Workday is a cloud-type financial and personnel application that is deployed globally, introduced to one-third of Fortune 500 companies and used by 26 people globally. Prism analytics is a new feature integrated into Workday application including Workday Financial Management, Workday Human Capital Management (Workday HCM), Workday Planning and Workday Benchmarking.
It was designed in cooperation with customers such as Hitachi, Christiana Care, Shelter Mutual Insurance, Thomson Reuters, United Technologies and others. Users can cycle the ‘plan-execute-analysis’ cycle in a single environment. This new feature was announced at “Workday Rising 2017” held in the United States in October 2017.
In addition to Workday’s data, Prism can analyze data by combining data other than Workday. The foundation is the technology of Platfora acquired in 2016. Platfora has technology for data analytics and discovery; it analyzes petabyte class data in a few seconds and can display it visually. It is a new powerful technology stack for business intelligence (BI), so it is available as soon as it is built in Workday.
In addition to personnel and financial data, data can also be drawn from within the enterprise and external record system (SoR), and reporting and visualization can also be done. As an application, Workday consider situations such as discovering solutions to profitability problems through combination of financial data, sales pipeline, production line and POS data, which comprehensively comprehends company’s retirement and engagement in combination with external employee engagement survey .
In past analytics, it was necessary to define target data and link them together, but it is easy to gather data by Prism and to ease governance, conversion and management of data.
Data-As-a -Service (DaaS) ‘Workday Benchmarking’
Workday Benchmarking is Data as a Service (DaaS) which provides specific data necessary for analysis and use. By selecting a field that the user company is interested in, the data of the user company is made non-specified, it becomes possible to refer to other companies, and the comparison situation with other companies can be grasped by the dashboard.
Categories of benchmarks to be offered include corporate data such as the number of employees, retirement status, new employee data, and salary and benefits. It also provides organizational health data such as organizational integrity, work process validity, workday own login information of other companies etc. The data is only for customers, and they can select data contributing to Benchmarking. The more participating companies, the more Benchmarking data quality will be higher.
Workday Enters PaaS field by Workday Cloud Platform
Workday’s focus on PaaS ‘Workday Cloud Platform’ is also advancing. It is a service that enables customer companies and external companies to build services that utilize and extend Personnel Data of Workday and others. It will be positioned like Salesforce.com’s Force.com. Features are standards base and support for services of external cloud providers.
On the first standard basis, it uses the Restful API, and customers can build applications such as UI, data model, workflow etc. Partners can also extend Workday by utilizing their knowledge and skills using the Workday Cloud Platform. Secondly, it will prepare a reference application so that it can use services of external cloud providers such as Microsoft, Amazon Web Services, Google, as well as Workday.
Together, it also prepared a new site for developers “cloud.workday.com”. It is a place for developers to acquire necessary information for expansion and application construction and to share what they have constructed.
Workday & Its Products
Workday is a pioneer in software-as-a-service (Seas) business applications, and Workday softwares has often been recognized for its ease of use and quick implementation, compared with on-premises HCM and finance applications. Workday has never been declaring itself as ERP provider but it is widely considered to be in direct competition with Oracle and SAP.
Other Workday Products for Large & Medium Enterprise
- Business Planning
- Financial Management
- Human Capital Management
- Cloud Platform
- Professional Services Automation