Demand for People Analytics Tech Soared by 53% in 2021, According to RedThread Research, Driven by the Need to Improve Employee Experience
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Source: PR Web
WOODSIDE, Calif. (PRWEB) May 17, 2022 New research shows massive year-over-year growth in demand for people analytics technology (PAT), with much of the market targeting solutions to improve employee engagement and experience. The size of the people analytics market, its rapid growth, and the prevalence of investment and acquisitions indicate a strong and deepening commitment to PAT across business verticals. "The market grew at an unprecedented rate, with a 53% growth rate between 2020 and 2021, and an 80% compound annual growth rate (CAGR) for the past five years," according to the new report, "People Analytics Technology 2022: Executive Summary," released today by RedThread Research. "We're seeing explosive growth in this sector," said Stacia Garr, cofounder of RedThread Research and coauthor of the report. "People analytics capabilities are advancing at a moment when businesses are ravenous for this kind of information as they face an onslaught of new challenges and uncertainty
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