Workforce Analytics Market Synopsis:
With the advancements in technology and increase in the global trade, it has made a huge impact on the work culture across the globe for different organizations resulting in the decrease of the skilled workforce. This dynamic change in the workforce has made the management to utilize the workforce analytics to better optimize the customer needs and employee workforce. The factors that restrain the growth of the workforce analytics market is lack of awareness in modern workforce analytics.
Workforce analytics is a platform designed by the combination of software and algorithms implementing the statistical models to the work force related data giving the benefit to the enterprises to efficiently optimize the human resources management. The result of the workforce analytics allows the organizations to develop and improve the methods of recruiting and effectively take the hiring decisions. Additionally the analytics software help the organizations identify the new positions needs and predicting the success of the employee.
The adoption of Workforce Analytics Market from small and medium businesses and growth in demand for mobile applications are expected to drive global workforce analytics market. This proves a great benefit to the higher management in identifying the factors that influence the employee job satisfaction.
According to Market Research Future, the Global Workforce Analytics Market has been segmented into Type, deployment, Organization Size, Industry Vertical and region.
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Major Key Players:
- ADP LLC (U.S.)
- Aquire, Inc (U.S.)
- Cornerstone OnDemand Inc (U.S.)
- Genpact Ltd (Bermuda)
- IBM Corporation (U.S.)
- Kronos Inc (U.S.)
- Oracle Corporation (U.S.)
- PeopleSreme Pty. Ltd (Australia)
- SAP SE (Germany)
- Tableau Software (U.S.)
- Tower Watson & Co (U.S.)
- Visier Inc (Canada)
- Workday Inc (U.S.)
- WorkForce Software, LLC (U.S.)
On the basis of region, the market for workforce analytics is divided into North America, Europe, Asia pacific and rest of the world. North America region is leading the market in workforce analytics majorly due to the presence of big and large number of vendors. Also Increase in the early adoption of cloud – based workforce analytics from U.S and Canadian companies with the shift towards software as a service in cloud-based workforce analytics.
Following North America is Europe and Asia pacific. Various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. The leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio.
Current trend and developments:
- Cloud based workforce analytics is expected to be the trend due to elimination of maintenance and installation issues. Business models such as software as a service, platform as a service are expected to result in greater traction.
- Strategic mergers and acquisitions so as to benefit complimentary technologies of both players and to reduce development costs and time is an attractive strategy
- Mobile based workforce analytics is expected to be the next revolution due to technological convergence and mobility advantages
- Growing automation and the cost effective collection of data from multiple sources resulting from increased capabilities of analytics
- Improved user interfaces and integration into other system platforms such as enterprise or financial, so as to provide holistic solutions.
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Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
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