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DATA2902: Data Analysis

You can use SDy to assess the performance difference in dollar terms between candidates or incumbents. For example, if you are recruiting for a role and you have narrowed it down to two candidates who can both do the job, you could use SDy to calculate whether the extra $10,000 in salary you would be willing to pay one candidate over the other is worthwhile. You can also use SDy to determine the impact of a training program on employees’ performance.

SDy is calculated by subtracting the mean from each individual data point and dividing by the total number of points in the set. It is most commonly used in selection questions and when evaluating the effectiveness of a training program. In both cases, it is a useful tool for assessing the ROI of your investments. It is a simple yet powerful statistical method that can help you make better decisions within your current and future HR roles.