Blog – Recruitment and Technology News

Skills shortages and the challenges for businesses using data analytics

Utilising the benefits of data analytics to optimise your workforce

by Mike Jones in Data Analytics 31/12/2018

Data analytics is transforming many parts of a business, with both small and large companies finding the benefits of implementing analytical systems into their organisation.

Skills shortages and the challenges for businesses using data analytics

Recent research suggests that 2.5 quintillion bytes of data are produced every single data and businesses form a large portion of this figure. If companies have the capabilities to utilise this data to its best potential, it can significantly improve operational procedures and ultimately provide clear benefits to overall business performance. What is now quite clear is, data analytics is a core part of a business and a vital factor for success. In fact, investment in data analytics solutions in the UK is forecast to reach £25 billion by 2020. Whilst data analytics isn’t necessarily a new area for businesses, there are many companies that lack the knowledge of how to implement the system and how to use it appropriately. In previous times, a company would hire a dedicated analyst and data professional, but today it is more complex. To really utilise the benefits and optimise a workforce, businesses require analytics to be completely ingrained into the business.

 

Improving quality with analytics

As customer demands continue to evolve, producing a high-quality customer service is becoming ever more challenging. Within analytics, business intelligence and the performance of contact centres are closely related. The capability to utilise analytics for quality management within an entire business, creating improvements to operational procedures creates a competitive edge as well as improving engagement and overall performance. Analytics can help businesses to automatically measure customer engagement and receive predictive analytics to control potential challenging situations. In turn, this helps a business manage handle times, reduce call volumes and even predict problems before they arise.

 

Managing the potential of your agents

Analytics can support enhanced delivery of automation to manage simple processes, freeing up time for employees to focus more time engaging with their customers and requirements. The enables users to develop their own skills and focus their time on more precious interactions. This generally results in improved productivity and enhancement in customer satisfaction. On top of this, managers will have more insight into performance and trend indicators, information that identifies specific issues and skills gaps. This vital information can support training plans, highlight performance strengths or weaknesses and support managers in developing a targeted roadmap for further success.

Simplify business processes

Analytics can ensure managers are capable of discovering specific insights that enable all processes and performance metrics are connected to key objectives in real time. Businesses can successfully manage and avoid challenges that tend to occur for many businesses, such as understaffing issues and producing lengthy reports. Managers can utilise this information to select the most relevant and experienced staff to manage staffing challenges and automatically assigning work patterns based on other relevant data.

Whilst an organised office system is a necessity for most businesses, operations continue to face challenges. According to reports, standard office operations can result in productivity levels of around 50-60%. Analytics software, however, can improve overall productivity by 10 to 25%. Data analytics can manage business issues, generating real time information on operations and showing specific inefficiencies within a business. Data analytics does more than just maintain customer requirements. The insights generated from analytics enable companies to understand they are making the most out of their data to generate the best customer experience but also to improve future talent and maximise overall productivity. In the years to come, analytics will be an essential tool to support organisations in creating the best workforce, to retain employees and improve overall business performance.