4-1-3 HR Metrics and Evaluaitons
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Feb 20, 2024
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Considering the Walt Disney Company’s use of data-driven decision-making and their utilization of predictive and behavioral analytics, I would place the company in the higher levels of analysis. Specifically, I would place the company within predictive modeling. Predictive modeling aims to predict future outcomes by analyzing relevant historical data. According to SHRM, “predictive modeling isn’t about having the most data; it’s about testing the “right” hypotheses or theories with the right” (Babcock, 2013,p11). Disney has used and continues to use forecasting and predictive modeling to enhance the guest experience through a multitude of entertainment platforms. From forecasting through initiatives like MyMagic+, Disney is able to track guest behavior, preferences, and feedback. With the Magic+, guests are able to enter parks, enter Disney Resort hotel rooms, check in at virtual queues and charge food and merchandise purchases with the magic band (MyDisneyExperience, 2022). For example, MyMagic+ opened the doors to tracking guest activity and other data analytics. Disney is now able to track movement through the park by monitoring which customers go on what rides and when. This is beneficial because it can help overall park efficiency while monitoring crowd control. Despite the success of this intiaitve, Disney is still in the beginning stages of data analysis.
In order for the Walt Disney Company to move their metric utilization to the optimization level, the company would need to prioritize enhancing data collection and analysis capabilities to drive business growth and improve decision-making processes. To enhance data capabilities, Disney should invest in advanced analytic tools. Implementing new technology and tools, such as data management systems, data visualization software, and other predictive analytics tools, can help collect, store, and analyze large
volumes of data more efficiently (Zayd, 2023). The availability of sophisticated HR software has enabled HR teams to leverage data analytics to make better decisions. The insights gained from these analytics enable more informed choices. Additionally, with the implementation of new technological tools, it is important to establish data governance. Defining clear data governance policies and procedures ensures
data integrity, quality, and security (Sayed, 2023). This includes establishing data standards with proper data documentation practices. According to the Digital Analytics & Data Governance Survey by ObservePoint, “34% of respondents identified improved decision-making as the most significant advantage of effective data governance” (Sayed, 2023, p7). Without data governance practices, HR risks sharing inaccurate information, resulting in key individuals lacking trust in HR data.
One of the barriers to enhancing data collection and analysis capabilities at the Walt Disney Company involves inconsistency. For example, data scattered across different departments or systems can hinder effective data analysis. When data is siloed, it's also hard for leaders to get a holistic view of company data. Overcoming this challenge requires integrating and consolidating data from various sources. Another barrier includes privacy and regulatory concerns. Compliance with data privacy regulations can create challenges when collecting and analyzing customer data. Implementing strong privacy measures and obtaining necessary permissions is essential.
To enhance data capabilities, having resources such as investments is critical. Allocating funds for purchasing and implementing advanced data analytics tools or other softwares will be necessary. Investing in the best tools and softwares is a must for a company that wants to reach full optimization. Additionally, funding for training and upskilling is critical.Providing training and development programs to equip employees with necessary data analytics skills and knowledge.
Gaining support from business leadership and making a business case for allocating resources can be done by highlighting the potential benefits of enhanced data capabilities. I would emphasize that
enhancing data collection and analysis capabilities at the Walt Disney Company can empower better decision-making, drive growth, and improve operational efficiency. These benefits of investing in new and improved HR analytics can result in improved decision making, employee retention, reduced turnover costs, and increased productivity. It would be imperative to emphasize the need for improved decision making. Enhanced data collection and analysis capabilities enable informed and data-driven decision-making, leading to better business outcomes. Additionally, effective data utilization can provide
a competitive edge by identifying market trends, customer preferences, and predictive insights. This will ensure that the Disney Company stays ahead of the competition. Ultimately, investing in technology and
talent, and gaining support from business leadership can lead to data-driven success in various aspects of the business.
The imperative for Disney to advance in analytics is driven by the need to stay competitive in a rapidly changing entertainment landscape. This is especially necessary because consumer preferences and technology are constantly evolving. Advanced analytics can provide Disney with insights to create personalized experiences, optimize operations, and innovate in content creation and delivery. This leads not just to cost savings and efficiency gains, but also to growth opportunities and enhanced customer loyalty. Ultimately, by developing a comprehensive approach to HR analytics, Disney can gain a deeper understanding of their workforce and make data-driven decisions that drive business performance.
References
Babcock, P. (2013, March 29). Using Predictive Analytics in Talent Management. Www.shrm.org. https://www.shrm.org/topics-tools/news/organizational-employee-development/using-predictive-
analytics-talent-management
MyDisneyExperience. (2022). Magic Band+. Disney.go.com. https://disneyworld.disney.go.com/guest-
services/magicband-plus/
Sayed, Z. (2023, September 15). A deep-dive dive into the intricacies of data governance in people analytics. HRForecast. https://hrforecast.com/importance-of-strong-data-governance-in-the-field-of-
people-analytics/
Zayd, S. (2023, October 20). Technology Integration in Human Resource and its Impact! Www.linkedin.com. https://www.linkedin.com/pulse/technology-integration-human-resource-its-
impact-zahyd-s/
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