Leveraging Recruiting Data
Executive Summary
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Global Corporate Venturing (GCV) wanted an effective way of analyzing and showcasing the investment data it had collected over the past five years. With the help of QBIX Analytics, GCV was able to analyze and visualize its data for, The World of Corporate Venturing 2015, the first of its kind for-fee report for the CVC community. QBIX Analytics surpassed GCV’s expectations by providing the company with over 100 engaging analyses and charts featuring the most relevant and influential investments in the venture capitalist community.
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Challenges
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Global Corporate Venturing had effectively managed and tracked five years of corporate venture capital (CVC) deals data. As a monthly magazine and website, GCV had dominated as a publication but wanted to utilize more data evidence to strengthen its articles and reports. GCV was uncertain about how to best maximize the potential of the data collected. The organization’s initial vision was to create 10 to 12 charts from the data that could be included in its annual report.
Prior to its partnership with QBIX Analytics, GCV had stored and tracked data in Salesforce; however, analyzing and creating charts from the data was a manual, cumbersome process. For The World of Corporate Venturing 2015, GCV wanted to utilize its data in a visually engaging way that brought substantial claims to the report, which is a critical resource for the corporate venturing community.
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How We Helped
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The QBIX Analytics team analyzed the data gathered by Global Corporate Venturing to understand and develop the key trends and insights in investments and exits by CVCs. The team created over 100 graphics, the majority of which were included in the final publication of The World of Corporate Venturing 2015. The graphics showed the macro trends of investments and exits over the past four years, top investors in each of the key sectors and industry verticals, and provided details broken down by region and investment or exits. The data influenced and strengthened the main points made throughout the report emphasizing the most pertinent corporate venturing analysis.
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Results and Future Plans
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The detailed data analysis and graphics were highly praised by GCV and its customers, and provided additional value to the report. GCV publicly thanked QBIX in the report for the team’s help in making this change possible. The World of Corporate Venturing 2015 became a fundamental reference manual for people in the industry and led to follow on sales for additional subscriptions. The reception was so positive that the GCVQBIX Analytics partnership continued with the creation of a new data product, GCV Analytics. GCV is now offering its customers paid memberships to the database that contains about 5,000 deals from 1200 corporations.
Recruiting & hiring insights
Pivotal Software improved the insights from their hiring pipeline through data consolidation and elimination of manual processes.
Customer’s challenge: To better manage worldwide hiring pipeline by:
• Providing recruiters and managers better insights into hiring needs and results for their organization and/or locale
• Consolidating data from multiple sources removes repetitive manual steps that existed throughout the process
• Analyzing data using a wide range of factors (job type, hiring manager, recruiter, candidate source, etc.) to improve the efficiency and effectiveness of these processes
QBIX Analytics’ solution: To provide broad visibility into hiring requirements, pipeline status, and effectiveness of recruiters and processes by:
• Pulling data from Greenhouse, Workday, and other sources into a single, centralized data platform.
• Creating views of the combined data to capture daily snapshots of activity and aggregations on candidate, application, and job attributes
• Developing dashboards providing visibility into the status and effectiveness of hiring activities related to job openings and the candidate pipeline
Impact on customer’s business: Using new insights into the flow of candidates through the hiring pipeline, Pivotal was able to:
• Better understand the current status and success rates of their candidate pipeline for each stage by region, country, department, and/or role
• Predict the expected numbers of hires over time to assess whether they were on track to meet hiring targets
• Determine the effectiveness of various candidate sourcing tools by understanding the associated hiring rates from each
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Customer’s challenge: Increase efficiency and effectiveness of worldwide hiring process
Pivotal has been quite successful in the big data platform market and has acquired numerous companies over the past few years. With each acquisition came different tools and processes for handling recruiting making the ongoing hiring process across the entire company increasingly difficult to manage.
In 2016, Pivotal selected Greenhouse to manage worldwide tracking of all candidates in the hiring pipeline. Even with the new system in place, however, the hiring team continued to collect and analyze data from Greenhouse and other sources in Excel spreadsheets and Google Sheets through significant manual input and manipulation.
Pivotal was motivated to understand how well their hiring process was working to identify quality candidates while also meeting hiring targets set by each department. Improving the efficiency and effectiveness of the hiring process would not only improve the quality of the hires but reduce costs associated with making those hires.
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QBIX Analytics’ Solution: Improve visibility into status and effectiveness of hiring process
After meeting with Pivotal’s hiring team to develop a thorough understanding of their process, available data, and issues needed to be addressed. QBIX developed a central data mart to store Greenhouse data alongside employee data from Workday and hiring targets stored in Google Sheets. They also developed a pipeline to import data from each of these sources into the data mart each night.
Data views were then developed to bring helpful insights to the surface for analysis. Examples of these views include candidate interview scorecards, recruiting forecasts, and job role pipeline statistics to name a few. Additionally, daily snapshots enabled trend analysis to show changes over time.
To make this data accessible, a visualization layer was developed in Tableau with multiple dashboards and reports needed by hiring managers, recruiters, and department heads.
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Impact on customer’s business: Higher quality hires with lower acquisition cost
Having uncovered new insights into their hiring process, Pivotal now had a better understanding of the number of candidates in the pipeline along with pass rates for each stage by region, country, department, or role. At the same time, due to the automation of previously labor-intensive tasks, the effort required to prepare these insights was substantially reduced.
Also, Pivotal could now predict if hiring targets would be met by combining analysis of candidates currently in the pipeline with historical data showing time spent in the pipeline and how different factors affected hiring success.
Another improvement experienced by Pivotal was the ability to effectively evaluate the best sources of recruiting candidates and target their efforts towards those that result in the highest quality hires in the most efficient way possible.