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Using your most valuable asset to retain your least available resource

Nadhan on ‎03-21-2013 05:47 AM

If you read the Open Letter to Enterprise IT from Big Data, it will become very clear — very quickly — that information is the most valuable asset within an enterprise. Doug Laney, VP of Research at Gartner, and the originator of this concept, would agree. That being said, enterprises must determine how and where they use this data. The return on information is best realized by using data that matters with the right resources. Eric Siegel, a former assistant professor of computer science at Columbia University and author of The Power to Predict Who Will Click, Buy, Lie or Die characterizes human resources as the scarcest resource in any company. I agree. How about if enterprises had a way to grade the likelihood that individual workers would leave the company?


Big Data and Human Resource.png


This is exactly what Joel Schetman is discussing in his article titled HP Piloted Program to Predict Which Workers Would Quit in the Wall Street Journal’s CIO Journal. Enterprises can track and monitor the availability of human resources today and in the future.


President Obama's campaign used such techniques, enabled by the Vertica Analytics platform, to better understand the mindset of its voter base and take actions accordingly. This exercise required the campaign to become intimately familiar with the preferences and behavior of various constituents. But employees within an enterprise represent a healthy pool of resources that constantly accumulate data every work day.


Infonomics — the principle of applying economics to the most valuable asset — must really begin at home. The value of information increases exponentially if it is used with the right context in retaining and growing the scarcest resource.


The HP study opens up the possibility of enterprises taking proactive steps to retain and grow their employee ranks, based on their current accomplishments and future intentions. Enterprises are already positioned to take measures to recognize employees for their current and past accomplishments. However, it’s also important for enterprises to factor in the possibility of impending attrition when establishing such measures.


Social media provides enterprises fantastic mechanisms to know what their customers want – bear in mind, employees are customers too. If enterprises create an environment that fosters healthy interactions in social media within the enterprise, they can use techniques like those outlined by Siegel in his book and those used by HP Senior Fellow, Bernardo Huberman to predict the employee behavior in the future.


You may very well have made future career plans, but it would be interesting to see what the data scientists in your enterprise have to say if they use the data they’ve collected about you. I would be interested in what they have to say about what I may be doing regardless of what my plans are!


Perhaps a discussion with my colleague Susan is in order – but wait a minute, our data scientists may have deeper insight into what her plans are than she does herself — using the analytical techniques highlighted by Schetman.


How about you? What are some other ideas to focus on the retention of the least available resources? I am curious to know.


Connect with Nadhan on: Twitter, Facebook, Linkedin and Journey Blog.





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