Data analytics technology is rapidly becoming a more integral part of many company cultures. According to the 2021 State of Data Maturity Report, 32% of companies have formal data strategies. Although they are still the minority, this figure has risen from almost nothing under a decade ago.
Data analytics serves many different purposes. We have talked at length about the benefits of using big data to improve financial management and implement more effective marketing strategies.
However, one of the most beneficial aspects of data analytics is with building an effective workplace. Many companies are using big data to get a deeper understanding of the nuances of their company culture. They are also using it to improve relationships between employees.
Using Data Analytics Can Help Create a Better Company Culture
We previously interviewed a number of company executives on the benefits of using data analytics to improve their company culture. The findings from these interviews is even more important today, as the need to improve company cultures is more pressing than ever.
The unexpected onset of a global pandemic has led to disruptive progress in workplaces all over the world. Companies have been experiencing painful and uncertain times that are making them re-evaluate their policies and welcome the concept of remote working. As the demand for flexible working increases and the vaccination drive is being accelerated across the world, it is time for companies to think of workplace transitions with a human-centric and hybrid approach in near future. Data analytics can help them bridge that gap.
Data analytics technology is making it easier for them to revamp their workplace management practices. This is going to improve employee satisfaction.
The idea of human-centric, data-driven digital workplace solutions makes even more sense in the current scenario. After all, business models have to be simple and human to maximize productivity. Employee values have to be taken into account in this case.
Naturally, the industries, customers, and clients are all agreeing to shift towards a digital workplace experience predicated on big data. This comes with enhanced flexibility because of their loyalty to organizations promoting holistic workforce growth and sustainable actions. Simply relying on delivering good services or products doesn’t suffice anymore for a company. They must use data analytics to keep up with changes and overhaul their business models as needed.
Companies will have to take a data-driven approach to retain talent in the new normal. After all, with digital workplace services coming to the forefront, employees are focusing more on things like remote working, work-life balance, and integration, instead of only professional growth.
Using Data Analytics to Create Human-Centric Workplaces
What are specific ways that data analytics can help create a better workplace? Some of the benefits are listed below.
- Monitoring employee wellbeing – The pandemic has made the emotional and mental health of the workforce take a hit. Thus, a digital workplace transformation has to involve checking on employees and ensuring that their expectations are met from the workplace. Companies can use data analytics to monitor employee sentiments, as well as indirect precursors of their happiness. This can include evaluating data like leave time used, which might be an indicator of stress.
- Flexible working hour – Most of the workforce has enjoyed this particular opportunity since the pandemic. They didn’t have to spend time commuting, spend more time with family, and balanced domestic chores. However, the value of the office is going to emerge as the future workplaces are away from home and take into consideration different tasks and working styles that cannot always be done from home. Data analytics can help companies determine what tasks must be accomplished and make sure they don’t schedule more employees than needed. This saves employees from having to come in for idle work. This data-centric approach allows for greater scheduling flexibility.
- Interpersonal Relations – As workplace managed services have made progress in recent years, it is necessary to consider that team building initiatives are affected in remote work scenarios. The future, hybrid workplaces that employees are soon going to come back to will offer more opportunities for dynamic interactions among colleagues and teams. Data analytics can help companies keep track of performance of employees during these team building initiatives.
- External and internal growth – Workplaces will have to create prospects for job and skill growth within the hybrid workplace. Organizations will even encourage employees to develop such skills that might go beyond their current position but be necessary for the future. This is arguably the best application of data analytics. Companies can use data tools and OKRs to see how various behaviors contribute to organizational goals.
Data Analytics is Crucial for Companies Striving to Improve their Company Culture
Showcasing empathy towards the employees is a crucial aspect of effective leadership, regardless of whether you have a software company or offer end user computing services. It is bound to encourage interactions and lead to positive communication. A workplace that upholds its values, while holding on flexibility and productivity, is going to go a long way in establishing the model of the future workplace. And the period of transition between this workplace transformation has to be all about welcoming the ‘human’ factor in human resources.
Data analytics technology helps companies create better workplace cultures. This is going to have huge benefits in the years to come.