Elements of Typical Workforce Intelligence Software

by Revelio LabsJuly 20, 2022

Are you looking to leverage modern workforce intelligence software? Revelio Labs is a perfect solution. We absorb and standardize hundreds of millions of employment records to create a universal HR database. The benefits extend beyond the HR department. You can use our lab to benchmark or compare your organization with competitors.

Workforce intelligence involves using artificial intelligence bots to collect and analyze data sets on work patterns. The gathered data can help organizations analyze, automate, and improve various aspects of the business. Data also informs decision-making and provides indicators to assess all business operations accurately.

4 Elements of Workforce Intelligence Software

Typical workforce intelligence software features various elements, including data and AI (artificial intelligence) bots. Workforce intelligence also leverages sophisticated analysis algorithms, automation software, reporting tools, and other tools. Here’s an overview of four primary elements of modern labor force intelligence software:

1. Data

Workforce data is at the heart of our intelligence software. Revelio Labs absorbs data from public employment records and allows organizations to access the information in standardized forms. Workforce intelligence is impossible without data since the software is designed to gather and analyze information. Our intelligence software works with three types of data: structured, semi-structured, and unstructured.

Structured data refers to data that conforms to a particular format or code. The data set is numerical or formulaic and easily understood by machine learning. Employees have many fluid aspects about their operations, but some, like time clocked in, are highly structured. Workforce intelligence tools can examine structured data, like online habits, browser history, and activities, to assess working hours.

Unstructured data sets refer to qualitative data from informal conversations, social media posts, and emails. The data is more "human" and not the conventional format for machine learning, but it provides a true reflection of the workforce.

Semi-structured data combines quantitative data with variable qualitative (human) inputs. Examples include data pulled from employee surveys featuring human inputs and numerical data.

2. Analytics

The data gathered from different sources must be analyzed and sorted into information asset managers can understand. Analytics involve the process of grouping data into meaningful categories for easy computation. The process also makes it easier to discover, interpret, and communicate patterns in the data. Analytics rely on sophisticated algorithms and artificial intelligence. Asset managers can apply the data patterns when making decisions.

The goal of analytics is to examine the gathered data for trends and draw conclusions about what information the data contains. At Revelio Labs, we analyze millions of data to help you understand workforce dynamics. Our workforce data provides insights on attrition trends, career transitions, company and geographic compositions, diversity, and more. Intelligence software comes from grouping and analyzing the data.

Workforce intelligence tools speed up the sorting and analysis process. The software leverages the computational ability of modern processors to scour through millions of data quickly. Company leaders can easily search for specific metrics. The software allows you to organize the relevant data if you want to improve a particular area. The software also presents the information in concise, readable formats.

3. Reporting

Labor force intelligence software sorts data into meaningful information that HR leaders, investors, and corporate strategists can understand. The information is presented in daily, monthly and periodic reports. Revelio Labs is a universal database with employment records and public organization data. You can pull reports, graphs, charts, and other representations about different business aspects.

Reporting provides a simplified representation of the data and can be used for people intelligence, project intelligence, and pursuit intelligence. The reports can show real-time visibility of historical projects and records. HR teams and managers can also review the statements to track and evaluate performance across various activities. The workforce intelligence tools allow the integration of key performance indicators and triggers.

Regular reporting keeps the management team updated and ready to intervene if the workforce falls behind on its objectives. Asset managers can also look into past and current trends, competitor strategies, and forecasted developments. All data gathered and analyzed by the software is delivered as reports. At Revelio Labs, we allow companies to generate random, standard, and custom reports to assess all workforce components.

4. Automation

Workforce intelligence software is inseparable from automation because all software applications are autonomous. The tool absorbs millions of data from multiple sources and computes them into meaningful information. Workforce software also presents the finding in simple reports that are easy to digest. The tools rely on autonomous capabilities to complete redundant tasks without manual intervention.

Data collection, analysis, and presentation are automated processes that rely on artificial intelligence. Revelio Labs leverages modern automation technologies, including cloud-based applications, APIs, big data, AI, and machine learning. You can use a simple interface dashboard to get snapshots of company workforce composition and trends. The information is generated automatically using sophisticated algorithms.

Our platform uses automated technologies to give you instant access to workforce data and analytics. You can benchmark to competitors, view real-time spikes in hiring and attrition, and track offshoring and outsourcing. Revelio allows you to request information about any company and track changes from month to month. The data is automatically updated monthly, and business managers can access it anytime.

Revelio Labs Workforce Intelligence Software

Each workforce intelligence tool has distinct features and elements. At Revelio Labs, we focus on workforce data analytics, allowing businesses to track workforce changes in real time. With our software, you can track companies hiring and see when they're losing talent. You can also track offshoring, outsourcing, growth in new markets, workforce composition, and other metrics.

With hundreds of millions of standardized data at your disposal, you can build custom reports for single or multi-company intelligence. You'll have instant access to raw data, which is vital in making investments and successful bids into companies. We aim to help you track workforce dynamics more efficiently by accessing robust and current workforce data.

Request a Demo

Are you looking for reliable workforce intelligence software to compare new investment opportunities? Maybe you need information about a specific company in a similar industry. Workforce data has many uses, so you need to find the information that matters to your needs. Request a Revelio Labs demo or contact our data consultants to take advantage of the world's first universal HR database.

Request a demo to explore Revelio Labs workforce data