Workforce analytics are the set of tools which are used to analyze the performance of the employees/workers in an organization. These tools and metrics are ideal in analyzing staffing, training & development, cost per hire, retention rate and all similar workforce related parameters which allow enterprise leaders to optimize their human resources.The recent trends in workforce analytics shows that the rising need for effective return on investment (ROI) and to mitigate company’s overall investments is leading to the adoption of workforce analytics tools in the organizations.

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Workforce analytics market is segmented on the basis of:

> Type
> Deployment
> End-use industry

On the basis type, work force analytics market is further segmented into

> Solutions
> Services.

Workforce analytics solutions are the software tool which help an organization to manage its workforce.

The services are the parallel business consulting, implementation of solutions and expert opinions
which are provided to an organizations post deployment of the workforce analytics tools.

On the basis of deployment type, work force analytics market is further segmented into

> On-premise and
> Cloud-based.

An On–Premise workforce analytics tool allows organization to set-up the infrastructure inside the company’s premises.

Cloud-based workforce analytics require networked services linked with remotely located cloud storage, which are provided by the software service provider.

In terms of end-use industry, workforce analytics market is further classified into

> Telecom and IT
> Manufacturing
> Retail
> Healthcare and research
> Government and Public Sector
> Banking
> Financial Services and Insurance (BFSI)
> Others (education, travel & hospitality and media & entertainment)

Shrinking task force to enhance company performance is key aspect which is leading to the adoption of workforce analytics and subsequently increasing its market growth. However, data security concerns for the cloud based workforce analytics tools may restrain its market. Also, lack of awareness amongst the organizations, especially in emerging markets is hampering its market growth.

Improvement of work analytics tools in terms of its interface and end results has fuelled its penetration in the North American region.Similarly, with improving analytical skills in developing economies is expected to lead in its adoption in near term. On the global scale, North America region is expected to dominate in terms of uses of workforce analytics tools in coming years.

Escalating workforce in Asia pacific region is expected to propel workforce analytics market in the forecast period.

Some of the key players in the development and manufacturing of workforce analytics systems include :

> Visier, Inc.
> Genpact Ltd.
> SAP Success Factors
> Peoplefluent companies
> Kronos, Inc.
> Aquire, Inc.
> Workday, Inc.
> PeopleStreme Pty. Ltd.
> Towers Watson & Co., Oracle Corporation
> Cornerstone OnDemand, Inc.
> WorkForce Software LLC
> Tableau Software, Inc

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