Workday Prism Analytics 101—What You Need to Know
Data is a powerful asset. But did you know that 99.5 percent of collected data never gets used or analyzed? Imagine all the insights companies could use to improve their organizations, allowed to go to waste.
In today’s business landscape, companies that leverage data and transform it into actions are more likely to succeed and stay ahead of the competition. However, doing so requires business leaders to have relevant, up-to-date, and accurate data, which can be tricky if it’s spread throughout the organization. Luckily, Workday customers have a tool to bring all that information together—Workday Prism Analytics.
Read on to learn about what Workday Prism Analytics is, some of its many capabilities, and how the solution can benefit your organization.
What is Prism Analytics?
Workday Prism Analytics is a self-service analytics solution for finance and HR teams that allows organizations to bring external data into Workday, combine it with existing people or financial data, and present it through Workday’s reporting framework. This gives you a holistic set of insights that can be done in a flash.
Workday Prism Analytics is a native component in the Workday fabric, which means it has the same look and feel as other Workday applications, on the surface, at least. Under the hood, however, it works seamlessly and securely with Workday and non-Workday data alike.
Capabilities of Workday Prism Analytics
Here are some of the features and capabilities you’ll find in Workday Prism Analytics:
Data Management and Integration
With Prism, you can bring in data from any source via API, SFTP, or browser-based files. You can also schedule automatic updates to keep your data synced and current. It’s easy to search, discover, and manage datasets in a single data catalog.
Prism gives business analysts a secure space for business data that they can prepare, combine, and analyze with a click of a button—no coding required. Adding to the convenience, these insights can easily be shared with colleagues or the big boss to review.
The Workday security framework allows you to govern data and apply role-based and contextual security for personalized access. You can also set different permissions and separate duties for dataset creation and publishing.
Workday Prism Analytics’ intuitive interface makes it easy to create and maintain data transformation pipelines, plus, you can apply join, union, group-by, and filter functions to any dataset. Finally, you can preview data transformations to ensure your data is what was expected, before go-live.
Prism allows you to query large-scale datasets with an in-memory high-performance analytics engine. (In other words, you can analyze data in a snap). Plus, all of your insights can be generated from desktop or mobile and then shared with anyone in the org.
Benefits of Workday Prism Analytics
There are many benefits to Workday Prism Analytics, but three of the most important would be security, ease of use, and having access to the complete business picture.
We can never talk enough about the importance of security these days. Workday has a single security setup that keeps your most vital and sensitive financial and people data secure. The ability to set role-based permissions and flexible governance allows you to easily open access to the people who need it.
Ease of Use
Prism is also easy for your HR and finance teams to use. Traditional tools often use an SQL interface, requiring users to write and maintain complex queries. But Prism has a clean user interface that hides the complexity of SQL.
The Big Picture
Finally, business leaders rely on more than financial and HR data to make decisions. Prism makes it easy to tap into data from other sources like CRM or point-of-sale, bringing all of that information together (accurately and reliably) so the folks directing the ship can get the full view of the shoals ahead.
Getting Started With Workday Prism Analytics
If you’re ready to go “all in” with Workday Prism Analytics, our senior-level Workday consulting team is here for you. Whether you’re interested in implementing the tool, just getting started and need some help, or you’re an old pro who’d like to optimize your setup, we’ve got your back.
Contact us today to start putting your data to work for you.