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Hi, I am currently working towards developing a strategic HR scorecard for an organization and I need to know about some tools which are commonly used for predictive analysis. Can someone help me with such tools?
Though, I am not sure if this is the right response, but Pega BPM has a tool known as Next Best Action Marketing (NBAM) Framework that can be used for predictive analytics for marketing firms.
Regression Analysis can surely help. You may begin with the Survival Analysis, Time Series Models to Logistic Regression , Discrete Choice Models and so on.
For strategic HR purposes, i dont think of using high end tools.. however simple SPSS and Minitab will help finding regression or multivariate regression.
Yes, even I don’t think we need very high end tools for Strategic HR. Since you want to prepare a Scorecard, I presume you are looking for cause-effect drivers of employee performance, and in this case a multivariate regression analysis will work fine (according to my knowledge.) You can use SPSS, it is simple and effective.
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