How Companies Use Web Data to Analyze Workforce Trends

Workforce trends refer to the measurement of changes that occur within a particular workplace environment over a specific period of time. As changes in industries naturally occur, companies are able to discover new workforce trends, track existing workforce behaviors, and even leverage artificial intelligence-based workforce analytics tools to help predict workforce changes.

Further, public web data helps fuel such AI-based HR analytics tools that help companies better understand how employees' needs and the overall workforce are changing. This week's newsletter will explore workforce data, its sources, and how businesses and investors leverage workforce trends.

The importance of analyzing trends in the workforce

How businesses leverage these trends

Businesses are able to leverage workforce trends in a variety of ways. Firstly, analyzing workforce trends with HR analytics tools and other employee-related software provides businesses with direct insights into their current employees, allowing them to focus on problem areas or redirect resources to particular teams.?

How investors leverage these trends

While leveraging workforce trends is a rather niche use case for investors, investment firms are able to enhance their overall investment intelligence by analyzing the movement and changes of the workforce. Workforce trends can be early indicators of promising start-ups, provide market insights surrounding business growth or decline, and even help generate business opportunities.?

How to identify workforce trends with public web data

Companies that specialize in human capital development, tracking, and optimization, such as HR tech companies, build AI-based tools for companies interested in data-driven HR strategies. Ultimately, companies are able to enhance their knowledge of the workforce by utilizing AI-based tools fueled by public web data.

Data sources used to analyze workforce trends

Job postings data

Job posting data, also referred to as hiring data, helps companies analyze workforce trends by providing insights surrounding job posting information such as title, company, salary, description, location, and more. This data can be leveraged by investors, recruiters, and even lead generation tools.

Company employee review data?

Company employee review data provides information surrounding a particular company's reviews by current and former employees. Employee review data provides both investors and businesses with information surrounding the pros and cons of a particular company and other details rating a company's culture, benefits, pay, and more.?

Employee data

Employee data is publicly available data collected from business-related networking sites surrounding individuals' professional work experiences. While employee data has a variety of use cases, information such as an individual's work history, connections, and interests enhance recruiters' and HR tech companies' knowledge of the current workforce, prospective employees and can even be helpful in discovering new talent.

Firmographic data?

Firmographic data, also known as company data, is data that pertains to company operations, organizational structures, funding, revenue, size, and more. This information is useful for uncovering workforce trends because it provides companies with information about their competitors, industry expansion, movement, and company growth.

All of these can be analyzed by AI-based workforce analytics tools to help companies get a better understanding of hiring trends by competitors, track key players within the industry, and even predict workforce needs.?

Workforce analytics

Want to learn more about workforce analytics? Read our blog post.

Coresignal is a leading public business data provider in the web data sphere with an extensive focus on firmographic data and public employee profiles. Leveraging data of 792M professional profiles and 103M company records enables companies to build data-driven products and generate actionable insights. Coresignal is exceptional in terms of data freshness, with 884M records updated monthly for unprecedented accuracy and relevance.