Workday is all-in on analytics as it launches Prism Analytics, a data-as-a-service effort and aims to use its platform to become the front-end to other enterprise systems. At Workday Rising, the company fleshed out Prism Analytics, which is based on the acquisition of Platfora and other purchases such as GridCraft and Upshot. Workday spent much of the last year integrating Platfora onto one code base instead of bolting systems together in a what would be another addition to a cloud menu. When Prism is coupled with Workday's move to open its cloud platform to developers, it's clear that the company is looking to gain more enterprise data under management. "Prism will work with Workday and non-Workday data sets," said Dan Beck, Workday's marketing chief.
Workday is buying analytics startup Stories.bi, the company announced Tuesday. The deal is meant to support Workday's analytics ambitions, namely Prism Analytics. Stories specializes in augmented analytics, an approach "that leverages machine learning and artificial intelligence technologies to automate analysis and deliver insights into what's happening in a business," Workday said in a blog post. Specifically, the software identifies top-line trends and issues from company data and then delivers insights to the business user in an easy to digest, conversational headline. From there, the system suggests drivers behind the headline and what actions to take next.
We're living at a time when we're awash in data, but short on ways to quickly turn that data into information we can act on with confidence. Much like the sailor in the classic Samuel Taylor Coleridge poem who laments, "Water, water, everywhere, nor any drop to drink," the problem isn't the quantity of data. The problem is that it's not easily consumable.Too often, data is disparate and disconnected from essential business processes, making it difficult to use in a timely way. At Workday, we've designed all of our products to give customers more visibility--into their workforces, financials, recruiting pipeline, and more. The former lets you zoom out to see how your company's performance compares with peers, and the latter lets you zoom in to use all the information relevant for your business, not just the data that lives inside your Workday system.
Workday announced Friday that it will acquire Rallyteam, makers of talent management software for enterprises. The acquisition includes Rallyteam's technology and team, and no financial terms were disclosed. According to Workday's blog post announcing the deal, Rallyteam's platform uses machine learning to help companies better understand their workers. Its system matches an employee's interests, skills and connections with relevant jobs, projects and tasks. The aim is to optimize an existing workforce to meet business needs.
Workday said it will acquire Adaptive Insights, a cloud-based business planning software company, for $1.55 million With the move, Workday is planning to add Adaptive Insights to its finance and human resources wares as well as its efforts to offer planning. According to the company, Workday's Planning Cloud and Adaptive Insights will be combined. Adaptive Insights CEO Tom Bogan will report to Workday CEO Aneel Bhusri. Workday has started a bit of a buying spree. Last week, Workday acquired Rallyteam.