People analytics, also known as talent analytics or HR analytics, refers to the method of analytics that can help managers and executives make decisions about their employees or workforce. People analytics applies statistics, technology and expertise to large sets of talent data, which results in making better management and business decisions for an organization. People analytics is a new domain for most HR departments. Companies are looking to better drive the return on their investments in people. The old approaches of gut feel is no longer sufficient.
What Are the Benefits of People Analytics?
People analytics helps organizations to make smarter, more strategic and more informed talent decisions. With people analytic, organizations can find better applicants, make smarter hiring decisions, and increase employee performance and retention.
Cornerstone’s suite of people analytics products apply sophisticated data science and machine learning to help organizations more efficiently and effectively manage their people. Cornerstone’s analytics suite give organizations options for viewing, understanding and acting on talent data across the entire employee lifecycle. This includes Cornerstone View, an interactive data visualization application that gives business leaders deeper intelligence about their people, Cornerstone Planning, an intuitive workforce planning application that helps organizations easily create, manage and execute accurate hiring plans over multiple time horizons, as well as Cornerstone Insights, its predictive and prescriptive analytics solution that equips business leaders with the intelligence to better recruit, train, manage and develop their people.