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SigmaWay Blog

SigmaWay Blog tries to aggregate original and third party content for the site users. It caters to articles on Process Improvement, Lean Six Sigma, Analytics, Market Intelligence, Training ,IT Services and industries which SigmaWay caters to

Can Indian market overcome the layoff in IT industry?

In the present scenario, as the layoffs are going on in IT industry, economists predicted that Indian market can absorb it in the next 2 quarters. But the recruitment will rise more for senior-level and CXO compared to entry and middle-level hiring because of disruption by automation. Companies should effectively and continuously measure the quality of their hires with productivity evaluation, feedback from hiring managers, employee retention. Also, to retain the employees, employer branding is necessary. This cannot be achieved overnight, and takes a sustained effort from all existing employees to create. For this, of course, the right sort of environment needs to be created at the workplace. It will make it easier to attract the best people. Read more at: https://www.entrepreneur.com/article/295600

 

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Must have skills for Data Scientists

In today's world Data Scientist is the most- desired workers in IT industries. Since the demand for such skills is high, this has become a desired job for the potential candidates as well. So here are some skills which will increase your chances of hiring, if you want to become a Data scientist - SQL, Hadoop, Python, Java, and R. Not only these, but MapReduce, Hive and Pig skills which will increase your desirability as a data scientist. So, gear yourself up and start working and learning these skills to become a data scientist. Read more at: https://adtmag.com/articles/2016/01/08/data-science-skills.aspx

 

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Big Data vs. Human Spirit

Big Data Analytics which is nowadays so useful in sports, also couldn't save England cricketers during their recent World Cup match against Bangladesh. The then coach of England, Peter Moore started believing in numbers more than the spirit of the cricketers. But a great-turnover came up over the team when they defeated New Zealand in a series of one-day match by 3-2. Both teams broke one-day records and entertained the English cricketing public like never before. This wasn't done by analysis of numbers but by abilities of cricketers. Thus, Big Data is all-time powerful but can never be more than what human spirit is. Same example goes for recruitment. Read more about this article by Matthew Reaney, Director and Founder (Big Cloud) at: https://channels.theinnovationenterprise.com/articles/big-data-and-the-human-spirit

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Big Data: Changing Recruitment Process

These days recruiting a new employee accounts for a huge investment by the company. A major section of the company’s revenue is spent on staff salaries. Thus with improvement in technology, improved strategies and planning can be used in the recruitment process.
Klout scores are used by companies to rank users according to their social influence, especially for recruitments in sales and marketing roles. Gild is another service used in the field of technical programming jobs. In this, service software development professionals are assessed based on their contribution to public and open sources and their experiences in the past.
Thus Big Data helps in eliminating the guess work in the recruitment process thus finding a more scientific approach of recruiting staff.
Read more at: http://www.smartdatacollective.com/bernardmarr/327498/how-big-data-changing-recruitment-forever

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Investment banks recruit for rise of big data analytics

The investment banks are now looking at how they can use big data to do what they do better, faster and more efficiently. Senior executives at the banks want to enhance how they use data to raise profitability, map out markets and company-wide exposures, and ultimately win more deals. Big data is also a fundamental element of risk-profiling for the banks, enabling data analysts to immediately assess the impact of the escalation in geopolitical risk on portfolios and their exposure to specific markets and asset classes. Specifically, banks have now built systems that will map out market-shaping past events in order to identify future patterns. There lies the requirement of big data talent!

The banks are actively recruiting big data and analytics specialists to fill two main, but significantly different roles: big data engineers and data scientists. Data Scientists are responsible for bridging the gap between data analytics and business decision-making, capable of translating complex data into key strategy insight, while Data Engineers typically come from a strong IT development or coding background and are responsible for designing data platforms and applications. The competition between banks and fund managers to hire big data specialists is heating up. Data scientists are expected to have sharp technical and quantitative skills. They are in highest demand and this is where the biggest skill shortage exists.

To read more, visit the link given below:

http://www.computerweekly.com/opinion/Investment-banks-recruit-for-the-rise-of-big-data-analytics

 

 

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Job seekers to understand Big Data to get noticed!

Despite having the technological advancements which makes the process of job finding easier and user friendly, the whole thing is not so easy and in many cases it's more complicated. Here comes the role of Big Data which is now making its way into the field of recruitment and helps recruiters to find best people for the right positions. Some companies receive thousands of resumes for a single post and with such a huge number of resumes, companies are engaging in people analytics, applying big data analytics practices to a field of prospective job seekers. Many businesses build their own resumes of candidates by identifying details from people's social media profiles on Facebook, LinkedIn, Twitter, and other sites. From these profiles, companies use big data to identify patterns of behavior, interests, skills and attitudes that they are qualifying factors for current and future job openings. So, job seekers need to manage their profiles to get a job. But, as a negative impact, there are concerns over relying on it too much and as a matter of fact a heavy use of big data also takes factors like race, gender, and religion out of the equation. However, despite the drawbacks big data is of vital importance and job seekers should put themselves in a position to take advantage of big data and utilize it to get noticed.

Read more at:http://analytics.theiegroup.com/article/53b522e83723a80d7e000065/The-Modern-Job-Hunt-How-to-Beat-the-Big-Data-System

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Now Big Data to change the way you hire, fire and promote

Enterprises hire  lots of people, but in a world where change happens fast and often, they can’t anticipate every need. One solution is to hire contractors for new or temporary projects. But that involves recruiters finding people—but they won’t already know the company’s systems and culture. A better way is to find someone in-house, but in a company with hundreds of employees, that can be difficult—unless you let big data do the heavy lifting.

Progressively, organizations are doing simply that: Big Data is helping them match positions to existing representatives' profiles. Organizations are utilizing HR programs that change the representative profile from ignored comfort into an effective instrument giving them a chance to discover abilities that don't match a specialist's set of expectations or even their delineation toward oneself. They work by scouring social-media profiles, forums, blogs and comments across the Internet, to unearth talent that’s under their own roof—but they just didn’t know it. For a detailed article on this topic visit: http://www.theatlantic.com/magazine/archive/2013/12/theyre-watching-you-at-work/354681/.

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Recent comment in this post
Nitin Sinha
Thanks For Your valuable posting, it was very informative. Am working inErp Development Company In India
Tuesday, 18 August 2015 06:35
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Worried over increasing nurse retention rate? Think Analytics!

We all know that Big Data and Analytics help businesses a lot. Now let's take a shift. Big Data and Analytics also help in retaining nurses. Sounds interesting, right?

 Based in Dallas, Texas, Tenet Healthcare used Predictive Analytics to increase nurse retention rate. You know very well how much it costs to recruit new employees. Few years ago, American Organization of Nurse Executives estimated that in conservative approach, direct recruitment fees cost $10,000 to replace a nurse; and if you take indirect costs into account, the actual cost will mount to $42,000. This cost escalates to $64,000 for hiring specialty nurse. Now, just imagine, if your organization wrongly recruits a person, or if your employees leave your organization too early, how much more will it cost you, given that you give expensive training to them. In fact, Tenet observed that many high quality nurses were leaving them due to which they incurred considerable cost and also it caused inconvenience to patients and other staff members.

To mitigate this problem, they used Predictive Talent Analytics and Big Data. Tenet took an assessment test for their nurses creating behavioral DNA or a thumbprint which the software then matched with individuals’ performance data. From this, Tenet got an insight of a list of characters which are common to best performing nurses within each specialized category. So, you may be thinking what are the benefits they reaped from it? Read them at http://www.informationweek.com/healthcare/analytics/nurse-retention-rate-improvement-secret-analytics/d/d-id/1234912  to know.

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Big Data: a must have skill in your resume!

Tired of hearing about Big Data? Accept it or not, you have to get used to it. Hundreds of companies are ready to offer impressive remuneration to hire people with quantitative skills. Ms. Linda Burtch, with her 3 decades of experience in recruitment, has tracked the rising demand for workers who can understand and manipulate data. In a recent interview, Chicago-based Ms. Burch talked about what companies want, how midcareer professionals can compete and why workers who are left behind could face a "permanent pink slip."

To read more, visit the following link:

http://online.wsj.com/news/articles/SB10001424052702304819004579489541746990638?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304819004579489541746990638.html

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Utilization of analytics in recruitment

To find the best tools and techniques for appropriate human resource selection must be the prime focus of a HR manager. The enhancement of the recruitment process can be attributed not only to the social media techniques but also to the data analysis, redefining recruitment. Data analysis helps in making accurate decisions faster which ultimately leads to a proactive business. The employee turnover can be reduced by analysis of the proper reason using sentiment analysis. Predictive analysis helps in eliminating the guesswork factor.

For more information please go to

http://theundercoverrecruiter.com/big-data-recruiters/

 

 

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