Workday analytics and dashboard analysis

by Rajesh Cynix
Posted: Oct 31, 2021

The business world today moves at a breakneck speed. To manage change, business leaders must extract the most value from their data and disseminate insights to their employees, allowing everyone in the organization to make better decisions. Unfortunately, businesses are having a difficult time putting their data to use, leaving a great organizational asset mostly untapped. Aggregation, reconciliation, and cleansing operations, as well as human reporting, are all inefficient due to low data quality and inefficient data sources. You may find that employees across a range of activities can spend about a third of their time on non-value-added tasks.

Prism analytics

Workday Prism Analytics tackles these issues for both finance and HR, while also assisting IT teams in simplifying processes, lowering costs, and reducing the time and effort required to manage legacy systems. Finance and HR now have a data hub integration right into the system of record with Workday Prism Analytics. This is which brings together the data they need while maintaining fidelity, gives decision-makers access without jeopardizing security. Then it offers simple tools for generating and consuming insights from various data sources.

Prepare to make smarter business decisions and achieve unprecedented levels of performance.

View of the Entire Performance

More than financial and HR data is used by executives, managers, and frontline decision-makers across the firm to make decisions. To gain a complete picture of business success, they require data from CRM, vendor management, LMS, engagement, and industry-specific tools. By bringing all of that data together with integration and data management features, Workday Prism Analytics enables a current, reliable, and unique picture.

Time to Insight is Reduced

When it comes to analytics, business analysts have had trouble gaining access to the data they need to quickly generate insights. This is to prepare, integrate, and analyze corporate data utilizing point-and-click capability. With powerful auditability and data lineage features embedded into the platform, users can effectively manage and modify data for reporting, analytics, and planning use cases without the need for coding or specific licenses.

They can then pass on their knowledge to colleagues and executives who require it.

Agility and Efficiency in Information Technology

IT teams become exhausted attempting to respond to business analytics requests, manage shadow access, maintain numerous security models, and install large, expensive big-data infrastructures. IT teams may use Workday Prism Analytics. This is to establish a single security policy with flexible governance that adapts to changing business needs. Because Workday Prism Analytics is completely cloud-based, we handle all of the software maintenance and updates. This allows IT teams to implement Hadoop, Spark, and the latest storage and processing technologies faster while maintaining performance and scalability.

For enhanced protection, keep critical financial and worker data in Workday and incorporate external sources as appropriate.

Create permissions based on roles that evolve as your company grows.

Distribution

Democratize data access to anybody within your organization, with reports and dashboards available on any device • Govern diverse data sources and offer decision-makers a single source of truth

Experience

You can transform data into action with analytics and transactions in one system. Then you can connect through a single user interface.
With intuitive tools, not code, and a system that's simple to implement, manage, and maintain, you can take control of how work gets done.

Characteristics

Data Management and Integration

Access Workday finance and HR transactional data via API, SFTP, or browser-based file uploads
Bring in data from any source using API, SFTP, or browser-based file uploads
Easily search, locate, and manage datasets in a single data catalog
Quickly grasp how pipelines are built with data lineage
Schedule automated updates to keep your data synchronized and current

Data Management

Apply role-based and contextual security for tailored access
Set distinct permissions for dataset generation, sharing, and publishing using the Workday security framework

Preparation at Your Own Pace

Use a straightforward interface to build data pipelines Use join, union, group-by, and filter functions to join, union, and filter datasets. Utilize a large function library to create calculated fields. To check that the data is what was intended, preview data transformations.

Insight’s production

Use an in-memory high-performance analytics engine to query large-scale datasets. Workday reports, dashboards, and discovery boards can all benefit from data from Workday Prism Analytics. Anyone in the company can benefit from your knowledge.

Ability to make more timely decisions.

You've got a lot of data, but how can you make sense of it? Workday helps you gain a clear picture of your finances, employees, and processes. So, you can make smarter decisions with a unified data core.

A centralized data hub.

We handle all financial and personnel transactions, as well as third-party and older software. Furthermore, it combines data, budgets and plans, peer benchmarks, and other features into a single system.

Self-service security based on a single model.

Allow your teams to acquire detailed reporting. Besides, they require utilizing Discovery Boards for ad hoc analysis. This is all from within their existing apps.

To answer your inquiries, use augmented analytics.

Workday searches through millions of data points and surfaces insights in easy-to-understand stories using a combination of pattern identification, graph processing, machine learning, and natural language creation.

Benchmarks that will help you raise the bar higher.

Compare your findings to those of other customers in similar situations. Our opt-in benchmarks are delivered to your tenant through email and can be included in reports and dashboards.

Report on the most important parts of your company.

Meet regulatory reporting deadlines, gain fresh insights, and make better decisions more quickly.

Case studies

How often, for example, have you waited for important financial data. This is to compile a report that allows you to track your expenditure against your budget. Workday Financial Management's dashboards allow you to view how current expenditure compares to your budget in real-time.

Perhaps you want to keep track of employee performance since your company is about to go through a review cycle. Besides, it displays current scorecards, actual-to-plan statistics, and analytics. This is to assist you in determining where your employees are and where you're heading.

You profit not just from the most up-to-date information, but also from the fact that everyone is using the same system. Workday's reporting and analytics continue to grow in depth and breadth.

Dashboards that are made to order

You may wonder if the system has a pre-built dashboard that meets your demands, however, Workday allows you to construct an endless number of custom-built dashboards across all of its apps. It's also straightforward.

To make a custom dashboard, follow these four simple steps.

Decide who needs to see the dashboard, then either add an existing security group (for example, managers and HR) or create a new one (for example, "Managers in North America").
Create a unique dashboard for yourself.
Make your report tags and include them in your reports. Any report with a compensation component, for example, can be labeled "Compensation." All of your compensation-related reports will appear in a single list if you filter by that tag.
Create report worklets, which are shortcuts that allow you to access a report immediately. You can add the worklet to your dashboard.

Conclusion

Workday dashboards bring together important management data and actionable things in one place. This provides instant insight into your entire performance, allowing you to make more educated decisions and tactics. You can move forward in using analytics and dashboard through Workday online training.