Global HR Analytics Consulting Service Market Overview:
Personnel analysis consultants provide companies with analytical expertise to optimize important business processes. With a thorough understanding of HR analysis, consultants can provide insights and solutions that may not be apparent to company employees. Organizations typically work with HR analytics consultants to collect and analyze data to improve productivity and reduce costs. HR Analytics consultants combine business data with personal data to identify inefficiencies, predict productivity, and optimize workforce organization. These advisors provide companies with the insights they need to manage their human capital and improve their return on investment. You can also let management know how political and structural changes affect morale and performance. In general, HR analytics consultants work directly with the hiring manager, HR department, or personnel. To qualify for inclusion in the HR Analytics Consultants category, a service provider must create and implement a process for HR operational analysis and reporting, work closely with the HR department or staff to understand the company's needs and Create New Ways to Maximize Requirements Leverage analytics and reporting, direct implementation of data analytics, reporting, and dashboarding, and use analytical results to create actionable recommendations and optimize key business processes.
As per latest study released by AMA Research, the Global HR Analytics Consulting Service market is expected to see growth rate of 10.9%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The Growing Need among Enterprises to Reduce the Costs Associated With HR Processes and Streamline the HR Processes and Implementation of Artificial Intelligence in HR Technology Solutions
Market Growth Drivers:
Increasing Automation in HR Process Owing to Growing Adoption of Automation Technologies and Growing Demand for Efficient Management of the Operations Such as Talent Acquisition & Performance Management
Challenges:
Lack of Awareness to Adopt HR Analytics Consulting Services
Restraints:
Process of Different Companies Across Different Parts of the World Due to COVID-19 Pandemic
Opportunities:
Rising Technological Innovations and an Early Adopter of New Technologies in HR Analytics Consulting Services and A Rise in Demand for Cloud-based HR Technologies & Mobile Solutions
Competitive Landscape:
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Oracle (United States), SAP (Germany), Infor (United States), Workday (United States), Sage Software (United Kingdom), Kronos (United States), MicroStrategy (United States), IBM (United States), Tableau (United States), Zoho (India), Crunchr (Netherland), Visier (Canada) and TALENTSOFT (Paris). Additionally, following companies can also be profiled that are part of our coverage like GainInsights (India) and Sisense(United States). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global HR Analytics Consulting Service market by 2030. Considering Market by Organization Size, the sub-segment i.e. Large enterprises will boost the HR Analytics Consulting Service market. Considering Market by Industry Vertical, the sub-segment i.e. Consumer goods and retail will boost the HR Analytics Consulting Service market.
Latest Market Insights:
In May 2022, Visier, a global leader in people analytics, announced a strategic alliance with Deloitte to provide organizations with guidance and professional services support around their people analytics journey.
In October 2020, Tata Consultancy Services (TCS) launched TCS Workforce Analytics, an AI-based unified system of engagement, insights, and foresight for employees, managers, and CXOs.
What Can be Explored with the HR Analytics Consulting Service Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global HR Analytics Consulting Service Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in HR Analytics Consulting Service
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global HR Analytics Consulting Service market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in HR Analytics Consulting Service market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Providers of HR Analytics Consulting Service, End-Users, Potential Investors, Market Research Firms and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.