Global Workforce Analytics Market by Component Type, Deployment Type, Organization Size, End User and Region (2018-2023) - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 29, 2018--The “Global Workforce Analytics Market - By Component Type, Deployment Type (On - Cloud, On - Premises), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), End Users and Region - Growth, Trends and Forecast (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.
The Workforce Analytics market is expected to register a CAGR of over 15.64% during the forecast period 2018-2023. The report profiles the on-cloud and on-premise providers of Workforce Analytics software and service for various industries.The entry of data analytics into HR sector is one of HR’s most significant opportunities to modernize the function and raise its level the value, the growing amount of data generating from an organization company can be collected to improve the performance and output seemingly with no bounds. The organizations are now digging even deeper into analyzing the data surrounding its employees, their well-being, and their performance.
Several HR managers and analytics experts are using the data to study the behavior of employees, how they use their time in office, what makes them stay at their job, patterns of overtime, and at what times, how employees relate to each other at work all these efforts are used to understand their workforce production and performance.
Growing Demand for Workforce AnalyticsWith the advancements in the new technology such as Artificial Intelligence and Deep Learning has increased the global trade between different countries, which has made a significant impact on the work culture across the globe for various organizations which resulted in the increased number of the skilled workforce.The accelerated rise of large amounts of data generated from the various Smart devices such Radio Frequency Identification (RFID) chips, tracking sensors are connected with each other collects large amounts of data from the various devices for an instance attendance Biometric is used for an employee working duration details.For instance, Bank of America installed various smart sensors within the organizations to study how the group dynamics impacted the performance, productivity. These sensors eventually help the company to experience a 10 % improvement in the productivity by making some workplace culture changes after the study.Increasingly the workforce analytics vendors are forming the strategic partnerships with technology leaders to combine their products with the latest technologies or some workforce analytics vendors that will develop technologies on their own and can analyze the outcomes from their employees accordingly to compete with these technology vendors.For instance, Raet and Activ8 have done the partnership to develop a world-class product (Workforce analytics tool), superior to traditional dash boarding offerings.
Market Developments (2017-2018)Mar 2018: Oracle Corporation has done product innovation in the HCM Cloud with new analytics and artificial intelligence features. With this new product innovation it will help to improve engagement, recruitment, and HR productivity, and also helps to empower employees to quickly and easily access the information they need to excel at work.Aug 2017: SAP SE has done product enhancement in its product SAP RealSpend and SuccessFactors Workforce Planning tool which its cloud finance application. With this integration, it will help companies to move away from using spreadsheets for personal budgeting and enable them to fine-tune HR and finance decisions throughout the year.
Key Topics Covered
1.1. Key Study Deliverables
1.2. Market Definition
1.3. Study Assumptions
2. Research Methodology
3. Executive Summary
4. Workforce Analytics Market Insights
4.1. Workforce Analytics Market Overview
4.2. Porter’s Five Forces Analysis
4.3. Industry Value Chain Analysis
4.4. Industry Policies
5. Workforce Analytics Market Dynamics
5.1. Workforce Analytics Market Drivers
5.1.1. Increasing Data in HR Departments related to Pay rolls, Recruitment
5.1.2. Increasing Demand on Smart Decision about Talent
5.1.3. Changing Work Dynamics
5.2. Workforce Analytics Market Challenges
5.2.1. Data Security and Privacy
5.2.2. High Software Implementation issues
6. Technology Snapshot
7. Global Workforce Analytics Market
7.1. By Component Type
220.127.116.11. Talent Acquisition and Development Optimization Services
18.104.22.168. Pay Roll and Monitoring
7.2. By Deployment Type
7.3. By Organization Size
7.3.1. Small- and Medium-sized Enterprises
7.3.2. Large Enterprises
7.4. By End-user Type
7.4.1. Banking, Financial Services and Insurance (BFSI)
7.4.2. Energy and Utilities
7.4.5. Telecom and IT
7.4.6. Other End-user Types
7.5. By Region
8. Competitive Intelligence - Company Profiles
8.1. Automatic Data Processing, Inc.
8.2. IBM Corporation
8.3. Oracle Corporation
8.5. Capgemini SE
8.6. Cisco Systems Inc.
8.7. ClickSoftware Technologies
8.10. Tableau Software
8.11. Cornerstone OnDemand Inc.
8.12. Workday, Inc.
8.13. Kronos Incorporated.
List Not Exhaustive
9. Investment Analysis
For more information about this report visit https://www.researchandmarkets.com/research/hskqqz/global_workforce?w=4
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SOURCE: Research and Markets
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PUB: 11/29/2018 07:49 AM/DISC: 11/29/2018 07:49 AM