When is the right time? Or, is there any right time to move to big data? Well, this question was asked by the HR manager from one of the IT companies during TAC 2015 hosted by People Matters in partnership with Career Builder India.
There is a much fuss around Big Data, and not just one but 80% of the recruiters/ HR professionals have concerns regarding analyzing or use of big data. “Only 4% of companies are ready and using Big Data precisely,” quotes Premlesh Machama –Managing Director – India, Career Builder from a recent survey.
Many consider Big Data as a myth; however Analytics cannot be neglected as it is real. Big data is all about knowing your customer/ candidate. On one hand where resume talks about what candidates have told, big data talks about what they have not told. So it helps you not just take the right decision at the right time but help in predicting future as well.
Big Data helps the recruiters to hire with right insights. It helps you to predict about candidate’s stay in a company and be prepared with the replacement.
Mr. Machama shares an example that, “During our grandparents time, average shelf life of an employee in one company was 50 years. Today, this has reduced to 27 months. He says, most of the candidates start looking for a change between 12 months – 18 months.” So, this is where big data would help you to be predictive and be prepared for the replacement.
Organizations need to analyze impact of not using big data. Is it hurting by not subscribing to big data? There has to be some negative impact. Let’s alter the question a bit. What are the challenges in using Big Data? Its answer is important because probably that is why organizations are still thinking about its implementation.
So, broadly, there are two reasons behind this. One: It is expensive to maintain & implement and secondly, one need expert analyzers to analyze it.
Solution: Every product/ technology has a life cycle. So given down the line, there would be affordable tools, but till that time one has to start working on the change in approach. Behavior needs to be worked upon to get prepared to use product and adapt to it when it gets affordable. We are just few years away from there. This is a huge mindset change and cannot happen overnight. So start preparing today.