How To Use Survival Techniques and Methodology in Big Data Analysis - Dr. Michael Housman
Studying the workforce properly is absolutely a science and not an art. It starts with combining large datasets from multiple sources and then applying state-of-the-art econometric techniques to that data in order to extract valuable insight. Without having a rigorous methodology in place, organizations may be at risk of generating spurious conclusions and then acting upon them in a way that produces non-optimal outcomes.
In this video insight, Dr. Housman outlines his methodology for pulling that data from clients, applying econometric techniques, and then interpreting those results. He offers up an example that he encounters on a daily basis: running an analysis of how long people stay on the job. Although many players in this space measure turnover, he finds that it's useful to apply survival techniques because they produce more accurate estimates from smaller samples sizes and allows the analyst to engage in multivariate analyses.