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The Balanced Scorecard
Consider your favorite fast food restaurant (or in this case… maybe your least favorite). They may be making tons of profit. However, their business practices are outdated, their customers are unhappy and you don’t see any progressive changes anytime soon. But they making money so they must be doing something right. Right? The finances give us an unbalanced view of how an organization is really doing.
HR Analytics
Many may refer to this as evidence based decision making. But how do we get started is the question? In order to really understand the value of the data, you must develop a curious mind. It’s easy to simply walk into an organization and continue the old way of doing things because we’ve always done it that way. It’s looking for the data that substantiates why things are done the way they are done.