An increasing number of businesses invest in advanced technologies that can help them forecast the future of their workforce and gain a competitive advantage. Many analysts and professional practitioners believe that, with enough data, algorithms embedded in People Analytics (PA) applications can predict all aspects of employee behavior: from productivity, to engagement, to interactions and emotional states.
Predictive analytics powered by algorithms are designed to help managers make decisions that favourably impact the bottom line. The global market for this technology is expected to grow from US$3.9 billion in 2016 to US$14.9 billion by 2023.
Despite the promise, predictive algorithms are as mythical as the crystal ball of ancient times.
[...] To manage effectively and develop their knowledge of current and likely organisational events, managers need to learn to build and trust their instinctual awareness of emerging processes rather than rely on algorithmic promises that cannot be realised. The key to effective decision-making is not algorithmic calculations but intuition.
What do you people think about predictive algorithms ? Mumbo jumbo or ??
(Score: 5, Insightful) by NotSanguine on Tuesday February 13 2018, @03:48AM (4 children)
This sort of thing (predictive analytics algorithms) has been done for decades by consulting firms.
They gather the "relevant" (that's the important part and all of it comes from the client) data and organize it. They then pass that data through a proprietary algorithm and it spits out predictions.
That some folks have taken algorithms and turned them into code isn't so surprising. Nor is it likely to be anywhere near as effective as humans doing the same thing.
Why? because humans, while gathering the data, can see details about the corporate culture, interpersonal relationships and other things that are difficult (at best) to quantify. A good consultant will pick up on those things and include them in their analysis.
Even with additional data that computing systems can't quantify, these types of predictions are notoriously inaccurate except in the simplest cases.
But, PT Barnum (or whoever it was who said, "There's a sucker born every minute.") was right. And the people this will annoy the most are the old-school soothsayers -- the "management" consultants. As that will directly cut into their bottom lines.
No, no, you're not thinking; you're just being logical. --Niels Bohr
(Score: 2) by takyon on Tuesday February 13 2018, @03:56AM (3 children)
It's about time to integrate machine learning into the secret sauce to keep the illusion going for a few more years.
Proprietary cloud AI predictive analytics platform utilizing open source intelligence and machine learning.
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 2) by NotSanguine on Tuesday February 13 2018, @04:10AM (1 child)
Oh Takyon! You know how hot I get hearing buzzwords and jargon! Don't stop! Oh yeah!
No, no, you're not thinking; you're just being logical. --Niels Bohr
(Score: 4, Funny) by c0lo on Tuesday February 13 2018, @04:14AM
Stop already! Think of those polar bears.
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 2) by c0lo on Tuesday February 13 2018, @04:13AM
If it doesn't include blockchain technology, it's worthless.
(or did the blockchain bubble already burst already?)
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford