Data Science and Human Resources
We live in a world flooding with data, and the rate at which this data is exploding can be felt by the fact that the entire amount of data in the world gets doubled every two years. That’s so much data, and it’s beyond any human’s capacity to store and manage them. Thanks to Data Science which has emerged as the strongest technique to exploit all this data and manipulate it in order to solve business problems.
Human resources have been a little slower to embrace it as compared to other industries. But now the corporations have realized that this is the best assistance they can ever have in order to spend less time and resources on hiring decisions and analyzing employees’ performance and engagement.
Applications of Data Science in Human Resources
- Managing Data: To run a company efficiently, the top officials such as CEOs, Managers, Executives and Leaders need to know what is happening in and outside of the company. They need information in order to guide their employees in the right direction. Moreover, sales data, KPIs etc keep changing and are always uncertain. Data Science and Machine learning can help them draw better and faster insights and inferences that can solve problems and foresee future events.
- Hiring: Every year millions and people, including freshers and experienced, apply for new jobs. Major companies receive tens of thousands of resumes. Companies have to keep track of all the data present in the resumes and with the help of Data Science they can create a base for identifying best prospects among all the applicants. Companies can also discover other information such as which job portal is bringing the best type of applicants. This makes hiring effective to a level which would be impossible to achieve without it.
- Employee Engagement: Every company wants to retain its fruitful employees. Also, studies show that keeping employees happy in the workplace helps the company in the long run. This makes it important to use Machine Learning algorithms to identify trends and figure out ways to keep their employees happy and increasing their productivity. Analytics can help them calculate the right bonuses and perks for individual employees.
- Employee Performance: One of the key features of Data Science in Human Resources is analysis of employees’ performance. Using Data Science, HR team can get real-time data on each employee and categorize them on the basis of their performance.
- Chat bots: Chat bots are new computer programs based on AI which can answer frequently asked questions stored in the databases. This not only helps in reducing communication overhead, but also monitors prevalent issues among the employees.
How to Become a Data Scientist in Human Resources
Use of Data Science in Human Resources is all about analytics and Machine learning. So, it is imperative to gain expertise in Statistics and Machine learning algorithms in order to become a Data Scientist. The online training in Data Science not only provides in-depth preparation in the above-mentioned fields, but all the important concepts of tools used in Data Science. With regular assessments, webinars, and live projects, the course is designed so as to make students experienced in all the popular jobs relevant to Data Industry.