In recent years, the prominence of Business Intelligence has grown tremendously. Business Intelligence has already marked its presence over numerous industries; including recruitment for good. From bringing a modern perspective to data visualisation, business users of this era have become smarter with the inclusion of ‘Big Data’ in this platform.
Data science has enabled recruitment industries to streamline their operations and analyse risk. It also helps in tracking future job market trends, studying client behaviour, tracking financial performances, and employing data-driven insights.
Additionally, job market data analytics aids you in making faster decisions. Hence saving you from spending endless hours in manual reporting through spreadsheets. Simultaneously, business intelligence tools automate open orders, billing metrics, gross margins, and job applications. Henceforth, allowing you to pay attention to what is important for your business.
Benefits of BI solutions-Grow your recruitment business and acquire new clients
As per the survey conducted by PwC, businesses that employ data-driven decisions are more likely to be successful. So, clearly gone are those days, when decision-makers made crucial decisions trusting their instincts only. Also, to lead a successful business, it becomes equally important to augment your decisions with both strategy and instincts.
Evidently, as a decision-maker, it becomes highly tiresome in assembling all the data located in various locations. Now, this is where business intelligence helps. Through BI solutions, you attain valuable talent market insights and estimate future trends effortlessly. Additionally, you can also conduct competitor analysis, carve your path to success and visualise all these are more in real-time. Henceforth, applying UK labour market intelligence in the recruitment industry allows quicker decisions that are purely based on real-time, accurate data. And not on some trial and error method.
By leveraging BI solutions staffing and recruiting companies can:
Gain a better understanding of their own company:
Through labour market data analysis, businesses can not only understand their client’s strategies and behaviour but also know themselves well.
Reduce waiting time:
BI tools cease the need of sifting through the spreadsheets, assembling and writing reports. Likewise, with the power of data, you can stay ahead of your competitors as the job market data is available to you all around the clock.
Make complex labour market data easy to comprehend:
Lucky that information stored in the data warehouses are significantly easy to consume even to the non-technical users. Correspondingly, BI tools will process the raw talent market data into comprehensible formats such as graphs and charts.
Attain 100% transparency:
Owing to data science, labour market data visualisation has become transparent to everyone. Hence assuring that everyone stays on the same page.
Understand clients’ behaviour:
Know your clients’ requirements. Similarly, understand the reason they do or do not engage with you to improve your strategies.
Your database can be your gold mine of opportunities. With data, you can know where you stand in terms of growth. Furthermore, you can also find out whether your current strategies have been helping you or not. Additionally, understand the strengths and weaknesses of your team, possibilities of geographic expansion, new market niche, and much more.
Enhance the decision-making process:
Stop assembling data or sifting through the spreadsheets. Business intelligence tools allow the decision-makers of recruitment firms to make faster, efficient and confident decisions.
How fatraven’s talent market intelligence tool empowers the decision-makers?
With years of quality experience in this sector, we clearly understand the fluctuations of the recruitment industry. fatraven’s Intel, a competent talent market intelligence tool has empowered numerous businesses in the UK labour market. They can now analyse this vast talent market and make smarter business decisions.
These businesses have made use of our customisable features to sail smoothly through the ups and downs or the needs and challenges that arise in this labour market.
With Intel, as an agency or a direct company, you can incorporate job market data from various streams. And develop bespoke reports that help you in gathering accurate data and becoming empowered decision-makers.
Incorporating labour market data into your business intelligence strategy will help you recognise:
- Jobs high in demand.
- Jobs with maximum salary growth.
- The hot spots in your region.
- Client’s area of focus.
- Better strategies for candidate lead generation.
Incorporating job market data from the direct company into the BI tools will help you recognise:
- Companies receiving funding from investors.
- New companies and filter them by sector and region.
- Clients with good financial conditions.
Incorporating talent acquisition data from the agency into your business intelligence tools will help you recognise:
- The number of jobs published in a specific sector.
- The total number of agencies in your market.
- The number of prospective companies you can collaborate with.
- Types of jobs produced by key clients.
- Compare the posting activity of your agency with your competition.
To illustrate, here’s a snapshot of how you can compare among various agencies:
- First, select the desired date using the date filters.
- Next, by using the agency filters, choose the agencies.
- Then witness the job postings according to their region and sector.
With Intel, you can effortlessly select two or more agencies to compare and get their detailed stats.
Here’s another AI-powered tool by fatraven that’s worth mentioning for staffing and recruiting companies who want to stay at the forefront. fatraven’s salary benchmarking tool, an exemplary tool to identify the hidden job market insights. Without any doubt, this is one such competent tool that helps set competitive salary packages.
In addition, salary benchmarking derives talent market insights from a huge repository of vacancy data dating back more than a year.
To Conclude-The Smarter the Better:
With smarter job market data analytics, businesses of all sizes can be driven towards achieving their targeted goals. Moreover, being a cloud-computing platform, BI solutions have become vastly affordable.
From improving your business operations to getting a structured method to grow your revenue, having an edge over your competitors to improving the customer service quality, the benefits of incorporating BI into your business operations are surely innumerable.