Big Data’s Big Implications on Talent Sourcing
Posted on May 20, 2013, by Matt Ekstrom
It’s not been talked about for that long, but long enough to have some serious discussions in boardrooms and some blogs written about it.
Big data in HR.
For those new to the term big data – it generally refers to a collection of data sets that are so large and complex that it normally can’t be managed by the usual database management and data processing apps. Big data is naturally a moving target, but it can often exceed multiple petabytes these days. For reference, one petabyte is one quadrillion bytes. Yeah, pretty effin’ big!
So, how does this relate to HR and talent? To explain, we’ll need to start with the analysis of big data.
Big data analytics is the process of examining large amounts of data of a variety of types to uncover hidden patterns, unknown relationships, and more. When done well in business, this can create a HUGE competitive advantage. It helps organizations make better business decisions in every department these days. Most of what I’ve read, though, about the use of big data analysis in HR has to do with one of two areas.
- Looking at information and analyzing past events for useful insights on how to make future sourcing and hiring decisions
- Determining probable future outcomes of human capital decisions.
One of the best examples of this is with Xerox, and it was outlined in the Wall Street Journal last September.
“After a half-year trial that cut attrition by a fifth, Xerox now leaves all hiring for its 48,700 call-center jobs to software that asks applicants to choose between statements like: ‘I ask more questions than most people do’ and ‘People tend to trust what I say.’ “
Another example is what E-Quest, a robust job distribution company, has begun to offer. In November, the San Ramon based organization announced a service that leverages the predictive analytics gleaned from big data to forecast which job boards would be best to utilize for various requisitions.
These are very practical applications, no doubt. But, now, we at HiringSolved have a new application in which to use what information is not only in a company’s existing database, but where the biggest set of data in the world lives – the internet.
HiringSolved functions much like Google in that we have set up crawlers to scan the entirety of the Internet scouring for information. But, unlike Google, we are hyper- focused on talent information.
Going beyond traditional Boolean skill searches. HiringSolved finds the candidates you need wherever they are on the Internet automatically.
HiringSolved is revolutionary software designed to increase the productivity of talent sourcing specialists everywhere. Instead of needing to use extremely complex search strings (or even simple searches) on Google, Bing, Yahoo, Monster, CareerBuilder, etc. HiringSolved analyzes the big data for you and gift wraps it in a neatly formatted profile that includes a resume or online profile (or both), all of the links to sites where we found the candidate, offers 5 very similar candidates to each individual, and even provides a word cloud of the skill sets of the candidate built instantaneously to offer quick insight into the candidate profile.
Ever want or need to find a Bostonian with Java, SQL, and Unix experience in 3 100ths of a second?
Yeah, it’s that fast.
This has been the missing link in big data for HR. Human Resources has long had access to some degree within their own data sets. Then they began to be able to predict the behaviors of candidates pre-interview. Then eQuest launched the tool that predicts the best placements for job ads.
What’s been missing is the obvious trend with candidates. With the advent of social networks and professional networks and Gen Y becoming a major player in the war for talent, paper resumes are nearly dead. A resume has become a living, breathing, growing document available on the Internet. The Internet, where we all live, learn, work, and play.
But, now, talent specialists can use just one tool that analyzes every potential candidate profile available on the net in fractions of a second.
It’s been said that the art of simplicity is found in a puzzle of complexity, and HiringSolved has pieced it together for you.