The Role of Data-Driven Decision Making in Enhancing HR Analytics Effectiveness in the BFSI Sector

Abstract

Data-driven decision-making improves the effectiveness of HR analytics which is very essential for the dynamic and competitive BFSI sector. HR functions are transformed by adopting advanced analytics tools and data insights which in turn enables strategic recruitment, workforce planning, and employee engagement. Predictive models and real-time analytics help to improve employee performance, and fill the skill gaps. This empowers HR professionals to make informed and proactive decisions. There is a significant role of data-driven practices that fosters compliance, improves diversity and inclusion, and mitigate operational risks. Data analytics enhances cost efficiency, productivity, and talent retention when aligned with HR strategies and organizational goals. The complex regulatory and operational environment of BFSI sector highlights the necessity of adopting a data-centric approach for sustained competitiveness. Study survey was conducted among 300 people from banking, finance and insurance sector to know the “Role of data-driven decision-making in enhancing HR analytics effectiveness in the BFSI sector” and concludes that there is significant Role of Data-Driven Decision Making in Enhancing HR Analytics Effectiveness.