Orlando Business Insurance: The Problem of Big Data

Orlando Business Insurance: The Problem of Big Data

Big Data uses computer to collect and crunch data for a variety of purposes, including recommending books, targeting advertisements and predicting stock prices. Lately, its use has been expanded to include finding new employees.

Gild is an emerging start-up that is hoping to capitalize on Big Data recruiting. Their algorithm crunches thousands of pieces of information and assesses 300 variables about an individual. Typical assessments for finding programmers include- where a person hangs out, types of language they use to describe technology, self-reported skills on LinkedIn and past projects. The algorithm examines both the traditional resume characteristics (past experience) and larger, data driven variables such as where they went to school and how that school was ranked by U.S. News & World Report.

Increasingly, academics and entrepreneurs have been applying Big Data to human resources, using data to search for talent and predict how well they will perform in a job. It is part convenience and part a way to get unbiased candidate assessments. Computers aren’t swayed by personal biases or judgments. Data looks at skill alone, not any other factors such as appearance, race, or gender that may nudge a recruiter’s judgment.

Big Data is extremely useful to businesses in many ways. It can help design and launch products, boost customer service, guide financial decisions and determine profits at the end of the year. But using it for recruiting has raised concerns. Numbers aren’t foolproof, and Big Data can’t fully comprehend an individual’s unique personality and traits. What if a candidate slips under the radar? Is data analysis a fair way to assess human candidates, or could it hurt the employer?

At Newman Crane, we have Orlando business insurance policies to protect Orlando healthcare providers from a number of potential losses, including liability and property damage. Contact us today for more information about our Orlando Business Insurance programs. (407) 859-3691