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Three Ways on How Big Data is Improving Employee Benefits

HR Tech Outlook | Monday, May 17, 2021

Insurance firms and experts who deal with workers' compensation paperwork will use big data to see which medications or physicians have the best results for people who have been injured on the job.

Fremont, CA: Big data has changed the way companies in a variety of industries manage and interpret data in ways that were previously unthinkable. The technology can crunch numbers and spot patterns much more quickly than humans might on their own. Here are three aspects that big data is helping to improve employee benefits:

Saving Time

Benefits technology packages that assist workers in selecting the plans and options they need are becoming increasingly common. Some systems may make recommendations based on information in a worker's profile or other system data. Big data also facilitates this process by operating in the background to tailor content to the specific needs of each user.

In addition, big data will help HR practitioners automate many of the activities related to benefits. It can tell HR what point most workers are at when applying for benefits. They could then submit automated reminders, if appropriate, to encourage people to complete the process.

Track How Benefits Programs Pay Off

Big data is also crucial for businesses to evaluate the value of certain benefits they provide to their workers. Companies will see if a person signs up for a gym membership offered by their employer or a program that allows them to get nutritious meals at work if they show signs of improved health.

Many companies already do this, but employees have mixed feelings about it. When employers request statistics such as an enrolled person's BMI, some people find it intrusive (BMI). Others are unconcerned because they are rewarded with cash bonuses for improving their fitness.

More Insights

The details of workers' compensation differ depending on where an individual lives. After an individual files a claim, a big data platform may help businesses track the severity of the disability.

Workers' compensation treatment expenses can also be reduced using big data. Insurance firms and experts who deal with workers' compensation paperwork will use big data to see which medications or physicians have the best results for people who have been injured on the job.

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