Big data, analytics, business intelligence – these terms define a trend that has found its way into almost every business conversation. They also define the era of data and the need to harness the possibilities it presents. Everybody wants to know what the data is telling them, but few understand how to eke out any real benefits. It is time to relook how data is being managed.
“Unfortunately, many companies that have access to big data as well as deep levels of internal information are not gaining the maximum advantage,” says Teryl Schroenn, Chief Executive Officer, Accsys. “There is still a very high percentage of business that is using data reactively as opposed to proactively, and this is impacting on its effectiveness. Analytics should help your business grow by providing in-depth, actionable insights into clients, employees and business processes.”
A blend of payroll data, human resources (HR) data, and time and attendance data can create an insightful and holistic view of the organisation. The data from these three platforms can identify trends in employee behaviour, localise levels of client engagement and fine-tune business process or service.
Digging into the data
“With reactive data, you don’t get the depth you need,” says Schroenn. “A proactive, comparative analysis will pick up trends and behaviours which could be either an issue or an advantage, vastly improving the organisation’s decision-making abilities.”
Capturing the tics and shifts in data can identify if one grouping of employees happens to service one set of clients with more efficacy. It can uncover that a specific blend of individuals is far more likely to eke out value from a specific customer, and how one department always has the highest sick leave due to an issue with management. Each of these insights can have a transformative impact.
A painful process
“If you know what your pain points are, you can fix them. You can turn frustration into a money spinner and concern into a leadership opportunity, but you can’t do any of this unless you know the problems exist,” adds Schroenn. “Do you have a Monday to Friday sick leave pattern? Is it worse at one store over another? If you can compare patterns you can find problems.”
Payroll alone is not the solution. While the data is rich and the potential there, it takes a unique mix of data across payroll, HR, and time and attendance to truly get the holistic eye the business needs. Using all three options, the business can build pictures, extrapolate future risk and, of course, uncover future advantages.
“Find the stories in your organisation and you’ll find ways to drive employee engagement and make a difference to customer relationships,” concludes Schroenn.
By Teryl Schroenn, Chief Executive Officer, Accsys