Startup Profile: Overfit
Five startups took part in the 10-week BMW Innovation Lab 2018.
Overfit Technologies impressed BMW executives on Demo Day by introducing BMW to their data-driven platform designed to better engage employees.
Overfit are an employee retention platform, specialising in data-mapping. They aim to provide data analytics and visualisations on top of employee data to help organisations make data-driven decisions. Overfit joined the 2018 BMW Innovation Lab to help the car-industry giant stay ahead of the trends through their ability to disrupt with cutting-edge technology.
During the lab the Overfit team built both a dashboard and a tool for discriminant analysis. This system will help HR managers understand the differences between different groups of employees, e.g. happy vs unhappy, engaged vs unengaged, etc. The outcome of this analysis will help BMW to retain and involve their current employees, as well as inspire new procedures for on-boarding new staff.
The startup aim to empower the HR managers with easy-to-use data analytics tools. With these tools at their fingertips, the HR managers will be better equipped to understand more about their workforce. The initiative will also help to improve employee productivity and satisfaction through insights extracted from the data. Overfit believe that by removing unconscious biases in their decision making, employees will feel empowered by BMW and trust in the new processes that are being engineered for their benefit.