Q&A: Talking Big Data and Recruiting Analytics with Lars Schmidt
When it comes to data-driven initiatives, the business world is approaching an interesting time. Companies that have adopted data analytics and visualization tools are making better and quicker decisions, and those that have been hesitant to make the investment are starting to quickly realize the disadvantages of staying the course with their outdated, ad-hoc data analysis methods.
That said, it comes with little surprise that in IDG Enterprise’s 2015 Big Data and Analytics research study, 36% of companies surveyed reported increasing their budget for data-driven initiatives. As we turn the corner and look toward the future of big data in enterprises, clearly those companies that have already made the move toward data analytics to get more out of their “small data” are well-ahead of the curve.
This was the topic of discussion in our recent interview with HR and recruiting expert Lars Schmidt. He shared his thoughts on analytics, big data, and what talent acquisition professionals should really be focusing on in 2015.
What does “big data” mean to you (and should recruiters believe the hype)?
LS: The term “big data” is quite the buzzword du jour in recruiting these days. To me, it’s the idea that we have the tools and technology to track patterns, habits, and behaviors like never before. How we capture and act on that data is the big question facing most recruiting teams.
What are some of the most common myths or misconceptions about analytics recruiting and HR pros need to know?
LS: I think the HR field as a whole is still in the very early stages of figuring out how to better leverage data to inform our talent strategies. The term is becoming a trend, which may lead many practitioners to believe everyone is doing it and they’re falling behind. The reality is we’re still in early days, and very few companies have truly leveraged some of this “people data” to inform their strategy on an enterprise level.
In 140 characters or less, why are analytics important? Give us your best elevator pitch.
LS: Before you get consumed with “Big Data,” make sure you’re leveraging your “Small Data” – ATS, turnover, performance, etc.
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