity per year. A company's corporate social responsibility (CSR) initiatives actively contribute to employee belonging by deploying giving, volunteering and grantmaking tactics that can support the nonprofit community near and far, as well as their own employees through specialized relief programs. Blackbaud's YourCause portfolio helps companies engage and retain employees, build a strong workplace culture and deliver on their socially responsible missions while connecting them to the largest global charity database of vetted nonprofits. The employee engagement solution provides features for giving, volunteering, virtual employee resource groups and peer-to-peer fundraising, while the corporate grant platform helps companies streamline programs for community investment, scholarships or employee assistance funds. While EVERFI® from Blackbaud® helps companies deliver social impact through digital education that drives measurable change on societal issues in their communities. Together YourCause and EVERFI offer the market's most comprehensive and scaled portfolio for corporate impact driven by two essential levers: engagement and education, What makes it so powerful is that we connect companies to the market's most robust network of causes and schools, equip them with proven expertise, and help them grow their impact through rich data and reporting,said Tom Davidson, Founder and CEO of EVERFI from Blackbaud. CIOReview's annual HR Technology edition is compiled through nominations from its 97,000+ subscribers. Companies nominated are selected by a panel of industry experts and CIOReview's editorial team, resulting in a vetted list of HR technology vendors that are creating innovative solutions shaping the future of talent management. About Blackbaud Blackbaud (NASDAQ: BLKB) is the world's leading cloud software company powering social good. Serving the entire social good community—nonprofits, higher education institutions, K–12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations, companies and individual change agents—Blackbaud connects and empowers organizations to increase their impact through cloud software, services, expertise and data intelligence. The Blackbaud portfolio is tailored to the unique needs of vertical markets, with solutions for fundraising and CRM, marketing, advocacy, peer-to-peer fundraising, corporate social responsibility (CSR) and environmental, social and governance (ESG), school management, ticketing, grantmaking, financial management, payment processing and analytics. Serving the industry for more than four decades, Blackbaud is a remote-first company headquartered in Charleston, South Carolina, with operations in the United States, Australia, Canada, Costa Rica and the United Kingdom.

Read More

WORKFORCE MANAGEMENT, HR STRATEGY

Enboarder Platform Integrates Equifax Workforce Solutions for Onboarding Enhancement

Enboarder and Equifax Workforce Solutions | January 27, 2023

On January 26, 2023, Enboarder, a leading workflow and employee communication platform, announced its strategic alliance with Equifax Workforce Solutions, to bring I-9 management and Work Opportunity Tax Credit (WOTC) management features to its platform. The integration addresses the need of the employees to adhere to federal, state and county regulations as well as for human connection at the time of onboarding. It will also provide personalized onboarding experiences to improve employee engagement. The integration will enable Enboarder’s customers to empower their new hires to fill the USCIS Form I-9 from beginning to end, on any device, nearly from anywhere. Similarly, they can recognize the eligible employees for WOTC and gain more tax credits for their businesses. Brent Pearson, Founder and CEO of Enboarder, said, "The ability to create strong, authentic connections among employees is the foundation of success for any business and it starts with the onboarding journey." He added, "Through our partnership with Equifax, our customers can more easily manage the historically time-consuming and paperwork-heavy side of onboarding, allowing them to focus more on what matters most: helping new hires build relationships and a support network from day one." (Source – Cision PR Newswire) Joe Muchnick, Senior Vice President of Employer Services and Talent Solutions at Equifax Workforce Solutions, said, "People expect their digital interactions to be fast, simple and easy. That's why this partnership is a natural fit: it helps HR leaders more seamlessly deliver an industry-leading I-9 and WOTC experience from Equifax through the Enboarder platform that their companies are already using. That means an enhanced employee experience – and a reduced administrative burden on HR." (Source – Cision PR Newswire) About Enboarder Enboarder is a leading employee communication and work management platforms, which enhances human connections through the entire employee journey for companies of all sizes. The company’s platforms have revolutionized human resource programs and onboarding processes, and inspires employees to engage with the programs, information, and create connections across every stage. It delivers personalized, efficient, and precise content on the chosen communication channel. As a result, it makes connections act at right time. About Equifax Workforce Solutions Equifax is a leading employer services firm providing information, expertise, and HR solutions for the organization's needs. Its verification services and flagship, The Work NumberⓇ database helps to take accurate decisions for national consumers. It helps make Onboarding paperwork easier to finish, including faster I-9 fillings, digital tracking, and employee verification.

Read More

TALENT MANAGEMENT, TALENT ACQUISITION

SilkRoad Technology Completes Two-way Integration of Talent Acquisition Solution

SilkRoad Technology | February 01, 2023

On January 31, 2023, the world-class talent acquisition leading company SilkRoad announced the completion of its two-way integration between its tracking system applications, Recruiting and candidate sourcing solution, Search. The integration further creates the first true talent acquisition end-to-end solution starting from the source to hiring to retirement all from one vendor, which is a first in the software category for managing human capital. In 2022, SilkRoad announced that the candidate sourcing and recruitment marketing features of Entelo would be added to its technology solution. As a result of the integration, SilkRoad customers will be able to use software and services built on deep domain expertise, strategic consultation, and delivery to power their talent acquisition strategy. RedCarpet and SilkRoad Recruiting Onboarding have a smooth integration that begins at offer acceptance. With the combination of skills and capabilities, enterprise organizations can find, reach, engage, and convert skilled talent, especially from underrepresented groups. The only solution, that enables clients to build competitive, strategic pipelines and deliver top-notch candidate-to-new-hire experiences, Silkroad provides services which will eventually be needed by all enterprises as we navigate one of the most dynamic talent economies in current times. This is the first version of a next-generation AI-driven talent acquisition platform where the teams responsible for recruiting can access every candidate they need in their ATS. From there, SilkRoad will automatically build talent pools and engage candidates with branded multi-touch nurture campaigns to raise awareness and increase conversions. This will let recruiters use high-tech tools to find candidates more quickly and make many more personal efforts to build better relationships with them. About SilkRoad Technology SilkRoad Technology is a talent management software provider based in Chicago (Illinois), and helps organizations attract, retain, and align people to their businesses. The company provides Global Client Services solutions to strategic HR and business expertise. Founded in 2003, it designs secure solutions that fit the needs of businesses on a global scale. In addition, it gives employees personalized experiences to keep them engaged throughout their employment and to help the company achieve better and more measurable results.

Read More

HR ANALYTICS,HR STRATEGY

YourCause® from Blackbaud® Recognized as a Top Ten HR Technology Solution by CIOReview

YourCause from Blackbaud | December 13, 2022

Blackbaud, the world's leading cloud software company powering social good, is pleased to announce that CIOReview, a technology magazine, has recognized YourCause from Blackbaud as a top 10 provider for employee engagement solutions in their Human Resources (HR) Technology edition. The annual edition of the publication helps business leaders review the most noteworthy technology that is transforming the employee culture ecosystem. "Companies use YourCause software to connect their employees to each other across borders and to the causes they care about, Consumers, the community and employees expect companies to deliver meaningful and measurable social impact. We're here to help companies make it possible—in a bigger way than ever before—with the corporate impact solutions we have to offer from both YourCause and EVERFI." -Brandon Sharett, president and general manager, YourCause from Blackbaud Successful employee engagement programs are essential to building workplace culture. The 2022 Gallup State of Global Workforce report shows a disengaged global workforce causes a $7.8 trillion loss in productivity per year. A company's corporate social responsibility (CSR) initiatives actively contribute to employee belonging by deploying giving, volunteering and grantmaking tactics that can support the nonprofit community near and far, as well as their own employees through specialized relief programs. Blackbaud's YourCause portfolio helps companies engage and retain employees, build a strong workplace culture and deliver on their socially responsible missions while connecting them to the largest global charity database of vetted nonprofits. The employee engagement solution provides features for giving, volunteering, virtual employee resource groups and peer-to-peer fundraising, while the corporate grant platform helps companies streamline programs for community investment, scholarships or employee assistance funds. While EVERFI® from Blackbaud® helps companies deliver social impact through digital education that drives measurable change on societal issues in their communities. Together YourCause and EVERFI offer the market's most comprehensive and scaled portfolio for corporate impact driven by two essential levers: engagement and education, What makes it so powerful is that we connect companies to the market's most robust network of causes and schools, equip them with proven expertise, and help them grow their impact through rich data and reporting,said Tom Davidson, Founder and CEO of EVERFI from Blackbaud. CIOReview's annual HR Technology edition is compiled through nominations from its 97,000+ subscribers. Companies nominated are selected by a panel of industry experts and CIOReview's editorial team, resulting in a vetted list of HR technology vendors that are creating innovative solutions shaping the future of talent management. About Blackbaud Blackbaud (NASDAQ: BLKB) is the world's leading cloud software company powering social good. Serving the entire social good community—nonprofits, higher education institutions, K–12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations, companies and individual change agents—Blackbaud connects and empowers organizations to increase their impact through cloud software, services, expertise and data intelligence. The Blackbaud portfolio is tailored to the unique needs of vertical markets, with solutions for fundraising and CRM, marketing, advocacy, peer-to-peer fundraising, corporate social responsibility (CSR) and environmental, social and governance (ESG), school management, ticketing, grantmaking, financial management, payment processing and analytics. Serving the industry for more than four decades, Blackbaud is a remote-first company headquartered in Charleston, South Carolina, with operations in the United States, Australia, Canada, Costa Rica and the United Kingdom.

Read More

Events