ADP, the payroll specialist, has launched a big data platform to help customers bolster workforce productivity, talent development and staff retention. The move is part of a growing IT trend that leverages data science and predictive analytics for talent management and so-called human capital management (HCM).
The ADP DataCloud leverages aggregated, anonymized data from over 600,000 clients and 24 million employees in the U.S. The opportunity: Roughly 75 percent of companies with 1,000 or more employees leverage data for informed business decisions, but only 46 percent use workforce analytics to improve business decision making, an ADP-funded survey found.
Eager to fill that gap, ADP says its DataCloud supports:
- Benchmarking: Allows customers to compare HCM metrics with an aggregated and anonymous market benchmark at the industry, location and job-title level to bolster workforce decisions.
- Data Exchange: Combines workforce data with other types of business data, such as sales or customer satisfaction scores, from non-ADP platforms to identify deeper business insights and actions.
- Predictive Analytics: Provides insight into the likelihood of specific workforce management outcomes. The first capability helps employers identify those employees likely to leave their organization.
From ADP to Workday, a growing number of HR, talent management and HCM platforms support analytics that attempt to bolster staff retention while also identifying employees who may be planning a career change.
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