The current generational shift in business has been quickly reshaped by emerging technologies, new regulations, ongoing digital transformation, and much more. From AI-enabled services, cloud computing, big data analytics, and automation to re-arranging workforce, open platforms, and higher customer service expectations- everything requires transforming expertise and better solutions to help businesses sustain, grow, and achieve.
Meanwhile, organizations are constantly looking for a more integrated, collaborative, and relatively frictionless future to keep- trust, value, and growth- paramount. Amid all this, leaders are pushed to stretch their roles and become enablers by integrating data-driven decision-making with their day-to-day business functions. Up until now, offering analytics to your customer seems to be a luxury rather than a necessity. However, this way of looking at analytical solutions has changed over the years.
What is Embedded Analytics?
Embedded Analytics is an analytics platform that gets embedded into your enterprise software application to help you collaborate over data and share insight in a governed platform. Such analytics are generated from the data which is already collected or generated and processed by your data management team. Using that data, analytics drive an in-app solution to display reports and build insights for your stakeholders on its own.
Embedded analytics mechanism gets easily integrated into your existing application or solution and allows the user to gain a deep understanding of how your business work. Based on those automated insights, you will be able to make informed choices, generate data-driven solutions, and therefore, get to the market faster. Overall, this modern intelligence platform in business can enhance your capacities and user experience with improved design solutions and user interface.
How to Apply Embedded Analytics to Recruiting?
In HR, powerful data-driven decision-making tools are in huge demand due to their great ability to generate better outcomes. HR department’s role is to hire not just people but the right people at the right time. Hiring managers completely understand that in each recruitment round they will have to deal with a large chunk of data to arrive at the best recruitment decisions shortly.
If analyzed properly, this data can bring out meaningful results, and get quality yields in a shorter period. For instance- open positions in any department, application received against a particular opening, offer acceptance ratio, maximum application sourcing point from candidates, etc are a few areas which recruiters can refer to, again and again, to hasten the position filling, identifying process gaps and take corrective measures accordingly.
Essentially, embedded analytics allow recruiters to monitor, analyze and control their recruitment performance in parallel. Simply put, HR recruitment dashboards help hiring managers in tracking the key recruitment metrics and know what has gone well and what has not without repeating the task. Embedded analytics has been geared for the different HR data types to facilitate an intuitive user experience. It let hiring managers or business leaders dig deeper into data issues, set priorities, and make choices easily.
Embedded Analytics can be built by the company itself or it can also be purchased from outside. In either case, it is important to maintain agility and control so that information can be extracted in a much more relevant and desirable way. Throughout their adoption or integration process and even long after that they become one of the essential parts of your business journey and you will receive constant support in the HR domain to empower your businesses. What’s more, even without having any expertise in data science, it allows recruiters to access the power of data and its embedded capabilities take their burden off from having to generate those analytics using another application.
Embedding analytics into recruiting typically helps your company save up to 50% of your hiring cost. While enhancing the hiring capacities, EA helps you draft job descriptions, establish employee branding and recommend process up-gradation or modifying any other requirements. Meanwhile, these visually appealing widgets let you know the latest trends and also help you compare them with the previous ones. If necessitated, you can schedule data alerts to get notified whenever a set of metrics has reached its threshold limit.
Monitoring such forecasts will help entrepreneurs or senior managers to improve their recruitment funnel, acquire suitable candidates, and know the performance of their HR team. Further, tracking performance will help them acknowledge the hard work of the team, or find the root cause of any performance defeat, if surfaces. Herein, additional training can be imparted to resolve issues concerning their weaker or underdeveloped skills.
Overall, leaders will be able to figure out seamlessly what makes their company more appealing to the candidates they desire, increase the satisfaction among existing employees, and therefore, reduce the employee churn rate.