Big Data Used to Automate and Optimize Job Advertising Process
(New York, NY-April 3, 2018) PandoLogic has unveiled a new AI-enabled algorithm that can predict job ad performance before the ad has been campaigned. The prediction algorithm, called NAVi, is now available through pandoIQ, PandoLogic’s programmatic job advertising platform for enterprise recruiting. The NAVi algorithm is used to automate the job advertising process and optimize performance in real-time to help employers get the most from their recruitment spend. In addition, NAVi’s predictive performance data arms employers with valuable upfront insights that help them to better manage their recruitment strategy. By knowing exactly how many views and applies are expected for each job ad in advance, employers can proactively allocate and prioritize other staffing resources to reduce time to hire.
“For a long time, HR professionals have been making talent sourcing decisions without the benefit of big data and AI technology. With the introduction and deployment of NAVi, pandoIQ is, once again, revolutionizing talent sourcing by providing practitioners with sophisticated tools to tackle age old problems,” said PandoLogic’s CEO, Jonathan Bulkeley.
The NAVi algorithm is the first of its kind in the recruitment advertising industry and plays a key role in pandoIQ’s ability to fully-automate the job advertising process. pandoIQ’s campaign algorithms use NAVi’s performance prediction to define the campaign strategies for each job and allocate budget accordingly. In addition, the prediction serves as the performance benchmark from which pandoIQ’s campaign optimization algorithms measure actual performance and automatically adjust campaign strategies, such as bid rates and job board targeting, to achieve optimal ad performance.
The patent-pending NAVi algorithm utilizes advanced machine learning technology and PandoLogic’s 10 years of historical job ad performance data to accurately predict job advertising performance. More than 199 billion data points have been analyzed across 5.4 billion individual historical job ad campaigns from PandoLogic’s recruitment advertising platform to determine the scientific formula and key attributes that predict job ad performance. Similar to other algorithms embedded in pandoIQ, NAVi leverages artificial intelligence to analyze trends and continuously refine its algorithm to ensure optimal accuracy in a changing labor market.
PandoLogic enables employers to source quality applicants faster and more efficiently through the use of big data, artificial intelligence, and proprietary campaign algorithms that fully-automate and optimize the job advertising process. Since 2007, over 125,000 employers and more than 700 digital publishers have benefited from PandoLogic’s programmatic solutions resulting in over 5.4 billion programmatic job campaigns based on more than 199 billion historical job performance data points. To learn more visit www.pandologic.com.