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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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Turning Data into Compensation Information

MARTIN G. WOLF

As more organizations take advantage of the availability of all types of big data, the data flow can feel as if you are drinking from a fire hose. If they are to make compensation decisions that can increase competitive advantage and lead to greater business success, what compensation practitioners need is appropriate data and valid information—something not easily achieved.

This chapter will assist readers in the difficult task of extracting usable information from data in four ways, by

1.   Reviewing some basic statistics useful for understanding compensation data

2.   Identifying ways to avoid misleading or erroneous data

3.   Recognizing the difference between data that are readily ...

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