Many businesses are incorporating big data into business operations and corporate decision-making. For example:
- There’s Israel Bank, which is able to maintain a competitive advantage over other institutions through daily risk management activities made possible by IBM’s Algo Market Risk Tool.
- There’s international packaging company Mondi, which cut labor costs by 35 percent and sped up report generation time by 300-400 times, thanks to the IBM Watson Analytics system.
- And there’s American Express, which developed a model to analyze historical transactions against 15 variables and is now able to predict 24 percent of accounts that’ll close within four months in the Australian market.
These three examples only scratch the surface of what’s possible when it comes to data analysis and interpretation. Yet, despite the numerous case studies that exist about the way big data impacts general business operations, few case studies exist focusing on the impact HR data can have on departmental operations and overall organizational performance.
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