Datapeople launched Datapeople Insights, a recruiting analytics solution that aims to provide data-based insights for talent acquisition teams. The company hopes the product will allow recruiters to better focus their efforts and make more effective hiring decisions by using data.
According to the company, the product helps organizations make sense of their ATS data to provide answers to recruiters’ hiring questions (e.g. where most applicants come from, how long it takes to hire, etc.)
“In today’s recruiting landscape with its labor market tightness, competition for talent is fierce, and recruiting teams are asked to do more with less,” the company said. “Talent teams need to move with unprecedented speed, bring precision to the hiring process, and easily understand their recruiting data to see what’s working and what isn’t in order to achieve their hiring goals – especially when building a diverse workforce is a priority.”
Insights also pulls data from ATS sources, so that recruiters don’t have to spend time manipulating or organizing data.
Datapeople said the product will help talent acquisition teams gain a better understanding of their strengths and weaknesses, so that they can build a better hiring process. And, it will help recruiters by:
- Identifying bottlenecks in the hiring process with a view of how candidates pass through or drop out of the hiring funnel.
- Delivering on DEI goals by pinpointing and remedying problematic hiring stages that affect gender representation.
- Maximizing ROI by leveraging sources that generate the most applicants and hires from, and reallocating spend from low-performing sources.
- Forecasting a pipeline with clarity on how candidates have historically moved through the funnel from application to acceptance.
- Gauging the success of hiring efforts with external benchmark data.
In July, Datapeople completed a $13 million Series A round, which was co-led by GreatPoint Ventures and New Markets Venture Partners. The company said it brings data-backed objectivity, efficiency and predictability to talent acquisition through optimized job descriptions followed by reporting and analytics on recruiting processes and performance.