MANAGING in the

NEW WORLD

The present times may in fact be dubbed as the ‘data age’. Data is there everywhere and it is up to firms whether to use it for business analysis in the right manner or not. In a business consulting report by the Financial Times, it was noticed that recruiting patterns have not altered much due to established prejudices regarding perceived social status or education. It was seen that firms still preferred hiring from top MBA institutes or law schools even though attrition rates were pretty high. Then Xerox services used new algorithm developed by Evolv to help out in recruitments next time and attrition rate over a period of time fell by a fifth in their call centres. Thus a lot of people without the ‘ideal CV’ got interview calls and even selections as they were deemed better fit by the algorithm. Thus over time, data has helped firms in building right teams, enlist partners, and develop genuine samples.

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