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The Future of Performance Management_ Integrating AI and Big Data

By meeting the rigor of the fast-paced business world, organizations are constantly looking for ways and means of improving their performance management systems.<br>

ciooutlookmagazine
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The Future of Performance Management_ Integrating AI and Big Data

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  1. The Future of Performance Management: Integrating AI and Big Data

  2. By meeting the rigor of the fast-paced business world, organizations are constantly looking for ways and means of improving their performance management systems. Traditional methods of performance appraisal are often quite unpopular as they simply do not provide sufficient insights for growth and improvement. With Artificial Intelligence and Big Data landing on the horizon, this altogether changes the aspect in which firms perform their performance management. To begin with, they streamline processes, and this one provides a holistic view of employee performance, by which better decisions could be made and ultimately improve outcomes.

  3. Knowing Performance Management Performance management refers to the structured process of improving organizational effectiveness by connecting individual performance to enterprise goals. Traditionally, this was done at the annual review, during feedback and goal-setting exercises. While these practices are crucial, they lack the dynamism needed for fast-paced environments in today’s fast-changing work environment. In most cases, it could be too late before the employee learns from the given piece of feedback and, worse still, behavioral change might prove impossible or even too late. Worse still, managers might not discern a trend or issue that may change overall performance.

  4. The Roles of AI in Performance Management One of the important reasons why people embrace AI lies in its ability to integrate itself into performance management systems. The ability of organizations to access data through approaches provided by machine learning algorithms enables the analysis of huge data and pinpointing those impossible to identify by human observation. For instance, the appraisal of the productivity metric of employees and their engagement levels up to even the view of sentiment analysis from different communication tools leads to real-time insights about employees’ performance.

  5. Big Data: A Game Changer Big Data refers to such huge volumes of structured and unstructured data created every day. In the case of performance management, it may arise from a variety of sources-employee surveys, social media interactions, customer feedback, or even project management tools. So, by tapping into Big Data analytics, organizations can get an all-round view of their workforce. One of the best powers bestowed by the combination of AI and Big Data in performance management is the instant provision of feedback. The classical review of performance is conducted from past performances with no regard for the present problems or potential future changes. AI systems can monitor the activity of employees constantly and provide immediate feedback.

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