Data-Driven Decisions: Integrating Machine Learning into Human Resource and Financial Management

Efficient human resource (HR) and finance management in today’s fast-paced corporate environment relies on data-driven decisions to maximize resource allocation and increase operational effectiveness. Traditional systems are vulnerable to overlooked possibilities and inefficiency due to the reliance on human processes and limited data. The study proposes a comprehensive method using Machine Learning (ML) to address these difficulties. The system uses scalable ML algorithms to evaluate large datasets, forecast trends, and optimize resource allocation for HR and finance management. With algorithmic transparency and real-time monitoring, the proposed system improves operational performance, decision accuracy, and transparency. When compared to existing methods, the results indicate considerable improvements in attrition prediction (70% accuracy), budget forecasting (90% accuracy), and market trend prediction (88% accuracy). Even when continual optimization is required, incorporating ML delivers significant benefits in decision-making and resource allocation efficiency. To summarize, bringing ML into HR and finance management represents a revolutionary step toward operational excellence and data-driven strategic decision-making.

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Publication Details

Published
2024-08-08
DOI
https://doi.org/10.1109/iccpct61902.2024.10672785
Citations
4
Primary Topic
Big Data and Business Intelligence
Type
article
Field-Weighted Citation Impact
2.11
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article

Data-Driven Decisions: Integrating Machine Learning into Human Resource and Financial Management

Kabirdoss Devi, T.V. Ambuli, S. Kumaran, K Sampath et al.
4 citations
Big Data and Business Intelligence
2.11
article

Data-Driven Decisions: Integrating Machine Learning into Human Resource and Financial Management

Kabirdoss Devi, T.V. Ambuli, S. Kumaran, K Sampath, S. Venkatesan
article en
4 citations

Abstract

Efficient human resource (HR) and finance management in today’s fast-paced corporate environment relies on data-driven decisions to maximize resource allocation and increase operational effectiveness. Traditional systems are vulnerable to overlooked possibilities and inefficiency due to the reliance on human processes and limited data. The study proposes a comprehensive method using Machine Learning (ML) to address these difficulties. The system uses scalable ML algorithms to evaluate large datasets, forecast trends, and optimize resource allocation for HR and finance management. With algorithmic transparency and real-time monitoring, the proposed system improves operational performance, decision accuracy, and transparency. When compared to existing methods, the results indicate considerable improvements in attrition prediction (70% accuracy), budget forecasting (90% accuracy), and market trend prediction (88% accuracy). Even when continual optimization is required, incorporating ML delivers significant benefits in decision-making and resource allocation efficiency. To summarize, bringing ML into HR and finance management represents a revolutionary step toward operational excellence and data-driven strategic decision-making.

Vels University (IN), SRM Institute of Science and Technology (IN), St. Joseph's Institute of Technology (IN), Saveetha University (IN)
Decent work and economic growth
Openalex Percentile: Top 10%
Big Data and Business Intelligence
2.11
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