Cornerstone OnDemand Launches Suite of People Analytics Products
May 9, 2016
Cornerstone OnDemand Launches
Suite of People Analytics Products
New analytics applications apply sophisticated data science and machine learning to help organizations more efficiently and effectively manage their people
SANTA MONICA, Calif. — May 10, 2016 — Cornerstone OnDemand (NASDAQ:CSOD), a global leader in cloud-based talent management software solutions, today announced the launch of its suite of people analytics products, all of which are available today. This includes the introduction of Cornerstone View, an interactive data visualization application that gives business leaders deeper intelligence about their people, as well as Cornerstone Planning, an intuitive workforce planning application that helps organizations easily create, manage and execute accurate hiring plans over multiple time horizons. The company also added two new dashboards to Cornerstone Insights, its predictive and prescriptive analytics solution that equips business leaders with the intelligence to better recruit, train, manage and develop their people
Cornerstone’s portfolio of analytics offerings applies sophisticated data science and the most refined machine learning system for talent management to help organizations harness the power of real-time people data. The Cornerstone Analytics suite is built on top of the world’s largest network of shared talent data, representing more than 16 years of workforce management activity across 25 million users globally, nearly 2,700 organizations across all industries and seven talent management dimensions –recruiting, onboarding, training and development, performance management, compensation management, succession planning and workplace collaboration.
By unlocking four types of data analytics – descriptive, diagnostic, predictive and prescriptive – Cornerstone enables organizations to make smarter, data-driven talent decisions and maximize business objectives through their people, removing the reliance on guesswork and intuition. The Cornerstone Analytics suite also includes Cornerstone Reporting, a set of self-service reporting tools and visually rich dashboards, allowing for complete control of, and visibility into, Cornerstone system data.
New Ways to Unlock the Value of Workforce Data
The new additions to Cornerstone’s analytics suite give organizations even more options for viewing, understanding and acting on talent data across the entire employee lifecycle.
- Cornerstone View. Cornerstone View provides the fastest and simplest way for organizations to gain more meaningful insight into their employees and solve complex workforce issues. Interactive data visualization tools allow managers to easily search, filter and compare people by centralizing information from across the Cornerstone unified talent management suite. For example, users can find the right candidate to fill a position, select high potential employees for succession, and quickly compare succession metrics and performance reviews across select employees to reveal meaningful insights about talent pools. Filters also allow for a snapshot of employees across multiple categories such as location, division, performance and tenure.
- Cornerstone Planning. With Cornerstone Planning, organizations can improve the effectiveness of their workforce planning, from filling positions quickly and effectively, to hiring employees with the right skills to succeed. Users can easily create, manage and execute accurate headcount plans through a simple and intuitive design. Cornerstone Planning also helps users align finance budgets with HR’s workforce plan to generate forecasts, visualize cost impact and identify future talent gaps for meeting business goals. In addition, users can prepare and plan for company challenges, resource availability and goal achievement.
- Cornerstone Insights. Cornerstone Insights offers a variety of dashboards that help organizations discover actions for optimizing talent processes, simulate scenarios to view the impact of these actions and make prescriptive recommendations to address specific business challenges. The new Career Mobility Insight dashboard helps managers gain a better understanding of both traditional and non-traditional career path movement and the factors that contribute to optimal career mobility. The new Learning Optimization Insight dashboard identifies factors and simulates actions that drive course registrations and completions.
Comments on the News
“With our refined machine learning technology and massive data set, Cornerstone leads the field in people analytics,” said Adam Miller, founder and CEO of Cornerstone OnDemand. “We’re bringing the powerful data science models to the world of HR that mega industries such as retail, finance and energy rely on to make the smartest decisions possible. Our clients now have access to four distinct analytics applications that will help them to make smarter, more strategic and more informed talent decisions.”
“The volume and variety of talent data are growing exponentially, and the velocity at which this is happening is tremendous,” said Jason Corsello, vice president of strategy and corporate development for Cornerstone OnDemand. “With our workforce analytics offerings, we remove the barriers for organizations who want to answer important talent management questions but aren’t quite sure where to start. We are helping them to take the power of big data from insights to action.”
“Enterprises stand to benefit greatly by employing powerful analytics solutions backed by data science and machine learning for managing and fostering talent, helping them make more objective decisions, and saving precious time,” said Holger Mueller, principal analyst and vice president at Constellation Research. “Business leaders require the tools to make data-based decisions on whom to hire, simulate headcount plans and get recommendations to address challenges. Vendors who focus on workforce analytics are making a difference in the day-to-day lives of HR decision makers.”