What is Human Resource Analytics?
Human resource analytics is the collection and application of talent data to improve critical talent and business outcomes. Human resource analytics leaders allow human resource leaders to develop data-driven insights to inform talent decisions, enhance workforce processes and promote positive employee experience. It is also known as people analytics, workforce analytics, or talent analytics. It revolves around analyzing people's problems using data to answer critical questions about the organization.
The market study is broken down by Type (Turnover and Recruitment), by Application (Employee Retention, Employee Performance, Employee Recruitment, Employee Development and Others) and major geographies with country level break-up.
Global Human Resource Analytics is a fragmented market due to the presence of various players. The players are investing more in mergers and acquisitions to enhance their market presence. The companies are planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
UKG (United States), ChartHop (United States), ClearCompany (United States), Hireology (United States), IntelliHR (Australia), Personio GmbH (Germany), Visier (Canada), Sprout Solutions (Philippines), Hi Bob, Inc. (United States) and AIMultiple (Estonia) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Human Resource Analytics market by Type, Application and Region.
On the basis of geography, the market of Human Resource Analytics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Enterprise Size, the sub-segment i.e. SMEs will boost the Human Resource Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Features, the sub-segment i.e. Utilises Machine Learning will boost the Human Resource Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On 7th December 2021, Visier has announced the strategic partnership with UKG. It helps to accelerate the workforce management capabilities over the employee’s journey. The customers of both companies can leverage people's data and insights to make better-informed business decisions.
On 24th August 2021, Visier has launched a new packaged solution named Visier NOW. It is specially designed to address today’s urgent workforce challenges, the suit of Visier NOW solutions. The new solution includes AI-powered analytics and planning tools trusted by the world’s most recognizable brands, pre-built questions, analytics models, and best practices targeted to a specific challenge, and white-glove implementation and tailored support services.
- Strategies to Improve Retention
- Technological Advancement over the Globe
- Improved Understanding of the Company and its Progress
- Growing Adoption of HR Analytics Tool
- Lack of the Statistical and Analytical Skillset to Work with Large Datasets
- Organisation Lacks Data Governance while using the Human Resource Analytics Tool can create Opportunities for the Market Growth
Key Target AudienceHuman Resource Analytics Developers, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as UKG (United States), ChartHop (United States), ClearCompany (United States), Hireology (United States), IntelliHR (Australia), Personio GmbH (Germany), Visier (Canada), Sprout Solutions (Philippines), Hi Bob, Inc. (United States) and AIMultiple (Estonia) etc.
2. Can we have customized study for Human Resource Analytics Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. What would be the Market Size of Human Resource Analytics Market by 2026?
Analysts at AMA estimates Human Resource Analytics Market to reach USD Million by 2026.