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The Compensation Handbook, Sixth Edition: A State-of-the-Art Guide to Compensation Strategy and Design, 6th Edition by Dorothy Berger, Lance Berger

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47

Using Workforce Analytics to Make Effective Compensation Decisions

DAN WEBER

Radford, an Aon Hewitt Company

In today’s rapidly changing economic environment, businesses looking to improve operational efficiency and better strategic planning are increasingly seeking to leverage the concept of big data—combining information obtained from external and third-party sources, customer and client interactions, and internal processes—to analyze new opportunities, test and refine business models, and make decisions. Using sophisticated software and transactional data from such diverse sources as customer loyalty programs, web communities, and social media, companies are experimenting with changes to products, processes, and client interactions and ...

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