CHICAGO, Ill. (SEND2PRESS NEWSWIRE) — 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/ .
About KnowledgeAdvisors:
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 .
Plain text copy of press release (and media contact)
PDF copy of press release (and media contact)STORY REFERENCES: Gold Strike! Mining L-and-D Data, learning and talent measurement solutions, talent management analytics, complimentary white paper, CEO Kent Barnett, Human Capital Analytics, Metrics that Matter system, report, whitepaper
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For organizations that utilize learning and development to drive business outcomes, KnowledgeAdvisors offers learning measurement software that improves the effectiveness and business impact of learning. Unlike the standard reporting and dashboard features included in most learning and talent management software, we combine data from multiple enterprise systems with information collected through evaluations and assessments to paint a complete picture of learning and business performance. KnowledgeAdvisors can even benchmark your learning programs against other organizations. We offer essential services to our clients to help them create high quality measurement practices. Best Practice: KnowledgeAdvisors is a trusted source of thought leadership for evaluating the effectiveness of critical human capital initiatives such as learning and development, employee engagement, talent acquisition, competency management, performance management and leadership. Our software exceeds industry standards for quality and elegance. Our learning measurement solutions provide valid, reliable and predictive business intelligence. And our consulting services are built on proven business models such as six-sigma and continuous improvement. Cloud Computing: Metrics that Matter®, our flagship software solution for human capital process evaluation, utilizes a “cloud-based architecture” to enable easy implementation and integration with other enterprise software systems (including LMS, HRIS, Integrated Talent Management Suites, CRM, ERP and more). Integrated Reporting, Business Intelligence and Analytics: Metrics that Matter® integrates data from multiple enterprise systems (including LMS, HRIS, Integrated Talent Management Suites, CRM, ERP and more) with information collected through evaluations and assessments to paint a complete picture of learning, talent and business performance. Analysis is rendered through automated dashboards, scorecards and detailed reports that can be customized for every role in your organization from executives to front-line managers. Informal and Social Learning Measurement: Metrics that Matter® reaches beyond formal learning programs and learning management systems to measure learning effectiveness in informal and social learning environments. Benchmarking: Metrics that Matter® includes a benchmark database with over 750 million external data points and 100 standard reports. Benchmark data can be sliced by industry, course type, job function and more; providing learning & development experts with the opportunity to compare learning effectiveness against external averages. To understand who we are, KnowledgeAdvisors has put together an educational podcast series. Click Educational Podcast to subscribe today. Our clients represent many of the world’s leading organizations, including four of the five largest accounting firms, three of the last five winners of Training’s Top 125 Award, the world’s largest company, and the most prestigious US Defense Department University. Our clients know that working with KnowledgeAdvisors helps them to achieve the highest-performing workforce. MEDIA CONTACT: Eric Bush, Director of Marketing KnowledgeAdvisors +1-312-676-4416 ebush @ knowledgeadvisors.com
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