People analytics is collecting and applying organizational, people, and talent data to improve critical business outcomes. It enables HR departments to gain data-driven insights to make decisions on different people processes and turn them into actions to drive the performance of an organization. People analytics is at the center of HR. Decision-making about people in an organization is based on analysis and data. Having well-developed people analytics will ensure employee data is being communicated appropriately.
Descriptive analysis (aka decision analytics) is a basic type of people analytics that analyzes the patterns in historical data sets to gain insight into what happened. However, it is unable to make future predictions. This type of analytics is the most common type of people's analytics.
Diagnostic analytics takes descriptive analytics a step further and offers an underlying explanation for the insights revealed in the trends, correlations, and anomalies of the data.
Predictive analytics categorizes past and present data to determine insights and then uses an estimating model to predict what might happen in the future. Predictive analytics are less common, with only 20% of organizations using this type of analytics.
Prescriptive analytics is the final step that channels predictive analytics into decision options and actions to achieve success.
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