Listen to this articleTrenData offers a cloud based, predictive analytics platform focused on optimizing workforce performance. Powered by a robust AI (Artificial Intelligence) engine and using a natural language interface, the company’s solution supplies corporate leadership with the insights they need to make better people and business decisions. It ties directly into HRIS, Talent Management, and other Big Data applications to provide not only the most relevant metrics and analytics, but also powerful modeling capabilities to show how actions today, can affect and change outcomes tomorrow.
Below is our interview with Tom McKeown, CEO and Co-founder of TrenData:
Q: Could you explain the function and advantages of your cloud based, predictive analytics platform?
A: The TrenData solution bridges the gap between powerful functionality and ease of use. The user logs into a robust and intuitive dashboard of easy to understand people metrics. Items such as turnover, source of hire, average performance. Beneath each metric there are three options. The first drills down on that metric by department, location or some other subgroup. The second option trends the metric to analytics over a prescribed time period. The third continues the trend into the future to show where things would go if all remained unchanged. But also in this third option we provide modeling capabilities that show by changing one or more metrics such as pay or training, how you might affect the trend of another such as turnover. The simplicity is that you are never more than two clicks from the data you need.
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Q: What advantage does TrenData have over its competitors?
A: As mentioned in the preceding answer, our advantages are power and ease. The AI engine and our data scientists can generate algorithms from a company’s historical data to provide a comprehensive predictive approach that is unmatched in the industry.
Also, in addition to the two-click user interface, our solution is by far the easiest to implement. The platform is based on an open API approach for easy integration with other systems, but we have also introduced our TUFF (TrenData Universal File Format). The TUFF allows clients to take a quick extract from their HRIS or Payroll system and upload it into the TrenData solution in minutes. Gone are the multiple month implementations. Because of this capability we offer prospects a free 90 day trial where they can use their own data. So far most who have tried are up and going in a matter of days.
Q: Can you give me an example of your predictive modeling?
A: Sure. Imagine a scenario where you would like to understand why turnover in your organization is higher than you might think it should be. TrenData would first give you the ability to see that turnover rate over the past year, or several years, and then project it into the future if things keep going at the same rate. You could then model both the cost and impact of increasing compensation or changing the work rules, to say letting more people work from home. The system would check your history and see if these factors would cause turnover reduction. You could also parse the metric and see whether the turnover is among high or average performing workers. If a large enough percentage of the people you are shedding are high performers, then the investment might be worth it. If they aren’t high performers and rather people that aren’t up to par, you might want to keep that investment for some other purpose.
Recommended: Q: Who is your ideal customer and why?
A: Our ideal clients are organizations that want to clearly understand the direction their business and workforce are heading, and to possess the intelligence to know what actions can improve the results. The ability to get quick results and not pay a fortune in implementation, consulting, and training are the things companies are begging for.
Q: What can we expect from TrenData in next six months?
A: The current product is already generating a lot of client activity for us, so over the next few months, I expect we will be spending more time at shows and talking to analysts.
Our solution will always be evolving, as the client needs and technology progress. Version 3 is scheduled for a January release. It will include more robust AI capabilities and really expanding the natural language interface features. We will also be extending the graphics capabilities and enhancing the user interface.
Q: Tell me more about your natural language interface, how does that work?
A: As you know, systems are getting much smarter. The Google like ability to simply type, in your own words, what you’re looking for will be standard in every competitive application in the next few years. The TrenData innovation is that the system will not only find the metric or analytic you are looking for, but build them if they don’t exist. Again, imagine you have a question about average salary in your organization, but you want something very specific such as average salary for accountants that can read Spanish. That metric might not already be built in the system, but the intelligence would be there to construct it from the simple query. Then I perceive not much further out we’ll be able to do the same thing with voice recognition.
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