Workforce Analytics Market is projected to grow up to USD 1,262 million by 2027 growing at a CAGR of % during the forecasting period 2021-2027.
Workforce analytics is a software and methodology combination that applies statistical models to employee-related data, allowing business leaders to optimise human resource management. Workforce analytics is used to investigate employee behaviour and people data in order to make better workforce decisions. This aids in raising the productivity of existing employees rather to employing additional personnel, as well as refining the selection criteria.
The job dynamics of HR departments have changed rapidly in recent years. In addition, the increasing number of documents and data sheets in HR departments may operate as potential drivers in the global workforce analytics market. There are certain constraints and hurdles that will stymie market expansion. Factors such as a lack of understanding about workforce analytics technologies and a reluctance to adopt existing practises may stymie market expansion. Challenges such as a lack of analytical skills, combining all accessible data from various sources, and concerns about data privacy are also predicted to have an impact on the workforce analytics industry throughout the forecasted period
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Workforce Analytics Market, By Type
Key Points
Solutions
Services
Consulting Services
System Integration Services
Managed Services
Workforce Analytics Market, By Development Type
Key Points
Public Cloud
Private Cloud
Workforce Analytics Market, By Organization Size
Large Enterprise
Small & Medium-sized Enterprise
Workforce Analytics Market, By Vertical
Key Points
BFSI
Energy & Utilities
Government & Public Sector
Retail
Healthcare
Telecom & IT
Travel & Hospitality
Manufacturing
Others
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