In a groundbreaking measure to enhance human resource decision-making in enterprises, Everest Group, a leading research firm, has recently unveiled its inaugural PEAK Matrix® assessment for providers of people analytics platforms. As businesses increasingly shift towards data-driven methodologies, people analytics platforms have emerged as essential tools in managing and optimizing workforce strategies.

The significance of this assessment cannot be understated as it comes at a time when organizations worldwide are taking major strides in data utilization to make informed HR decisions. The core of these people analytics platforms is their ability to aggregate and analyze data from a variety of sources, offering valuable insights for strategic and operational decision-making across the hire-to-retire cycle. This includes areas ranging from recruitment, compensation, and learning and development to employee engagement and diversity, equity, and inclusion (DE&I) efforts.

Everest Group’s PEAK Matrix® provides a detailed landscape of the market, showcasing the leading technology providers that are enabling companies to leverage these advanced analytic capabilities. The report categorizes firms into three main groups: Leaders, Major Contenders, and Aspirants. This year, six companies—Crunchr, Dayforce, One Model, SplashBI, Visier, and Workday—have been distinguished as Leaders in the field. Visier is noted particularly for holding the highest market share among its peers.

This classification is pivotal for businesses in selecting the right partners to enhance their people analytics capabilities. Leaders are recognized for their market success and robust delivery capabilities, prevalent through their innovative use of AI and machine learning technologies.

These platforms essentially serve as a single source of truth, allowing enterprise leaders and HR professionals to shift from intuition-based to data-driven decision-making. The evolution of these technologies facilitates a range of functions, from forecasting future staffing needs to understanding the factors influencing employee turnover.

Furthermore, the PEAK Matrix® also evaluates the vision and capabilities of each provider, considering the breadth and depth of product functionalities, innovations, and partnerships. Their market performance, client feedback, and input from system integrators further enrich the assessment, providing a comprehensive understanding of where each provider stands in the competitive landscape.

Everest Group’s expertise in market research and strategic advice comes into play through their proprietary PEAK Matrix® evaluations, which are a trusted resource for businesses looking to deepen their market insight and operational strategies. As organizations continue to face ever-evolving workforce challenges, such tools are becoming increasingly crucial in crafting effective and responsive HR policies and strategies.

This venture by Everest Group not only highlights the current state of the people analytics field but also sets a benchmark for technology providers striving for excellence in this rapidly growing market. The assessment is a testament to the importance of technological adoption in driving human resource success and overall organizational efficiency. As we move forward, the influence of such technologies is expected to redefine the paradigms of HR operations and strategic decision-making on a global scale.