People Analytics For Dummies

Chapter 15

Making Better Predictions

IN THIS CHAPTER

Learning the art and science of being right more than you are wrong

Predicting with time series data

Improving predictions with a little multiple regression and the chutzpah needed to ask questions

Predictive people analytics uses people data from the past coupled with statistics to predict what will happen in the future. You reveal patterns to identify future risks and opportunities. The forward-looking orientation of prediction, coupled with analysis of what really matters (Chapter 15) and with action-oriented experiments (Chapter 16) gives you a great jab, left hook, and uppercut combination. With this combination, you can not only win more fights, you also have the power to change the future of your company.

You make predictions all the time — you just do it with a limited number of observations and without checking your work with math.

Here are some examples of the kinds of predictions you have made (or are currently making) without the support of data:

• Whether this orange laundry detergent or that blue laundry detergent ...