Since time immemorial, it’s a well-known fact in the HR world that metrics hold the key to unlocking the true potential of people. When big data and analytics first exploded onto the scene, it played a major role in assessing, maximizing, and rewarding an employee’s productivity. Today, the value that analytics brings to employees is immeasurable. That’s no exaggeration, considering that HR departments continue to find new ways to gather and act on data-driven insights.
And with a great amount of data power comes greater responsibilities. Future-thinking HR leaders are under pressure to help meet the enterprise’s workforce objectives while ensuring that each employee is engaged, productive, and of course, happy.
They are increasingly relying on workforce or HR analytics to take strategic decisions that can impact business outcomes. Especially in this pandemic-influenced remote working era, analytics can heavily contribute to making work-from-home models sustainable in the long-term.
HR professionals have also come a long way from using traditional analytics to understand bits and pieces of the employee’s journey with the enterprise. Gone are the days when onboarding, appraisal, and exit were the only parts of the journey that dealt with metrics. With big data-enabled predictive models, enhanced by artificial intelligence (AI)-enabled systems, you can even uncover hidden patterns and get actionable insights to improve the full employee journey – from hiring to retiring!
Oracle Fusion HCM Analytics: Take better decisions
Oracle Fusion Human Capital Management (HCM) Analytics is a new cloud solution that connects every HR process in your enterprise. From hire to retire, Oracle HCM Analytics gives you a single source of truth for all your HR data and ensures streamlined and unified experiences in each step of the employee journey.
You don’t need to invest several hours to collect the data or hire data scientists to make sense of it. And you don’t have to integrate complex and cumbersome data models into your enterprise software applications either.
Oracle Fusion HCM Analytics comes equipped with ready-made workforce KPIs, content, and data models that ensure fast time-to-value. Whether you want to analyze workforce diversity, mitigate employee attrition, discover employee retention trends, or analyze compensation ratios, you can get started at blazing fast speeds. Its ML-led system can make discoveries on its own, and its NLP/NLG technologies enable conversation-style analytics that anyone can understand.
Prebuilt for more accuracy, intelligence, and speed
The best part of Oracle Fusion HCM Analytics is that the decision-makers can use the data from the start, unlike other BI and data visualization tools that require IT teams to create dashboards or configure KPIs. You can quickly transform your Oracle Cloud HCM data into valuable insights that cater to specific business needs.
- Use a readymade data pipeline to load application data
- Leverage inbuilt ML and data science tools to extract granular analytics
- Tap into cross-functional data sources and improve SaaS collaboration including third parties and external suppliers
The solution also includes over 50 pre-built KPIs related to hiring, diversity, turnover, terminations, compensation, and more. Other features include:
KPI Builder: Custom-build your KPIs from scratch or modify existing ones.
KPI Cards: Discover a bird’ eye view of HR metrics, get automatic alerts when a KPI is trending up or down, and select the time period and type of visualization (pie charts, bar graphs, treemaps, etc.).
KPI Decks: Get a dashboard view of the HCM with color-coding to indicate critical thresholds while designing each deck to facilitate your unique workforce needs.
Align business goals with people priorities
From line managers and analysts to the C-suite leaders and executives, there are multiple decision-makers in your enterprise. It’s why Oracle Fusion HCM Analytics provides a unique self-service data discovery ecosystem that, in turn, incubates a data-rich decision-making culture across the enterprise.
Going beyond catering to just HR analysts, this solution can be instantly made available to any number of decision-makers. And you won’t require any support from your technology team to tune SQL queries, install software patches, or back up data.
Tightly integrated with Oracle Cloud HCM, it seamlessly complements your current reporting initiatives and turns the clean, accurate, and governed data into business-critical insights.
- Be ready to accommodate unexpected situations that may lead to remote working scenarios
- Get related data insights about revenue, costs, and supply chain activities
- Harness a universal data security framework to consistently apply job roles, permissions, and access restrictions
Oracle Fusion HCM Analytics is a standout solution because it puts analytics on autopilot. And that puts every decision-maker in your enterprise in a better position to understand every employee. You can track their performance as an end-to-end journey and define metrics to assess the milestones accurately. You can harness embedded ML algorithms to automatically unearth data trends and correlations to enhance their productivity at a granular level.
Simply put, with Oracle Fusion HCM Analytics – you get your hands on valuable information about the workforce without needing to code, set up complex rules, or decipher confusing excel sheets.
PMP certified and passionate about ERP,CX transformation. He is the author of “A Practical CIO Guide for Modern Business Applications”, an iBook articulating next gen application sustenance or maintenance needed by organizations embarking on digital transformation. He is also the Founder and President of “Oracle Applications Forum” (OAF)focusing on latest modern business applications.
At Aspire Systems he also plays a role of account manager for large accounts and heads Enterprise Business Application practice.
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