“There is no denying the vast increase in the range and depth of information that’s routinely captured about how we behave, and the new kinds of analysis that this enables. By one estimate, more than 98 percent of the world’s information is now stored digitally, and the volume of that data has quadrupled since 2007. Ordinary people at work and at home generate much of this data, by sending e-mails, browsing the Internet, using social media, working on crowd-sourced projects, and more—and in doing so they have unwittingly helped launch a grand new societal project. “We are in the midst of a great infrastructure project that in some ways rivals those of the past, from Roman aqueducts to the Enlightenment’s Encyclopédie,” write Viktor Mayer-Schönberger and Kenneth Cukier in their recent book, Big Data: A Revolution That Will Transform How We Live, Work, and Think. “The project is datafication. Like those other infrastructural advances, it will bring about fundamental changes to society.””
“One of the tragedies of the modern economy is that because one’s college history is such a crucial signal in our labor market, perfectly able people who simply couldn’t sit still in a classroom at the age of 16, or who didn’t have their act together at 18, or who chose not to go to graduate school at 22, routinely get left behind for good. That such early factors so profoundly affect career arcs and hiring decisions made two or three decades later is, on its face, absurd.
But this relationship is likely to loosen in the coming years. I spoke with managers at a lot of companies who are using advanced analytics to reevaluate and reshape their hiring, and nearly all of them told me that their research is leading them toward pools of candidates who didn’t attend college—for tech jobs, for high-end sales positions, for some managerial roles. In some limited cases, this is because their analytics revealed no benefit whatsoever to hiring people with college degrees; in other cases, and more often, it’s because they revealed signals that function far better than college history, and that allow companies to confidently hire workers with pedigrees not typically considered impressive or even desirable.”
Article tip from Lisa Rampton Halverson