Businesses have been using data analytical tools for a very long time for tracking revenue, generating growth opportunities, improving their customer engagement, etc. However, it is equally essential to improve employee engagement, performance, streamline recruitment processes, etc., by analyzing and gaining insights from the people’s data.
You can also use an HR analytical tool to aggregate and analyze workforce data. The valuable insights gained from the data can be used to improve and optimize workforce management. Here is the list of HR Analytics Tools for Business in 2023 that you can consider for analysis.
What are HR Analytics Tools?
HR analytics tools are designed to help HR professionals with tracking, collecting, and analyzing HRs data to get insights and optimize workforce management. It aggregates data from different systems such as payroll, performance management, financial reporting, and ATS to process it and find meaningful trends. Workforce analytics software tracks and analyzes data around employee management, talent acquisition, performance management, employee training, and much more.
The data gathered and analyzed through the workforce analytics software can help businesses to improve retention rates, meet organizational goals, improve hiring and recruitment procedures, and much more.
Best HR Analytics Tools for Data-Insights
Here are some of the best HR analytics software you can use for your organizational needs.
- Power BI
- Qlik Sense
- Visier People
- IBM ILOG CPLEX Optimizer
- Oracle Fusion HCM Analytics
IntelliHR: Best for performance analysis
IntelliHR is a human capital management software that lets HR professionals create reports for their employees’ performance and aalso, satisfaction metrics. With its people analytics module, users can create surveys for employee’s performance, generate the net promoter score get tasks completion statistics.
- Real-time analytics
- Centralized people data and records
- Support for predictive analytics
- Automated compliance management
IntelliHR Pros and Cons
- You get performance summaries of all employees along with goals, feedback, and achievement through a single click.
- It generates automated reports to get valuable insights on employees and organization data.
- Easily create customized onboarding workflow to deliver policies, get certificates, personal information, and much more
- It takes time to transfer data into the system.
- Limited reporting functionalities
No free plan available| Paid plan starts from INR 453.88 per user per month
Excel: Best for storing and monitoring data
Excel by Microsoft helps users to represent and organize different data types via spreadsheets. Users can organize data with pre-configured data visualization templates. The representation of data through compelling charts, graphs, and tables lets users picturize their data in
a better way. Further, with image recognition capacity, you can capture data directly from the mobile and get fully organized spreadsheet.
- Simplifies financial and accounting analysis
- Multiple formatting options
- Support for data annotation and edit
- Real-time file sharing and editing
Excel Pros and Cons
- You can create different data charts through various layouts and styles.
- Easily perform complex calculations with modern Excel formulas.
- Difficult troubleshooting
- Prone to human errors
Free plan available| Paid plan starts from INR ₹ 11,999.
Suggested Read: List of 25 Best HR Software In India – HRMS Software for Businesses in 2023
Tableau: Best For: Data aggregation and visualization
Tableau is a visual analytical tool that allows businesses to share and manage their data in a hassle-free manner. It comes with fully integrated data management, visual analytics, data storytelling, and collaboration features to simply data aggregation and visualization. Further, Tableau could help HRs with managing content and certifying data sources, migrating content, receiving data-driven alerts, etc.
- Curate and share data sources
- Manage users and permissions
- Real-time commenting
- Data editing and modifying
Tableau Pros and Cons
- You can easily download the aggregated data.
- It lets you interact with data through visualization.
- Quickly develop and publish data sources with Tableau.
- No custom visual imports.
- Screen resolution not suitable for all platforms.
Pricing on request
Power BI: Best for: Data visualization
Power BI by Microsoft is a data visualization software helping HR teams with aggregating, organizing, analyzing, and visualizing different data types. This end-to-end BI platform helps with sharing data sets, displaying data through charts and graphs, and customizing data visuals to name a few . The data consolidated through Power BI can help people to gain valuable insights.
- Built-in AI capabilities
- End-to-end data encryption
- Data access control monitoring
- Pixel-perfect paginated reports
Power BI Pros and Cons
- It provides data insights from both structured and unstructured data with AI.
- You can easily transfer data from Excel to Power BI for better data management
- Complex calculation formulas
- It takes time to get familiar with the interface.
Free plan available| Paid plan starts from INR 824.36 per user per month.
SPSS: Best for data analysis and insights
SPSS is one of the best HR data analysis software to help HR teams with advanced data aggregation and analysis. With features like data conditioning and visualization, identifying data anomalies, bootstrapping, etc., it helps organizations with actionable data insights and quality decision making. Further, HRs can use this analytics tool for preparing employees data and creating predictive data models.
- Advanced data preparation
- Linear regression
- Data access and management
- Bayesian statistics
SPSS Pros and Cons
- It helps you predict trends through analysis and time-series data.
- You get automated data preparation with SPSS.
- Students’ subscription is a bit expensive.
- Training is required to get familiarized with all features
Paid plan starts from INR 8,175.55 per user per month
Qlik Sense: Best for data aggregation and business intelligence
Qlik Sense is a data analytical tool used by HR teams, managers, etc., for data aggregation and analysis through AI (Augmented Intelligence). It helps them to optimize compensation and benefits, create predictive workforce planning, get accurate forecasting, etc. With employee survey data, you can quickly analyze employee skills and gaps, monitor their progress, find improvement areas, and more.
- Data integration from multiple resources
- Auto data creation and preparation
- Support for search and conversational analytics
- Support for Co-content developing
Qlik Sense Pros and Cons
- It supports location-based calculations to get geographical insights.
- The solution represents and optimizes all data for multiple screen sizes with innovative techniques.
- Get valuable insights for any problems or issues with AI-based insight advisor.
- Too much memory is used while performing analytics
- Sometimes unauthorized access is granted due to technical glitches
No free plan available| Paid plan starts from INR 2,480.48 per user per month
Suggested Read: What is HR Analytics: Definition, Types and Benefits
Visier People: Best for people analytics and workforce planning
Visier People is one of the most popular HR analytics tools that assists HR teams with people analytics and workforce planning. It aids them in answering critical questions by providing relevant answers to people’s questions.
- Unified people’s data across organization
- Convert the data into useful answers
- Timely recruitment data insights
- Accurate recruitment forecasting
Visier People Pros and Cons
- It helps you to find factors for absenteeism, turnover, and turnover rates through employee’s data analysis.
- You can easily identify patterns, trends, and anomalies in your workforce planning.
- With Visier People, you can easily develop employees career roadmaps
- Limited storage features
- Does not function properly in the mobile application.
No free plan available| Price on request
ChartHop: Best for managing people’s data
ChartHop is an HR analytical tool that helps users to access and analyze all the employees’ data through a single solution. It collects the employees data from various resources and generates intuitive reports to get valuable insights about them. Further, this workforce analytics software helps you to create data-driven workforce modeling and forecasting.
- Collect information from multiple sources
- Trends tracking for compensation fluctuation and performance ratings
- Data access control
- Role-based access controls
ChartHop Pros and Cons
- Create performance reviews and reports through pre-configured templates.
- It lets you easily transfer all your recruitment data from your Applicant Tracking solution.
- You can also create organizational charts with multiple filters
- Data does not sync properly
- Limited templates to create organizational charts
Free plan available| Paid plan starts from INR 661.32 per employee per month
Suggested Read: 7 Best Free HR Software for SMBs on Tight Budget
FineReport: Best for BI reporting
FineReport is a report making software that lets users create and manage complex data reports through the basic drag and drop functionality. This HR analytical software can be used for transferring massive data sets into databases, get multi-dimensional insights with data filtering, represent organizational data through 3D charts, etc.
- Data visualization with HTML charts and dynamic effects.
- Real-time data visibility
- 50+ configured charts for data representation
- KPIs visualization for organization performance
FineReport Pros and Cons
- You can assign and manage role-based permissions for reports.
- It lets you represent different data metrics through a centralized dashboard.
- You can easily visualize geographical business data through static and dynamic maps
- Windows crashes occasionally
- UX designing needs improvement
Free plan available| Paid plan pricing on request
IBM ILOG CPLEX Optimizer: Best for prescriptive analytics and decision optimization
IBM ILOG CPLEX Optimizer helps users to find the best solutions from multiple business alternatives available by providing high-performance data modeling. It uses decision optimizing technology to help businesses to find the right course of action for a specific business situation. Businesses can use it for data modeling to optimize their business decisions and final the most appropriate decisions among alternatives .
- Performance benchmarks
- Resolve multi-objective problems
- Conflict finder and resolver
- Modeling assistant
IBM ILOG CPLEX Optimizer Pros and Cons
- It lets you resolve hierarchical, blended or the combination of these problems.
- You can get performance improvements through mathematical programming, constraint programming solver, etc.
- Get AI assistance to improve the model’s point of view.
- Too complicated to use
- Data handling from multiple resources is difficult
Free plan available| Paid plan starts from INR 16,423.28 per authorized user per month
Oracle Fusion HCM Analytics: Best for workforce data management
Oracle Fusion HCM Analytics is an HR analytical tool helping HR professionals with analyzing workforce data and getting valuable insights. The insights derived can be used for making decisions related to workforce diversity, employees’ retention, compensation, talent acquisition, and much more. Further, it can be used for recognizing skills gaps, monitor internal mobility, analyze career path trends, etc.
- Organizational health checks
- Workforce dynamics analyzing
- Employee engagement analyzing
- Anomalies detection in patterns and trends
Oracle Fusion HCM Analytics Pros and Cons
- You can analyze the risk and impact of the loss of top performing employees.
- It lets you easily view salary distribution and find inequalities and stagnation.
- You can easily develop a learning program that complements the organization’s goals.
- Frequent errors while visualizing data
- Limited templates to measure employee performance
Oracle Analytics Cloud for Enterprise starts from INR 6,537.904 per user per month
Important Features of HR Analytics Software
- Data Security: HR analytic tools comes with advanced security protocols such as encryption, TLS, SSL, etc. This helps to keep all the data, including employee’s personal data, organization sensitive information, or promotion history, safe and secure.
- Data Visualization: The solution should offer multiple visualization options including graphs, charts, tables, etc., to represent complex data into an easy-to-understand format.
- Data aggregation: With HR analytics tools, HR professionals can easily aggregate data from various resources like payroll, ATS, etc., for better view and analysis.
- Workforce planning: It lets you develop and manage workforce planning for recruitment, employees training, performance management, etc., based on predictive analytics.
- Predictive Analytics: The support for HR predictive analytics will help HR teams to study past trends from historical data and predict future outcomes.
- HR Digitization: It helps in improving the digital experience of employees by providing them with a separate portal. With this, employees can apply for leave, check for leaves balance, download pay slips, mark their attendance, etc.
Suggested Read: 14 Best Employee Management System for Small Business in India
How HR Analytics Tools Optimize Workplace?
HR analytics tools can help businesses to optimize workplace in the following ways-
- It helps them in improving employee retention rate by analyzing career paths, work culture, salary structure, etc.
- Workforce analytics software can create predictive models to find the reasons and costs of workforce absenteeism.
- It can help to measure the ROI for the amount spent on training, hiring, and business operations to avoid resources overspending.
- HR analytical tool promotes fast hiring by identifying relevant traits and experience specific to the job role.
- You can create learning programs for your employees after identifying training requirements and business goals.
- It helps businesses to become completely paperless by storing and maintaining all the data in an online database.
- HR analytical tool helps in eliminating manual intervention as all the data is stored and key HR tasks are automated.
How Much HR Analytics Tools Cost?
The cost of every HR analytic tool would differ from software to software. For example, some HR analytical software such as ChartHop offers its pricing plan starting from INR 661.32 per employee month. Similarly, Qlik Sense offers its plan from INR 2,480.48 per user/ month. However, for some software you need to contact the sales representative.
Many HR analytical tools offer amazing features even in their free plan. For example, if you will choose ChartHop, you can create organization charts, integrate with payroll, create employees’ profiles, etc. When you will switch to its Premium plan, you can also manage role-base access controls, generate performance reviews, etc. Most software would offer all basic data analytical functionalities in their free plan. However, you can opt for a paid plan to access more advanced features.
Related Categories: Payroll Management Software | Attendance Management Software |
Leave Management Software | Recruitment Management Software | Performance Management System | Corporate Learning Management Systems
- What are HR analytics tools?
HR analytics tools help organizations with capturing, sorting, analyzing, and managing all HR data to improve employee performance and ROI. It helps them to find inefficiencies, optimize workforce organization, predict productivity, etc.
- How can HR analytics help an organization with employee engagement?
HR analytics can help a lot of HR professionals in improving engagement and it also helps them to understand ongoing workforce trends, find reasons for poor performance, create learning opportunities, etc.
- Which tools are to be used in HR analytics?
There are different types of HR analytical tools that help HR professionals with data aggregation and visualization, employee performance management, conversational analytics management, etc. Some of the best tools include Power BI, Oracle Fusion HCM Analytics, ChartHop, Tableau, and more.
- What are the latest HR tools?
You can choose from various latest HR software to help you manage and analyze different organization data types. Some of the most widely used tools that you can consider are Kazoo HR, Bambee, Leapsome, Kazoo HR, monday.com, etc.