Illuminate is a web-based tool that significantly enhances the way that existing assignment cost projections are calculated, making them quicker, more accurate, with less need for revision. Illuminate leverages machine learning (a form of AI) and additional business and external data sets to improve accuracy by up to 10 times versus traditional methods.
Creating and updating assignment cost estimates is a time-consuming and often inaccurate process, as actual costs are frequently found to differ significantly from estimates.
Mobility teams spend a lot of time gathering, reviewing and revising budget numbers, as well as dealing with questions from the business
Illuminate is our assignment cost prediction application that can be used by both global mobility teams and business users. Based on inputs about the employee and assignment requirements, Illuminate will produce highly accurate assignment cost predictions, broken down by cost type.
What is revolutionary about Illuminate is the application of machine learning to create highly accurate predictions, up to 10 times more accurate than existing assignment cost estimates. Illuminate works by taking in 3 types of data:
- Assignment data – historic information on employee demographics and compensation
- Business performance – financial and business performance metrics
- Country & city economic data – data that describes the economics of a particular location
Using machine learning, accurate predictive models are created based on complex patterns identified within the mix of data provided. With these data sources analysed together, costs can be predicted to a far higher degree of accuracy than using traditional methods.
Illuminate’s predictive models can also be applied to identify alternate and potentially more cost-effective employees for deployment to particular global roles, creating additional business value.
Creating more accurate estimates of assignment costs means that business budgets are closer to actual spend, improving the experience of the business in interacting with global mobility. Budgets are created quicker and require less frequent revision, helping to reduce the workload of the global mobility team and improving employee experience and engagement.