“People are our most valuable asset” is a common saying in the business world. It means the true driver of a company’s success is the people it employs. While revenue is generated by customers paying for the product or service, it’s the cumulative work of individual team members that makes everything possible.
However, few companies actually optimize the performance of their top asset to the furthest extent possible. The organization may try to motivate its people and monitor productivity but there is much more that goes into building a finely-tuned business where every employee is set up to meet their full potential
According to Harvard Business Review, people analytics is “the use of data about human behavior, relationships, and traits to make business decisions.” A modern business collects data on nearly every aspect of its operations. When it’s all properly analyzed, valuable insights about employees will be revealed that help the organization make small adjustments that lead to positive outcomes.