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Quantifiably Better: Delivering HR Analytics from Start to Finish

You're reading from   Quantifiably Better: Delivering HR Analytics from Start to Finish Delivering Human Resource (HR) Analytics from Start to Finish

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Product type Paperback
Published in Feb 2017
Publisher
ISBN-13 9781634622219
Length 126 pages
Edition 1st Edition
Languages
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Author (1):
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Steve VanWieren Steve VanWieren
Author Profile Icon Steve VanWieren
Steve VanWieren
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Toc

Table of Contents (13) Chapters Close

1. Acknowledgements
2. Introduction FREE CHAPTER
3. CHAPTER 1 One Less Thing 4. CHAPTER 2 Understanding Your Data: The Seven C’s 5. CHAPTER 3 Manipulating Your Data: Put Your Stake in the Ground 6. CHAPTER 4 Monitoring Your Data: Follow Everything 7. CHAPTER 5 Preparing For Action: The Data and Analytics Maturity Model 8. CHAPTER 6 Purpose-Driven Analytics: Understanding Motivators 9. CHAPTER 7 Experimenting with Action: The ITEM Model 10. CHAPTER 8 Watch Out For These Things 11. CHAPTER 9 Everything Can Be Quantifiably Better 12. References
13. Index

The Seventh of the Seven C’s - Chance

Measuring chance is actually a measure of the predictability of the data. While this one may sound the scariest, it is actually one of the best ways to know if the data is “good enough”. The reason is pretty simple. Each of the other six C’s can be measured for each attribute. Chance can be used to gauge how valuable the data is as a whole. Thankfully, it is pretty easy to measure by using something called a confusion matrix.

...

Event happens

Event doesn’t happen

You predict an event

You got it right

(True positive)

You guessed wrong

(False positive)

You predict a non-event

You guessed wrong

(False negative)

You got it right

(True negative)

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