Mark Cuban coined the phrase, “data is the new gold”, and it’s certainly true that we’re living in an age where evidence & insight are prevalent across so many industries.
The big challenge for many of course, is not the volume of data we have in our working lives; it’s understanding how to aggregate and make sense of it, and perhaps most importantly how to get “insight” in the right place at the right time. Data is only as good as the people who interpret it to make decisions – and this applies whether you are looking at customers, employees or indeed the wider working world. And I hardly need to mention that getting this analysis and the decisions that flow from it wrong is a risky business!
Right across the HR and Recruitment sectors we’re now seeing a mainstream revolution. The People Analytics industry is set to be worth $2.5bn by 2020. So, the question I ask myself is how do we make this journey less painful? How do we “democratise data”, putting the highly useful intelligence in the hands of individuals and businesses to help them solve real business & societal challenges?
My conclusion is actually pretty simple.
And that’s exactly what we’re doing at Emsi and why we partnered with the Recruitment & Employment Confederation. We genuinely want to help people make better decisions about the world of work and their own careers, and so putting data in the hands of more than 3,000 businesses (at no cost) seemed like the right thing – and hopefully a great thing – to do! We’d be delighted of course if this results in some further work for us in the sector, but regardless, we just hope the data we’ve compiled helps a multitude of organisations make some seriously smart decisions about their future.