- New York University (NYU) has launched a Master of Science in Human Capital Analytics and Technology in its School of Professional Studies Division of Programs in Business. According to a press statement from the university, the 30-credit, online core curriculum was designed to address the rapid changes in human capital management (HCM) and its emergence as a critical business function requiring evidence-based strategies.
- The seven-course master's degree program includes six electives and offers instruction in the latest skills in data analysis and automation, applied research, the foundations of behavioral and organization sciences, and essential management skills.
- Besides current and future trends in human capital analytics and technology, areas of study include the digital workplace, intelligent automation, storytelling with data and other topics.
HR professionals today are expected to have at least basic competency in analytics, as evidenced by NYU's program as well as programs by the Society for Human Resource Management and the HR Certification Institute focused on analytics. But a 2017 survey by OutMatch found that while 95% of HR professionals believe that predictive analytics will help them accomplish their initiatives, only one third can access the technology. This circumstance will need to change if HR professionals are going to leverage data analytics to move their organizations forward.
Analytics has been especially beneficial in hiring. Nearly half of all HR professionals with access to the tech in the OutMatch survey said they use predictive analyses to help them make better candidate selections. Marketing professionals have long used data to sell products, define market demographics, assess market shares and gauge sales results. Technological advances allow HR and other disciplines to use data analytics, too, to make better hiring choices and measure outcomes.
Moreover, a study released in July shows that world-class HR leaders leverage digital technology to improve their operation's efficiency and effectiveness and lower operating costs. This capability, along with aligning HCM strategies with organizational goals, can also raise HR's level of credibility.