Personal Analytics Market New Biggest Innovations in Mobile And Entertainment, Government, Healthcare & Life Science, Travel & Hospitality): Expected to Witness the Highest Growth Forecast, 2021 –2027

Personal analytics is a process to analyze and explore own data for individual to achieve dedicated range of objectives and benefits across work and personal lives. Personal data includes human health, hobbies & preferences, areas of interests, mobility, daily chores, social media activities, personal finance, biometrics, behaviors, and emotional states.
It has incredible potential to improve quality of one’s life through self-sensing, self-awareness, and self-advancement. Personal analytics will aid better decision making to attain a gamut of objectives in individual’s personal and professional lives, and also provide an enhanced user experience.

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Numerous factors such as rise in adoption of digital devices to enhance the lives, growing demand of data science for personal smart devices, increased implementation of IT technology in personal lives, evolving workday, improved performance and quality are some of the factors which are key driving factors for the growth of the factor. However, lack of awareness and data privacy and security of personal data may hinder the growth of the market. Furthermore, increased awareness of internet of things, artificial intelligence and increased adoption of cloud technologies is expected to boost the opportunities for the market.
Organizations are able to see the numerous benefits offered by the data science and thus implementing the same algorithms on the personal data in order to provide personalized and detailed analysis. The data generated from the personal analytics is a huge such as tens of thousands of rich, accurate, longitudinal data points which can be collected from their social, wearable for the analysis. Integration of these data with machine learning data can be set for the sentiment analysis. Thus, huge data generated from the personal accounts can be integrated with data science is expected to boost the opportunities for the market.

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Data associated with personal analytics software is highly confidential and personal,leakage of this data may cost a huge amount to both individual as well as organizations and usually the data is prone to cyber thefts. Hence, sharing the data on the software are still not the appropriate and thus concerns for the data safety may hinder the growth of the market.
Organizations are able to see the most value asset to the organization which is human resource. The traditional intelligence would only be able to deliver big picture of process, roles and structure. However, with the personal analytics enterprises would be able to see a more detailed and personalized analysis which will also enable employees to enhance their personal productivity in terms of their desired versus their actual way of working. In addition to this personal analytics also helps to explore their own data in order to achieve a range of objectives and benefits across the work and personal lives. Personal analytics also helps to improve and enhance time management skills, communicational skills, and organizational skills. It also helps to identify the highly influential and impactful people to the user. Thus, the enhanced productivity is driving the growth of the market.

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