Since Workday was launched, it has followed a clear design idea called “The Power of One”, this statement represents the uniqueness of the four main principles followed by the solution, one user experience, one security model, one community and one source of data. As we all know, Workday is escalling its product in order to fit their clients’ requirements and it has already launched Workday Extend, with the objective of developing new applications within Workday, and Prism analytics that will enhance the last main principle mentioned before, the data experience.
Workday Prism Analytics is an end to end platform, that is part of the Workday analytics services, that was launched with the release of Workday 31 and allows users to integrate external and Workday data, blend it, transform it… in order to put operational insights into the right hands at the right time.
One of the most repeated scenarios for all kinds of companies is to share all kinds of different solutions for their HR, financials, expenses, project management… although Workday has really good reporting capabilities it did not allow reporting on external data managed or generated by other suites until now. Prism analytics will cover this functionality, allowing customers to build all types of reports using external data, and also, if desired, building relationships between data stored in Workday and data retrieved from other solutions used for the company. The way of data acquisition follows a similar design of inbound integrations, allowing data transformation and data publishing in Workday creating custom data sources that will be available to the users that have the convenient rights to view or modify them, such as a Workday delivered data source.
The following example is a good situation where a company can take great advantage of using Prism Analytics:
- One company has two different tools, the first one called “E-Trade” that gives us information about stock grant values. The second system is Workday HR, used for the management of human resources.
- The company wants to join employee data and the stock price grants that have been granted to employees. Prism analytics would allow us to manage this and to show the data in Workday. The data flow used for this each use case should like something similar to this:
In the end, Prism Analytics is a good opportunity to extend the Workday reporting analytics, optimize the data management of different systems in a single platform and allow key users to extract value from the same source in the same way, in order to make better decisions.
- Importing Data and Extracting Value Using Prism Analytics - 25 November, 2020
- Empower Workday Chatting on Microsoft Teams - 1 September, 2020