Week 5 Learning Team Deliverable - the Predictive Method

Learning Team Deliverable

Tria Munoz, Alvina Vaughan, Nora DiBartolomeo, Robert Helm

HRM 558

June 13, 2016

Rosie Cordova

The Predictive Method

The predictive method is use to show the relationship between test scores and a future behavior. This would require a large group of people to take the test. The scores are kept for a predetermined time and then the measures of some behaviors are recorded. After the measurements of behaviors have been collected the researchers will correlate the test scores with the criterion scores.  This would be a great tool for the Human Resource department to use in determining the turnover rate and how it correlates with the performance scoring.

Descriptive Methods

Descriptive method calculates retention and turnover rates based on the abilities of the Human Resource Department. It is a great tool for analyzing turnover and forecasting factors relevant to turnover. By definition the turnover rate is the sum of recent employees who have left employment divided by the total number of employees staffed from a beginning period, to an end period. The periods of calculation can be can be weekly, monthly or yearly. The purpose of Descriptive Statistics is to present quantitative data in a smaller, more manageable form (Trochim, 2006).

Prescriptive Analytics

       Prescriptive analytics can be used to take statistics and then use the data to model outcomes and recommend what should be done. Prescriptive analytics can recommend an ideal course of action by modeling the likely outcomes of various courses of action. Decision-making can be then be made based on having modeled the future outcomes of various actions. Ideas can be tested and data are made actionable. This approach would make data able to be applied and for there to be feedback for the courses of action that might be taken, allowing for clear recommendations. Past data are combined with a model to optimize decisions, allowing for decisions that follow the prescribed recommendations (Vahn, 2014, p. 8). As an HR manager, the data for housekeeping positions could predict turnover and also prescribe actions that should be taken in order to: prevent turnover, improve performance, or help plan for future hiring needs.

References

Miller, L. A., & Lovler, R. L. (2016). Foundations of Psychologic Testing A Practical Approach 

        (5th ed.). Retrieved from The University of Phoenix eBook Collection database.

Trochim, William. (2006). Descriptive Statistics Retrieved from June 11, 2016 from         http://www.socialresearchmethods.net/kb/statdesc.php

Vahn, G. (2014). Business analytics in the age of Big Data. Business Strategy Review, 25(3), 8-9.