The Workforce Analytics Market involves workforce analytics that are a set of tools used in analyzing the performance of employees in an organization. The analytics software can analyze staffing, training & development, cost per hire, retention rate and other work related parameters that allow enterprise leaders to enhance their resources.
The Workforce Analytics Market can be divided on the basis of type, deployment and end use industry. In the basis type, the market can be subdivided into solutions and services. Workforce management analytics can help an organization to manage its workforce. On the deployment type, the market can be divided into on premise and cloud based. The on premise workforce analytics tool allows the company to set up an infrastructure inside the company’s premises. The cloud based workforce analytics needs network services that are connected with remotely located cloud storage. In the end user industry, the market is divided into telecom and IT, manufacturing, retail, healthcare and research.
Scope & Regional Forecast of the Workforce Analytics Market
The Workforce Analytics Market growth is enhanced by the adoption of workforce management software due to the reducing task force to improve the performance of the company. But data security concerns for the cloud based analytics tools can inhibit the market. The lack of awareness among organizations and in the emerging markets inhibits the market growth. Improvement of workforce planning in terms of its interface and end results has boosted the market in North America. It can dominate the market in the coming years.
Increasing workforce in the Asia Pacific region will drive the market. Predictive analytics is important in analyzing the task force in companies with high accountability of workers. The more number of employees and changing working dynamics will be responsible for the growth of Workforce Analytics Market.
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Segmentations & Key Players Involved in the Workforce Analytics Market
The Workforce Analytics Market can be broken down into various segmentations on the basis of –
- Type- Solutions and services.
- Deployment- On premise and cloud based.
- End use industry- Telecom and IT, manufacturing, retail, healthcare and research.
- Regions- North America, Asia Pacific, Europe, Middle East and Africa, Latin America.
Some of the key players involved in the Workforce Analytics Market are as follows:
- Visier, Inc
- Genpact Ltd
- SAP Success Factors
- Peoplefluent companies
- Kronos, Inc
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