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Using metrics from a scorecard are a good start on the road to analytics. You are able to monitor changes over a period of time; however, by utilizing only the scorecards companies will run into serious problems when making major decisions since the scorecard metrics are correlations. By going further and using analytics, these companies can get to the cause and effect of an investment in isolation of all the other variables that also maybe influencing the outcome. Done right, you can also begin to predict with great accuracy (or significantly reduce the error rate) of future investments, thus optimizing your HR investments. Gene Pease Capital Analytics, Inc.
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Oct 14, 2011