What is predictive analytics?

What is predictive analytics? How can it be applied to improve performance in an organization? What is the importance of identifying key metrics for driving quality? How can benchmarking be used? Please include examples from your professional experience or any reading.

Resources

The Value of Analytics

• Pease, G. (2015). Optimize your greatest asset—your people: How to apply analytics to big data to improve your human capital investments. Hoboken, NJ: Wiley.
  • Chapter 2, “What Exactly Is Predictive Analytics, and Why Is it Useful?” pages 17–28, provides an overview of the value of analytics.

Health and Human Service Technology

• 185 human resource management technology solutions available in the health & human service field offerings: An OPEN MINDS analysis. (2019, December 3). NASDAQ OMX’s News Release Distribution Channel.
  • Health and human service technology that have human resource functionality.

Tips and Approaches for Building an HR Scorecard

• Maxwell, M. (2018). What is an HR scorecard? BizFluent. Retrieved from https://bizfluent.com/info-7754692-hr-scorecard.html
• Mondore, S. P. (2018, May 3). 3 steps for building the business-focused HR scorecard. HRNews.
• Weiner, J., Balijepally, V., & Tanniru, M. (2015). Integrating strategic and operational decision making using data-driven dashboards: The case of St. Joseph Mercy Oakland Hospital. Journal of Healthcare Management, 60(5), 319–331.
  • A real-world example of the value of digital dashboards. Focuses on key performance indicators (KPI’s) and other tangible and intangible benefits such as tracking KPI’s over time, establishing targets, and improving performance.

HR Dashboards

• The following media piece presents an overview of the use of HR dashboards. Take the time to view this piece in its entirety.
  • HR Dashboards: Fueling an Organization’s Drive for Excellence.