Workforce analytics allow you to combine and compare raw workforce data, present it graphically to see historical trends and run "what-if" scenarios. Modeling capabilities will help everyone in the organization—across all departments and offices—visualize how the movement of talent impacts hiring decisions, cost models, career-path initiatives, succession plans, and risk management. Managers, in turn, can use this information to create targeted business initiatives placing the right levels of talent in position to support them. And, all of this is based on solid empirical evidence, not simply a "gut feeling".
By going beyond simple HR statistics to include robust corporate information such as financial indicators and survey data, managers can gain deeper insight into how the organization is doing as a whole—basically what is and isn't working—and can establish clear and measurable links between human capital programs and their direct business results.
Workforce analytics provide the basis for specific action plans and workforce investments that address gaps or inefficiencies in an organization's talent mix that need to be overcome in order to drive better business outcomes. For example, from a succession planning point-of-view, workforce analytics can view how many of your employees are nearing retirement status and how those filling those upcoming vacancies and the resulting changes in staffing levels and positions will affect pay and performance throughout the organization.