If you own a business and want more insight into your workplace, consider using workforce intelligence software. This software can analyze data from your company and show you where your company needs improvement. Information provided by workforce software can give valuable insight into the demographics of your employees, inefficient processes within your company, and market information.
Your employees are the center of your company. Learning how to use and leverage their specific skills allows you to stand out in a competitive market. Workforce intelligence software can identify these skills. If you locate an area where your company is falling short, you may address the problem and potentially save time and money.
The Different Types of Data Used To Collect Information
There are three types of data that can be used to collect information:
Structured data: This is the most easily tracked data type. It is called structured data because it is quantitative. This data includes clock in and out times, machine logs, and accounting transactions. Both humans and machines can create this type of data.
Unstructured data: This data type was much harder to track before computers were able to do it. This type of data is harder to quantify, but it offers a profound insight into your employees and business. Unstructured data can be collected from emails, photos, texts, and even social media posts.
Semi-structured data: this type of data is a mix of structured and unstructured data. Surveys could be considered semi-structured because they usually contain unstructured data and percentages.
These data sets can be helpful on their own, but with all three, you can get a more comprehensive picture of your company’s strengths and weaknesses. The software can also sort all of this information into a more readable format, which can help you develop actionable steps to improve your business.
How Workforce Intelligence Software Collects This Information
Data is collected by installing the software onto your company computers or mobile devices. This allows the software to begin tracking work performance and each employee’s productivity and output. The software can utilize public records and files to provide data.
Data Gathered From Workforce Intelligence Software
Whether you are an investor or a business owner, this data can give you the information you need to make decisions. Here is some information on the data that can be gathered by workplace intelligence software:
The people running your business have a lot to do with its success. Using workforce intelligence software, you can gain insight into some of these areas:
- Employees’ skills, experience, education, and tenure
- Employee salaries and locations
- Under-utilized employees
- Underperforming employees that are potentially costing you money
The information that software can offer on the people in your organization can also be valuable for recruiting. Knowing what skill sets you are lacking in your workplace can help you hire people with the right qualifications.
Management and Process
Information on business management and your company’s processes may help your company become more productive. You can also identify your company’s weak spots. Here are some of the specific areas that can be addressed:
- Your company’s strengths
- What processes are slowing down your progress
- Specific areas or departments that could be improved
Some workforce software also allows you to run certain scenarios, so you can know how a certain business decision might affect your business.
Potential and Trajectory
Owners and investors both want to know the potential and trajectory of their businesses. These two things could be deciding factors in critical business decisions because of what they mean for the future of the company. Here are some of the areas where you can receive valuable insight:
- Market trends
- Tracking the current and past growth of the company
- Projected revenue
The potential and trajectory can be a way to estimate how successful your business is going to be on its current path. If the numbers are not quite what you had hoped, you can look to your people and processes to see where you can optimize for better outcomes.
Get Workforce Intelligence Software Today To Help Optimize Your Business
If you want to help optimize your business by gaining access to your workforce information, reach out to a company that offers workforce intelligence software today. Certain software can provide you with valuable insights into your workforce and business processes.