Impact of HR Analytics in IT Industry (KEY IJP************752)

• Roshni Yadav

Abstract

Hardly nobody in the modern world is unfamiliar with terms like analytics, data science, and big data. The introduction of new technology and the ways in which people interact with businesses and one another are producing enormous amounts of data, the pace and diversity of which are growing exponentially every day. In this case, every corporation and department wants to use this data to further their own corporate interests. Analytics are being used at a very high level in the retail, logistics, and supply chain, as well as, for that matter, the medical industry. In a similar vein, some sectors including marketing and finance are already benefiting from analytics. These days, the HR divisions of many businesses are viewed as strategic units that support their companysuccess. With this change in methodology and working style, HR is also aiming to integrate into the business community. They want to use HR-related data in their strategic planning and increase the company's profitability. Today's HR professionals recognize that working with data alone is insufficient; they also need to comprehend a variety of indicators that can have a substantial positive impact on firms. As a result, several HR departments from different businesses have already implemented analytics, and they are operating fairly successfully. Taking into account the entire context, it is noted that many businesses are still struggling with using HR analytics. Why is this? It has been discovered that throughout the years, HR has relied more on intuition in their procedures. However, as technology and assessments have advanced to better understand the human resources life cycle, HR is producing a greater amount of data and shifting its decision-making processes from a subjective to an objective approach. Businesses who implement HR analytics will have a competitive edge that will allow them to formulate long-term business strategy. Additionally, it has been discovered from a variety of literary perspectives that HR lacks both business acumen and the ability to crunch numbers, which puts them behind schedule for the implementation of HR analytics. Famous author Jac Fitz proposed a number of measures in 1984 that can be used to analyze human resources effectively and efficiently, providing context for the concept of HR analytics.