Using Data to Make Decisions Research Paper Example | Topics and Well Written Essays - 500 words

Using Data to Make Decisions - Research Paper ExampleWhen it is necessary to center your workforce minimizing these actions through retraining, reassignment and reallocation can reduce the loss of employees intellectual capital. Critical intimacy must be retained within the company now more than ever. C arer and succession plans should be developed for employees which will maximize the life of your employees and reduce productivity losses. Those companys and managers which invest the m and capital in analytics are more able to meet workforce challenges and decision making demands with true statement and competence (IBM Global Business Services). As a manager data should be considered a strategic asset and end user ask for analytics should be gathered through a clearly delimitate process (The Analytical SMB, 2012). Problems or situations that can be addressed through analytics include downsizing, recruiting, and retention. Knowing what your strengths and weaknesses are within yo ur workforce allow you to make decisions quickly. Employee evaluations, prior attendance records and discipline records all become significant data components in decision making processes. Career plans and tracks can assist in retention of semiprecious employees and understanding your companys shortages will allow you to recruit man power in targeted areas. Results in any problem or situation are greatly improved when data collection includes many another(prenominal) elements or facets. You should know and understand the needs of the business in order to decide what data needs to be collected.