Your Data is An Asset - Here's How To Use It
In today’s Tech Pulse, gain insight into how:
Each of these articles is penned by members of Forbes Technology Council, key luminaries shaping the future of technology leadership.
Grab your coffee, and let's dive in!
Unleashing the True Potential of Data for Enhanced User Experiences ??
Desire for data is less about quantity, and more about harnessing insights for better business outcomes. Due to complex data infrastructures and siloed teams, businesses are struggling to realize the value of data-driven insights.
Here are some key practices to turn this around:
???????Humanizing Analytics: Shift the focus from data collection to business outcomes that leverage data, such as enhancing user experiences with your product.
???Prioritize Customer's Perspective: The customer’s viewpoint should lead your data interpretation. Align your teams with what your customers see to effect real change.
?? Understand the "Why": Don't take data at face value. Dive deeper to understand the context and underlying motivations.
?? Guide Data Access: Provide data access across teams, ensuring interpretation guidance to tie back insights to business outcomes.
The future of digital analytics is real-time data and teams proficient in quickly pivoting based on data insights. Simplify the approach to harness data that truly matters and results in delightful customer experiences.
Leveraging Company Data for Smarter Hiring ??
In the quest for top talent, your company's own data is a treasure trove waiting to be explored. With only 7% of organizations effectively using HR data, there's ample opportunity to revolutionize your hiring and retention strategies.
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Here's how to turn your data into a competitive hiring advantage:
???Harnessing Predictive Analytics: Use existing company data to optimize hiring cycles and increase retention. Analyzing employee demographics, performance, and feedback can inform more evidence-driven recruitment.
???Targeted Talent Strategies: Dive into demographics to tailor benefits and work arrangements. Utilize performance metrics to identify and promote top talent, and monitor turnover rates to develop effective retention programs.
???Feedback for Future Success: Employee surveys provide direct insights into workplace culture, helping to address issues proactively. Tools like Qualtrics and CultureAmp can transform feedback into actionable strategies.
???Inclusive Hiring Practices: Utilize data to manage unconscious bias and promote diversity. Data-led training modules can significantly reduce bias, fostering a culture of inclusivity.
Revolutionizing Employee Benefits Through Data
The benefits industry is on the brink of a transformation, with data management and real-time connectivity paving the way for a more seamless, personalized benefits experience.
Here's how better data is set to change the game:
???Connected Benefits Ecosystem: The future of benefits lies in breaking down silos and sharing data securely and in real-time. This will enable personalized support during enrollment, real-time benefits utilization tracking, and accurate claims processing, all tailored to consumer preferences.
???AI-Powered Efficiency: With 94% of business leaders acknowledging AI's importance, standardizing and synchronizing data is crucial for the deployment of AI tools. These tools will reduce billing errors, streamline plan enrollment, and prevent coverage delays, enhancing the consumer experience.
?? Next-Generation Care: Accurate, up-to-date benefits data is key to interoperability across the healthcare system, leading to more personalized care, better health outcomes, and reduced costs. It's a small part of healthcare but has significant potential to improve patient experiences.
Wrapping Up
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