Proving Training ROI and Making Data-Driven Decisions with Predictive and Prescriptive Analytics

“The Board is concerned the competitive labor market might be a substantial obstacle to our operations over the next year. Does the training team have any data that could help us better understand how this tight market might impact us, and inform our staffing strategy?”

If you were asked that question today, what might your response sound like?

“The labor market is definitely a big challenge for our staffing situation and we might need to adjust our staffing strategy. Give me a week, and I can put together a report.”

or…

“Actually, the training team has prepared several forecasts. We expect a deficit in skilled welders, especially by Q3 of next year because of resource constraints in the welding program. We forecast overages on some projects to increase by 20% unless we resolve resource constraints. We’ve been leveraging HR data to develop an action plan to recruit additional instructors, while also optimizing schedules to maximize training resources. Give me a few minutes and I can send you what we have so far, and keep you up to date as we keep working on our models.”

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