Multinational Bank Gets Dividends from Human Resources Analytics
Efficient workflows, root-cause understanding, invaluable insight, employee satisfaction
The bank's director of advanced workforce analytics manages a small but dedicated group of data scientists who support decision-making analysis for the company's human resources department and businesses. The group also performs data science, personalized and operational analytics, and system dynamic and risk simulations and applications. Many data modeling applications are based on the company's confidential data held in a Teradata warehouse.
"Data science and data-driven decisions for us are growing very fast with executive-level visibility and support for the programs. Our focus is employee sourcing, development, engagement, performance, and retention, as well as manager effectiveness. Our goal is to provide actionable insights, decision-making support, and fast knowledge extraction, and TIBCO Statistica™ is a great partner in helping us to achieve our objectives.
"The software provides a powerful, comprehensive, and interactive high-productivity platform for analytics with opportunities to easily review, share, and collaborate not only on final results of the analysis but the entire analysis path. TIBCO Statistica workflows can be shared with colleagues for many purposes, including peer reviews to double-check that the steps taken made sense, and to make further improvements.
"Statistica provides an interactive and efficient process of actionable insights discovery and model building and allows incorporating peer review into all stages of the analytics, making it easier and more efficient to iterate the analyses.
"The main focus is beyond scoring, to understand what drives certain outcomes and how the outcomes could be most efficiently impacted. The broad range of Statistica algorithms is very useful and efficient for that root-cause purpose.
"We also use Statistica Text Miner extensively against our unstructured data to identify major topics and to discover compelling relationships that enable us to gain invaluable actionable insights from data. The accomplishments and impact of this five-person team are felt at all levels of the organization. We do a substantial number of projects that are impactful and visible at the executive level. We believe that some of the Statistica algorithms are currently unique and the best in the market, and they are paying great dividends to our institution.
"TIBCO Statistica has been a great partner in helping us build employee satisfaction and customized sentiment dictionaries, providing us the opportunity to greatly increase the ratio of signal versus noise in text mining applications."
What's next for the bank? More unstructured and structured data will be part of the enterprise analytics mix. "We are incorporating Hadoop more broadly into our enterprise architecture, which will require the integration of Teradata and Hadoop data for analysis. TIBCO Statistica will be a great help with that.