Descriptive, predictive, and prescriptive statistics allow us to “manage tomorrow, today” (Pease, Byerly & Fitz-enz, 2012). They can help us see what currently is and show us a path on how we can be more successful tomorrow.
To complete this Assignment, review the Learning Resources for this week and other resources you have found in the Walden Library or online, then respond to the following bullet points in a 2- to 3-page paper:
What is the goal of a descriptive statistic?
Provide an example of a descriptive statistic HR may use (besides turnover).
Identify another variable that can be employed to provide more insight (Pease, Byerly and Fitz-enz refer to this as “stats on steroids”).
Imagine you could look into the future to see if trends continue. What impact could an understanding of this data have for the organization?
References: https://www.analyticsinhr.com/blog/14-hr-metrics-examples/
https://www.youtube.com/watch?v=8B271L3NtAw
Pease, G., Byerly, B. & Fitz-enz, J. (2012). Human capital analytics: How to handle the potential of your organization’s greatest asset. Hoboken, NJ: John Wiley & Sons.
Chapters 5, “What Dashboards Are Telling You: Descriptive Statistics and Correlations” (pp. 101–116)
Chapters 6, “Causation: What Really Drives Performance” (pp. 117–131)
Appendix A: “Different Levels to Describe Measurement” (pp. 171–180)
Appendix C: “Details of Basic Descriptive Statistics” (pp. 193–198)