Business Intelligence is widely accepted and used for a number of business decision making processes the world over. BI tools and technologies are used to transform raw data into useful and meaningful information that can be used for identifying and developing new opportunities.
BI applications include the activities of decision support systems, query and reporting, online analytical processing (OLAP), statistical analysis, forecasting, and data mining.
The raw data here can be sourced internally, externally or both. Traditionally business intelligence has been in use in the areas of customer profiling, customer support, market research, market segmentation, product profitability, statistical analysis etc. However if used in Hiring, BI can give competitive advantage to a business. Applying BI to hiring in the same manner as it has been leveraged for other functions within organizations requires some real out of the box thinking.
The process starts with defining outcomes like job performance etc, then evaluation of steps associated with these outcomes. This means looking critically at the relationships between each step in your hiring process and the important outcomes associated with it. Hiring functions like recruitment branding / advertisements, screening, resume evaluation, assessments, tests, interviews/interactions, final decision making can all provide opportunity to collect data.
Post data collection, meaningful relationships in this data has to be looked into. The impact that each step is having on others as well as on the ability of hiring process to provide outcomes valuable to the organization. In conclusion, BI is a mindset that involves the understanding that all of the information collected during the hiring process has meaning. There are many opportunities to uncover valuable relationships.