Workday buys analytics startup Stories - Techies Updates

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Thursday, July 19, 2018

Workday buys analytics startup Stories

The deal is meant to support Prism Analytics, Workday's data-as-a-service effort.

Workday buys analytics startup Stories
Plan Vs Actuals

Workday is buying analytics startup, the company announced Tuesday. The deal is meant to support Workday's analytics ambitions, namely Prism Analytics.

Stories specialize 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.

"With the addition of this incredible team and technology, we will power our analytics products to be more intelligent and our UX to be more conversational," wrote Peter Schlampp, VP of Workday Analytics. "This means our customers can find even more opportunities to improve their business without having to dig through data or wait on detailed reports."

This year the company has made machine learning a focal point for acquisition targets.

In January, Workday bought SkipFlag, makers of a so-called AI knowledge base that builds itself from a company's internal communications. With that deal, Workday said it was taking another step in its efforts to invest in the areas of machine learning, advanced search, and natural language processing.

Workday also recently bought Rally team, makers of talent management software for enterprises. Its platform uses machine learning to help companies better understand their workers, and Workday said it would incorporate Rally team's technology into existing products.

Workday's core analytics service Prism also stems from an acquisition -- the company's purchase of Platfora in June 2016. Workday spent much of 2017 integrating Platfora onto one code base instead of bolting systems together in a what would be another addition to a cloud menu.

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