A combination of methodology and software that gears the statistical models to the data that is related to the worker that allows the higher authorities of the company to develop the human resource management is workforce analytics. With the help of the workforce analytics, it becomes easy to analyze the efficiency of the employees in the organization. There are many more things that can be identified using the workforce analytics such as the need for the development of the new departments, requirement of new positions, the risks related to employees in certain positions, the job satisfaction, and so on.
Global Workforce Analytics Market: Segmentation
The workforce analytics market is globally segmented into its type, deployment type, organization size, vertical and by regions. On the basis of the type, the global market is categorized into solutions and services. The services are further sub-classified into managed services, consulting services, and the system integration services. Based on the deployment type, the global market is categorized into the private cloud and public cloud. The organization size of the workforce analytics market is divided into small and medium-sized enterprise and large enterprise. The different verticals of the workforce analytics are energy and utilities, retail, telecom and IT, BFSI, government and public sector, healthcare, travel and hospitality and others. On the basis of the regions, the global market is diversified into Asia-Pacific, Europe, North America, the Middle East and Africa and Latin America.
Global Workforce Analytics Market: Growth Factors
The major driving factor for the growth of the workforce analytics market is the rise in the competitiveness in the business, which demands better workforce analytics for better outputs. The ever changing work dynamics has also increased the demand for the global market. Less amount of task force to enhance the performance of the business organization is the key aspect that is leading the acceptance of the workforce analytics, thus driving the global market growth. The factors that are hampering the global market growth are the lack of awareness in some of the organizations about the workforce analytics, the data security concerns related to the cloud-based workforce analytics tools are restraining the global market growth.
Global Workforce Analytics Market: Regional Analysis
The North American region is dominating the global workforce analytics market. It is due to the advanced tools in the workforce analytics and the penetration of the tools with its interface and end results has fueled the global market growth. The Asia Pacific region is also contributing its share towards the market growth. Based on the countries that are giving a major share in the market growth are the US, the UK, China, India, Germany, France and Japan are the regions which have adopted the workforce analytics on a wide scale.
Global Workforce Analytics Market: Competitive Players
The main market players in the global workforce analytics market are Genpact Ltd., Peoplefluent Companies, Aquire, Inc., Towers Watson & Co., Cornerstone OnDemand, Inc., Tableau Software, Inc., Visier, Inc., SAP Success Factors, Kronos, Inc., Workday, Inc., PeopleStreme Pty. Ltd., Oracle Corporation, and WorkForce Software LLC.
Source: Zion Market Research, the market research group announced the analysis report titled “Workforce Analytics Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024″