People data, also known employee data, can be defined as datasets describing people in organizations. People data is information and insight that an organization has available on its various pools of people collected from any one of their system such as HRIS, payroll, benefits, workforce management system or talent management system.
What are the Benefits of People Data?
Organizations already hold a vast amount of people data to start analyzing and tying to business metrics. Consistently accurate people data improves cost management, eliminating hidden expenditures and facilitating trustworthy company-wide insights that can drive the business. By simplifying your data and taking charge of the processes around it, you can liberate your organization to do a wealth of things successfully.
One of the great advantages of an organically built talent management system is the unified data model across the employee lifecycle that lies under the surface. With Cornerstone, you can access talent data from all of your talent management processes seamlessly from one source. With Cornerstone Analytics Suite, organizations get sophisticated technology including the power of predictive analytics, to gain deep insights about their talent. As a result, organizations can have healthier leadership pipelines, improved innovation and higher returns.