Business Services Today Focus on Human Resources, Data Analytics
10 Nov, 2020
It’s an unusual situation to be stuck trying to make ends meet while trying to keep down the costs of services that help a business make ends meet..
Businesses are exploring options.
In fact, according to Dunn and Bradstreet research, providers of business support services may actually face competition from customers or potential customers, as these services in many cases can be undertaken in-house with varying levels of success.
The U.S. business services sector consists of about 400,000 establishments with combined annual sales of about $917 billion. Companies in the business services sector include office administration, hiring and placing of personnel, security services, travel arrangement, cleaning, and waste disposal, and, more recently, data analytics.
The hiring and placing of personnel—“head hunters” or human resources companies—is one of the most important business services today as more people shift career objectives and seek new jobs.
Companies are increasingly seeking employees with more technical skills. And they are doing that searching using analytical technologies.
According to Allegis Partners, a global executive search firm, areas of focus for human resources today include programmatic advertising, social search, conversational, artificial intelligence (AI), and automated writing analysis and optimization.
Take programmatic advertising solutions. Here, management applies software to automate the buying process for job ads. Solutions leverage electronic marketplaces, where publishers list their ad space and buyers bid for that space.
Using AI, programmatic solutions arrive at agreed-upon prices and place ads in optimal locations based on user data.
These solutions provide several benefits, according to Allegis. First, they free up recruiter time by intelligently conducting business that previously required human effort. Second, they apply analysis to optimize buying across a broad array of publishing sources, pinpointing opportunities for yielding the most responses (about job seekers) from the given spend.
These AI-driven solutions are fast, analyzing large amounts of data from multiple sources that would not be practical for humans to match.
Companies providing this type of service include HireVue, a global provider of video assessment technology; Blendoor, which is an AI and people analytics provider that mitigates unconscious bias in hiring; and HackerRank, to help organizations identify software engineers and system developers early in the screening process.
There are other ways to use analytics to manage the growth and development of a company beyond human resources, such as hiring a data analytics services company.
Dunn and Bradstreet reminds C-suite management that analytics “is a team sport.”
Decisions about which analyses to employ, what data sources to mine, and how to present the findings are matters of human judgment that more companies are willing to hire as a service.
When looking for help in areas of augmented reality, artificial intelligence, data storage and management—all of which are evolving faster, all of which demand 24/7 attention—the data services company has become the go-to source for not only managing the standard operating procedures of a company but helping them plan for the future.
Examples of data analytics service companies include NTT Data Service, working in healthcare, life sciences, financial services, insurance, manufacturing and the public sector, with strategic alliances with Dell Technologies, HP, IBM, Microsoft, Oracle, and Salesforce; Accenture, with ten innovation hubs, working with supply chain companies and others to provide growth and development strategies; ScienceSoft, to assist companies in developing software and applications; and Insights Analytics, providing small business with product pricing, promotion, placement, sales and profit analysis, along with optimization strategy, and portfolio strategy..