the rise of people analytics
TRANSCRIPT
The Rise of People Analytics
Diego Gomez
Vice President of Human
Capital Management
Transformation
Oracle
Copyright © 2014 Oracle and/or its affiliates. All rights reserved. |
The Rise of People Data & Analytics
Workforce LiveChicago, IL September 1st 2016
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Diego Gomez
Vice President
HCM Transformation & Thought Leadership
Agenda
Data & Analytics Overview
Research & Trends
People Analytics Movement
Barriers to Entry
How to Mobilize Your Efforts
Call to Action
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What is Big Data?
Big data is a collection of data from traditional and digital sources inside and outside your company that represent a source for ongoing discovery and analysis.
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Data Headlines
Every 60 Seconds…
350,000 Tweets Globally
72 hours of YouTube footage uploaded
216,000 Instagram Posts
204,000,000 Emails Sent
90%Of all Data was Created in the Last 2 Years
50X Expected Growth in World’s Data by 2020
Cost of Storing 1 Gigabyte has Dropped from $569 in 1992, to < 2 cents in 2015
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Source: McKinsey, Global Institute, Twitter, Cisco, Gartner, EMC, SAS, IBM, MEPTEC, QAS
Data Headlines
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• 80% of Data Growth is Video, Images, and Documents
• 420 Million Wearable, Wireless, Health Monitors
• 4 Billion Hours of Video are watched on YouTubeEach Month
• 30 Billion Pieces of Content are shared on Facebook every month
• 1 in 3 Business Leaders Don’t Trust the information they use to make decisions
• 27% of Respondents were Unsure of how much of their Data was Inaccurate
• $3.1 Trillion is estimated amount of money that poor data quality costs the US Economy per year
Source: McKinsey, Global Institute, Twitter, Cisco, Gartner, EMC, SAS, IBM, MEPTEC, QAS
Factors Driving Big Data Explosion
Digital DevicesData is Born Digital
Internet of Things (IoT)
Connected Things
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Robots and Machine Learning
Artificial Intelligence, Big Data
Factors Driving Big Data Explosion
Computer ProcessingMemory & Speed
Shifts in Consumer Behaviors
Real Time | 24-7-365 | Personalized
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Social Sharing & Collaboration
Human Generated Content
Factors Driving Big Data Explosion
Computing Power…
Connected People…
Connected Things…
Are Creating vast new
Digital & Data
Footprints
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Storage
Where Do You Put it All?
2025 – Technology Tipping Points & Societal Shifts
Tipping Points Expected to Occur by 2025
• 90% of Population Using Smart Phones
• The First Implantable Phone Available Commercially
• The First 3D Printed Car in Production
• The First robotic Pharmacist in the US
• The First AI Machine on a Corporate Board of Directors
• Driverless Cars equaling 10% of cars on US roads
• 10% of People Wearing Clothes Connected to the Internet
• 1 trillion sensors connected to the internet
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Source: Klaus Schwab, World Economic Forum, and Book The Fourth Industrial Revolution
Big Data Impact on Business
• Imperatives to Realign Strategy, Structure, Skills, Systems & Culture
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Access Store AnalyzeVisualiz
eSecure Govern
Data will be declared new class of Economic Asset
• Business that optimize their data and proactively manage it throughout the data life cycle will out perform their competition
The Results Are In…HR Organizations using People Insights & Predictive Analytics Are…
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2xMore Likely to Improve Recruiting
Efforts
2xMore likely to Improve
their Leadership Pipelines
3x More Likely
to realize cost savings
and efficiency
gains
Generating
30% Higher Stock Returns than
S &P 500 Over the last
3 years
Source: Bersin by Delotte, 2014
What’s Driving the People Analytics Movement?
New Types of Data New Tools & Tech. Deeper Insight
Structured, unstructured, open data Increased Adoption of HR
Cloud Solutions
Improved Data & Analytics Technology &
Tools
• CxO Demand for Data Driven Insights
& Decisions
• Predictive and Prescriptive
What’s Driving the People Analytics Movement?
Updates to HR Operating Models
Reskilling HR
Transforming +/or Updating HR Operating
Models
Business needs to Reskill HR Function with
Enhanced Capabilities
Roadblocks for HR Organizations
Governance Scattered Data
Data Quality
Stakeholder Alignment
Data Security
Team & Capabilities Data Culture
Legacy Technology & Tools
How to Mobilize Your People Analytics Capabilities
• Establish Your Team Purpose and Clear Vision of Future
• Establish Future Organization Design
• Focus on Business Outcomes & Measure What Matters
• Cultivate a Data Driven Culture – Mindset & Habits
• Acquire and Invest in Analytics Team with Balance of Skills
• Invest and Jump Start capabilities through Cloud Technology
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Only Oracle Delivers a Modern Cloud
Complete One Cloud for Your Entire Business
Easily Change Your Cloud Experience
Unified, Actionable Information You Can Trust
Connect Your Business, Connect Any Person, Any Thing
Embassy Grade Security and Compliance
Data Driven
Personalized
Connected
Secure
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Your Competition
• 4,500 Companies have employees focused on People Analytics
• 43% of Fortune 100 have People Analytics Teams
• 55% of all People Analytics functions have been started within the last 5 years
• 70% of all People Analytics functions only have 1-2 team members
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Source: LinkedIn. Estimates based on member reported job titles and skills
To what extent is your company Ready for the People Analytics
Movement?