When you run a business, you want as many high performers as you can get. The problem is, absent performance analytics, it can be hard to determine the exact attributes that make some employees stand out.
Sure, you can see that one person comes in early and stays late. And you know that another person has fantastic sales conversions. Yet you can’t quite pinpoint all their contributions. And you know if you could, you’d be able to hire others like them, help your current employees reach their fullest potential, and get a competitive edge in your industry.
This is where having data and knowing how to use it comes in handy.
Being able to look at human workplace performance from a data-driven perspective is a game-changer. Data allows you to see clearly which key performance indicators (KPIs) are relevant when recruiting, upskilling, and retaining team members. However, figuring out how to make sense of the proliferation of data at your fingertips can seem overwhelming.
Two Story takes away the confusion and makes it possible to ethically process, analyze, and interpret data to extract insights and empower the people who power your business.
Two Story: Shaking up the World of Workplace Performance Analytics
In the area of performance analytics, Two Story has arisen from the startup world as a disruptor.
The company was founded by Certified Professional Behavior Analyst and Certified Forensic Interviewer Kerry Goyette. Goyette started Two Story to leverage artificial intelligence technologies to connect people data to business outcomes. He leads the company as CEO along with Michael Mueller and Bryce Murray, Ph.D. This cross-functional team brings expertise in behavioral science and applied artificial intelligence.
Two Story merges behavioral science with AI to help companies make quality people decisions at scale and accelerate team performance. The company’s proprietary eXplainable algorithm is designed to process disparate datasets and provide insights to help organizations and their personnel thrive.
Two Story: Making Use of Four Types of Analytics
What’s the major power beyond Two Story’s innovative algorithmic solution? It brings together four major types of analytics used for workplace performance evaluations. These include descriptive analytics, diagnostics analytics, predictive analytics, and prescriptive analytics.
Descriptive analytics are those that are fairly easy to calculate and identify. For instance, you can probably see that your sales team’s conversions are down for Q2. Though this information is useful, it doesn’t have any kind of context. You don’t actually know why the salespeople’s leads aren’t converting and signing contracts. You could take a guess, but you might be wrong. This is where diagnostics analytics can flesh out a fuller picture.
Diagnostics analytics look at the “why” behind descriptive analytics. Perhaps during Q2, your sales team members were given more subpar than high-quality leads. Consequently, conversions plummeted because your sales team was working with inadequate leads.
Now that you know this, you can use predictive analytics to look forward. You might say, “Well, if we don’t improve our lead quality, our Q3 conversions will continue to be low.” From that point, you can apply prescriptive analytics to come up with an action to resolve your problem. In this case, the answer would be to work with marketing to put more money into sources that generate high-quality leads.
Two Story’s breakthrough performance analytics tool offers a platform to collect, measure, and analyze countless data points like the aforementioned. As a leader, you can therefore use Two Story’s product to get closer to the “why” of your data. Remember: Data can be deceptively one-sided. Being able to dig deeper gives you more control over how you use your data to help your operations and success.
A Two Story Client Story
Driving greater impact by digging deeper into human performance data was the goal of a successful Construction SaaS company.
The organization employs teams across the country and wanted to understand how to make better hiring decisions. Specifically, executives were interested in knowing their best general managers’ characteristics and skills. That way, they could scale their team with excellence.
Two Story decoded the key performance behaviors of the company’s general managers that were spread across 115 locations. This occurred through a deep dive into the financial performance of each general manager. Two Story’s algorithm analyzed more than 50 behavioral science attributes, designed 70+ different machine learning and data fusion techniques, and objectively evaluated the contribution of each model for driving financial performance.
The results of the partnership were compelling. The organization was not only able to expand its talent pool during a tough labor market but it improved job fit and the financial performance among its general managers.
In the future, the organization plans to use Two Story’s findings to continue hiring high-performance general managers. The company estimates that general managers with at least a 67% job fit can deliver net earnings 420% above their previous average.
Coaching and Training: Much Improved With Two Story’s Assistance
Knowing the “why” behind data and being able to hire confidently are just two benefits behind Two Story.
Another is the ability for businesses to get more out of their internal training and coaching programs. As Gartner research shows, effective, pragmatic coaching can improve worker engagement by 40% and lessen the risk of turnover. Two Story makes it possible to know which skills to focus on for maximum employee performance and development.
For instance, you could have the team collect relevant assessment data and your preferred business outcomes. Using AI, the Two Story team could then set benchmarks for each position and pinpoint the profiles of high performers. Using those benchmarks as your guides, you could then construct a unique, robust training program to advance everyone’s performance.
More than anything else, Two Story is proving that we’re only beginning to tap into AI’s possibilities and opportunities. We’re a step closer to being able to truly optimize human potential at work.
Featured Image: Yan Krukov; Pexels.com. Thank you!
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