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Posted By David Brown, Executive Vice President, Veredus | Hays on Wednesday, Dec 23, 2015
Old and new players alike are rapidly re-positioning around how to collect, analyze, predict and package more data for greater and quicker insight. In a recent Talent Tech Labs ‘Trend Report’, Brian Pietras, the Head of Technology Ventures for Hays shares his views on how big data is the key to a successful hiring strategy.
For evidence, look at last year’s announcements from established players LinkedIn and Monster, which now both aggregate jobs. The result: In Monster’s Q2 2015 earnings call, they reported a 12x increase in the number of jobs inventory and four million new users. That data has real value, and the market took notice, adding over a $100 million in market capitalization.
These changes are even more profound in the private market, where Hays Technology Ventures seeks to form relationships with the next generation of technology companies leveraging data. Data has long been an integral part of HR’s ascension toward the role of strategic business partner.
Earlier in my career at Infohrm we regularly worked with enterprises at all levels of maturity to position their data, processes and even talent for greater business insight, a natural evolution from standardized workforce reporting and systems of record investments. But HR never really had a big data challenge. Perhaps trapped, silo’d or dark data, the term used by Gartner to describe underutilized operational data, but not big data.
It is the challenge of leveraging data, big or otherwise —which is very real and for some, can offer a large prize—that we currently see startups and investor dollars chase with varying degrees of success. Provide a workable solution to a big data challenge and you increase the likelihood that your startup gains the attention of investors.
Is your business utilizing Big Data to target the top talent?
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