The Need:
In a recent survey conducted by Deloitte on the status of data analytics, 85% of the respondents said their companies have engaged in digital transformation in the last five years. That is encouraging however, only 15% of them have succeeded and for the remaining companies the promised benefits of data analytics remain elusive.
The most common reason for companies that failed is their inward tendency related to people, data, systems, and processes. They embarked into their digital transformation with the core belief that everything must be develop internally. While this approach had some benefits regarding customization and use of legacy-systems they were not been able to recognize the value of newly developed automation technologies and analytical solutions.
What stands out amongst those that failed is a common theme; these organizations embarked on their digital transformation journey with a tendency towards looking inward when evaluating their people, processes, data, and technologies.
The solution
Companies that were successful in adopting and implementing an enterprise wide data analytics culture leveraged modern self-service analytics and data science solutions.
Instead of building solutions for each Business problem they encountered, the successful companies acquired the newly developed technologies and implemented them into a unified enterprise wide data structure. This approach allowed them to focus more on the overall digital strategy implementation
As an example of a prebuild solution which fully automates reporting, analytics and AI processes is the HR platform developed by MJN analytics. The platform can provide more than 200 KPIs in real time it has a forecasting and analytical module, and it can identify Employees at risk of leaving the company using an AI model. The implementation takes usually less than a week and the cost for the is just few hundred dollars per month.
What HR platform is doing
In a recent survey published by International Data Corporation (IDC) found that 88% of the companies are still using Excel as a primary data processing toll with 65% of the time spent on bringing data from different sources, such as other excel files, databases, emails, text files, etc.
The HR platform created by MJN combines all data sources together in common data model and crates a unique platform for all reporting and analytical needs.
Example of data model. Tables are linked to different sources (SQL server, excel, Text files, etc)
Once the data is cleaned organized and adjusted base on business specific requirements, it feeds the dashboards module in real time.
A large number of visualizations is prebuilt into the platform making critical information available to everybody in the organization and also reducing the implementation time
Each period a deep analysis is performed highlighting the trends, forecasting, and KPIs correlations. For example, the increase in training had a significant impact on the positions unfilled.
In adopting platforms, such as MJN’s, organizations ensure that their investment is small and delivers “quick wins” immediately.
These quick wins rationalize deeper investments and confirm it’s a sure path to transformation success. With the right technology platforms, over 80% of users see measurable business value in the first days of experiencing the platform