Earlier this week I attended HireVue's webinar; The Data-Driven Candidate Recommendation Engine, which highlighted their new features Insights and Iris as well as had a great discussion between three recruiting experts.
To give you an introduction to the concept behind Insights, I'll use the same analogy used in the Webinar, since it seemed so clear to me.
Amazon, Netflix, Pandora and countless others have dominated their industries by doing one key thing really, really well; predicting 'successes' based on the personal preference of each user. By taking the data created by each user; either the movies you watched, the products you bought, or the music you listened to and then analyzing it for similarities and patterns, these companies are able to recommend movies, products and music which had a high probability the user would enjoy. By doing this accurately these companies improved the service provided to each user, as well as became more inherently sticky because they now already know what you like.
This is what Insights is doing for the hiring process; using the data, similarities, and patterns from previous interviews a company performs to predict how successful a candidate will be at a specific company. The data also, does not just come from a resume that the candidate took hours to perfect, spell check and used a thesaurus to edit. It comes from the spoken content of the interview; the word complexity, word choice, sentiment, engagement, distress, emotion, etc. Think of all the information about a candidate that you learned after reading their resume.
HireVue is now enabling recruiters to measure and put value to the previously immeasurable parts of the interview; the spoken content. They are also enabling users to globally search all transcripts at once to easily find candidates they are looking for. "Remember that one guy who talked about his product management experience? I liked him..." Bam! There he is.
Forget about the amazing ability to automatically give candidates a rating based on the audio of the interview and the possibilities there for a second. Just giving users the ability to search, on demand, through hundreds of hours of interviews at once to find the one they remembered they liked the most? That's pretty awesome.
What do you think of HireVue's new Insights and Iris?
What could you do if all of your spoken content was automatically indexed, analyzed and delivered as actionable data?