You need to look at workforce data to intricately understand a company and why it may or might not be succeeding. Sure, there have been significant preference shifts in how people perform jobs. Many organizations have realized that employees need to be more satisfied to increase productivity. However, enterprises still struggle with understanding the organizational workforce.

With the effective analysis of workforce data, you can gain significant insights into the people that make up an organization, and that’s not all. You can compare your organization’s current state with competitors, identify and address key areas that need improvements. In other words, you can look under the hood of any business to see what’s going on.

Understanding the Workforce of Companies

“Companies today derive valuable insight into their own company by analyzing internal HR data, but struggle when trying to compare to competitors, which is indispensable to strategic planning” – Revelio Labs.

To understand your workforce and that of competitors, you need data that can generate meaningful insights. That’s where a talent analysis tool like Revelio Labs is so invaluable.

While some companies internally employ similar software to analyze the workforce, analyzing the competition is impossible. Organizations use different terminology to describe things, so you need standardized language and taxonomies, something Revelio Labs has done. Now companies can better comprehend strengths and weaknesses in a competitive market.

Evaluating Companies and Solving Problems

Revelio Labs has built a technology that can understand the workforce of companies better than the organizations do. The platform gathers employment data from public sources, then structures and standardizes that information. The result is more in-depth insights into the workers in companies and the enablement of comparison with other businesses, offering a competitive edge.

There are numerous applications to the workforce data found in Revelio Labs. Some companies are using it in the following ways.

  • Track salaries to predict cash flow.
  • Evaluate companies to invest in, merge with, or purchase.
  • Track the retention of sales teams in organizations to predict profitability.
  • Identify what workforces are at risk of automation and the people that can be retrained.
  • Spot opportunities for talent acquisition or offshoring.

These are only some examples of how organizations are using Revelio Labs. However, potential use cases for the platform concerning talent analysis is virtually limitless.

Financial Metrics Don’t Tell the Whole Story

Financial metrics are good indicators of performance but don’t show why a company is successful or underperforming. Financial metrics don’t truly show executives how to make a company work more efficiently or replicate its output. Those insights can be found by analyzing the talents behind organizations.

With talent analysis, you can look under the hood to solve problems and identify opportunities that can be leveraged. Revelio Labs provides insights about gender, geography, industry, and other business areas. Your business can use those unique insights to improve overall performance, such as increasing employee retention and propelling growth. Companies can now confidently adopt strategies that will improve efficiency and productivity.