Source | https://huntscanlon.com
Big data is rewriting the script for how companies around the world do business. The market for big data and business analytics is expected to grow to $203 billion in the next three years, according to the International Data Corporation, a marketplace intelligence provider.
It only makes sense that analytics should become an increasingly vital component of the executive search process. Clients have forever been longing for better, more concrete, evidence about whom they should they hire and why. But analytics also reveals a lot about the hiring process itself and where adjustments must be made to produce the best results, and more.
“I find that executives react well to hard data,” said Ian Ide, managing director and partner at WinterWyman. “It’s tangible and sets the stage for a much better conversation. The data provides evidence and allows the client to draw logical conclusions. If parameters of the search need to be changed, the data arms the stakeholders for conversations they may need to have throughout their organization.”
Some of the search parameters that may change include compensation level and reporting structure, said Mr. Ide. “In other cases, mapping the candidate pool and gaining an understanding of the availability of local talent at the outset of the search helps us decide whether we conduct the search nationally or locally, as well as understand what industries might be particularly viable,” he added.
A Baseline Norm
Mr. Ide oversees operations and delivery activities for the Waltham, MA-based executive search firm, ensuring that its offerings are effectively meeting client needs. He also works directly with clients in regard to their executive hiring needs.