With LinkedIn (LNKD +0.1%) now in possession of 250M+ user profiles that amount to partially or fully-completed resumes, the company is setting its sights on analyzing and mapping patterns within its user data to give employers more advanced tools for finding the right candidates.
LinkedIn exec Dan Shapiro says a pending product will rely on algorithms to uncover important patterns in hiring activity to spot valuable candidates, much the same way Google's PageRank search algorithm relies on links between sites to determine useful search results. "We are due a complete increase in the sophistication of the talent marketplace like we saw in the financial marketplace 50 years ago."
Over the long run, LinkedIn's plans for its data could extend even further. CEO Jeff Weiner has said LinkedIn wants to "develop the world’s first economic graph," and thereby "map the global economy and and every economic opportunity in the world."
LinkedIn's Talent Solutions business accounted for 57% of the company's Q3 revenue; sales rose 69% Y/Y during the quarter.