IQNavigator Launches IQN Labs

DENVER and LAS VEGAS, Oct. 8, 2014 /PRNewswire/ -- IQNavigator, the leading provider of non-employee workforce management solutions to Global 2000 companies, today launched IQN Labs, an innovation lab that provides a forum for creative, collaborative, data-driven innovation. IQN Labs will develop and refine scientific approaches to help enterprises make more informed decisions to better manage and optimize contingent labor and statement-of-work (SOW) engagements. A team of data scientists, big-data technologists, contingent workforce specialists, and visualization experts work in concert to dissect the data and design approaches for supporting human decision-making in workforce management with machine intelligence.

IQN Labs empowers procurement, supply chain and HR professionals and executives to move beyond best practices - which may just represent a common opinion - to evidence-based practices and machine-intelligence supported actions that improve contractor hiring and SOW management. IQN Labs offers a data-driven approach in a collaborative environment resulting in predictive analytics.  The approach uncovers new ways to exploit IQNavigator's vast data reserves and help companies find and manage the best talent available in a cost-effective manner.

As businesses compete to manage, enrich and leverage their data resources, including data about the non-employee workforce, traditional forms of data analysis such as reporting, charting and dashboards will be replaced by newer, more sophisticated methods. IQNavigator is leveraging the latest data science techniques to deliver exploratory visualizations, sophisticated research designs, advanced statistical methods and machine learning to refine the art of contingent hiring. IQN Labs will offer meaningful measurement approaches, test best practices with real evidence, surface important insights and build computer support for optimized decision-making in contingent workforce management.

"IQNavigator is passionate about applying data science to uncover innovative solutions to today's workforce management challenges, and our initial IQN Labs engagements are showing very interesting results," said Sherri Hammons, Chief Technology Officer for IQNavigator. "With data science, we can raise statistically-based alerts, for example, around supplier performance or rate non-compliance, make valuable predictions around time-to-fill or rate trends for different job titles, and generate recommendations such as suggested job titles to use for a given job description or resources that match a particular requisition. We can produce data-driven machine intelligence that supports human decision-makers such as procurement specialists or hiring managers."

IQN Labs offers varied levels of engagement - from one month to one year in length – that enable companies to tap into a spectrum of resources. Silver, Gold and Platinum levels bring visualizations, statistical modeling or machine learning to bear on tough VMS challenges to provide breakthrough business insight resulting in rapid-action decision support for program optimization.

The data science approach of IQN Labs aims to address common services procurement issues such as:

• What measures meaningfully reflect the performance of a contingent workforce management program
• How to determine what works best by analyzing correlational data
• How to predict the future from historical data and how can these predictions be used to make better labor decisions in the future
• How to make sense of the vast amounts of data collected in managing our workforce
• How to make that data available in a truly meaningful way, beyond reports and graphs

IQN Labs is seeking challenging research-oriented opportunities to identify practices that will help companies distinguish assumed results from real outcomes while generating the foundation for machine-supported workforce management. For more information on how data science and big data technologies can promote a new era of effective contingent workforce management, visit www.iqnavigator.com/IQNLabs.  

About IQNavigator
IQNavigator is the leading independent technology provider of Vendor Management System (VMS) software for Global 2000 companies. IQNavigator's products enable enterprises to intelligently manage and optimize complex services procurement and contingent workforce programs. Since 1999, IQNavigator has been delivering procurement visibility and predictability, helping corporate leaders around the globe increase profitability, mitigate risk and compete more effectively. For more information about IQNavigator and its software, visit www.IQNavigator.com.

SOURCE IQNavigator