CHICAGO, Ill. /eNewsChannels/ — KnowledgeAdvisors, the world’s largest provider of learning and talent measurement solutions, today announced it has released a brand new research report investigating the current state of talent management analytics and determining how and to what extent organizations are mining their data to extract value. The paper supplements the increasing desire among business leaders to measure the effects of learning and the steadily developing technology required to scale the measurement process.
This research focuses on a structured approach for extracting value from learning data and is derived from three sources of information: standard reports, dashboards and advanced analytics. Furthermore, the paper draws upon the results of their industry survey. The research conducted by KnowledgeAdvisors’ Metrics that Matter(R) system was based upon substantial data collected across diverse industries in an effort to gain a comprehensive representation. As a result, readers will have their principal queries resolved in terms of what is being done to extract value from learning data as well. Valuable recommendations are offered pertaining to actions organizations can implement to ensure training is supporting business goals. These include but are not limited to measurement missions, value demonstration, tools and systems, personnel resources, financial resources and processes for extracting data.
The findings revealed that there appears to be a large disconnect between what organizations should do to extract value from their learning data and what they are actually doing. Merely 50% of respondents reveal that their organizations possess a measurement strategy. Moreover the top two goals of an L&D measurement group are to resolve areas of improvement and effectiveness issues. Plus 86.5% of respondents mentioned that there are less than five people designated to the measurement role for their entire corporations. Finally, funding is restricted to less than 1% of the L&D Budget for 55% of respondents.
In terms of recommendations, organizations should review the following guidelines in analyzing the results and using the data to drive decision-making. First, a clear measurement strategy with a short and long-term roadmap and gain support from stakeholders should be set. Second, financial resources should be acquired to buy capable systems and hire expert measurement personnel. Third, a focus should be built on creating information by optimizing the way data is analyzed and reported.
“The ability to extract information from multiple datasets to help leaders make decisions is the very essence of business intelligence. Without a strategy, resources or funding, corporations are not absorbing the full value from their learning evaluation data based on the results,” stated Kent Barnett, CEO of KnowledgeAdvisors.
Organizations interested in further details about this research can access the complimentary white paper found at: http://www.knowledgeadvisors.com/media-research/white-papers/research-paper-extracting-value-from-learning-data-2010/ .
KnowledgeAdvisors is the world’s largest provider of learning and talent measurement solutions. Leading organizations access its measurement expertise and on-demand software to ensure a high-performing workforce. As a thought leader in Human Capital Analytics, KnowledgeAdvisors provides the most comprehensive analytics solutions in the market. By combining measurement expertise, on-demand evaluation software, and integrated analytics solutions with benchmarking, organizations gain the necessary insights on how to best develop their workforce. For more about KnowledgeAdvisors, visit: www.knowledgeadvisors.com .
Story References: learning and talent measurement solutions, talent management analytics, complimentary white paper, CEO Kent Barnett, Human Capital Analytics, Metrics that Matter system, report, whitepaper.