IT staffing and recruitment industry in India has seen a lot of changes in trends in recent past. With increasing use of technology, acceptance of social media platforms and introduction of Big Data have actually changed the way the industry used to operate in past. Since the size of data has increased multifold (be it from social media forums, be it from internal processes or from any other source for that matter), the interest in leveraging big data and analytics in HR and recruiting is gaining significant steam. With increasing intervention of all these factors, recruitment which earlier considered as an art, it is now turning into science.
For an immature market such as Indian Staffing and recruiting market, the concept of using Big Data to improve and streamline their daily and top management related processes is still in very nascent stage. Though some have started to incorporate the concept of Big Data on their strategy & operations but still not many companies are actually using the big data to the full potential.
When it comes to use of Big Data, there lays a big confusion as many consider Big Data and Analytics as same thing. But the fact is that, both are two different things.
“Big Data is not Analytics”
To clear the confusion between the two terms, Let`s pick them up one by one and see what they actually stands for.
- As per Wikipedia, Analytics refers to the discovery and communication of meaningful patterns in data, which can be achieved with any data set, “big” or small.
- Everyone who has done some sort of analytics in any part of their career feels like they can easily manage with this new and heavily hyped concept of Big Data, which is actually the top used buzzword in recent past across the industries.
Going by the definition which Wikipedia stores for the term “Big Data” actually adds more to the confusion. But to understand it in a better way, one needs to go beyond the definition of big data. As they say in IBM, Big Data revolves around 3 V`s: Volume, Velocity and Variety. But the million dollar question is, how are these 3 V`s actually helpful for staffing and recruiting space????? Read More