As more and more organizational leaders rely on people data to make smarter business decisions, the need for analytical technology keeps growing. Workday People Analytics gives Workday customers the tools to bring prioritized insights and underlying drivers to the surface, enabling decision makers to act on workforce trends faster and with greater accuracy.
Data and insights are more important than ever. But that doesn’t make data any easier to understand. Prioritization, data literacy and scalability are challenges many companies face every day. Focusing the right resources on the right problems and knowing where and how to start building solutions isn’t always easy.
To help drive strategy, HR leaders are being required to provide insights based on organizational people data. But even with a solid understanding of workforce trends and unique business operations, delivering recommendations based on huge quantities of data with limited resources can make it hard to support key initiatives.
What is people analytics?
Gartner defines people analytics as the collection and application of talent data to improve critical talent and business outcomes. People analytics enable HR leaders to develop data-driven insights. These insights inform talent decisions, improve workforce processes and promote positive employee experience.
When done right, effective people analytics can lead your team to:
- Make better hiring decisions by predicting candidate success
- Prevent talent from leaving by predicting employee turnover
- Test which employee policies are effective — and which are not
- Identify and quantify work accident risk
- Analyze future workforce need
- Optimize the employee experience
- Link HR actions to business outcomes
As powerful as people analytics can be, it takes up-to-date employee data, the right analytical technology and buy-in from employees and leadership, to make understanding workforce trends a priority. Limited resources, an inability to manage employee data and outdated technology, push many organizations to involve a third party to conduct people analytics. This can be costly and, without a true understanding of the unique way your business operates, ineffective in identifying the underlying reasons for trends in your workforce.
What is Workday People Analytics?
Workday’s new augmented analytics functionality helps your HR team make better people decisions, faster. Workday People Analytics identifies prioritized insights in the form of key metrics, providing the user with the underlying drivers to workforce trends so organizational leaders can easily understand and act. Workday customers can now deliver personalized insights according to role-based security settings, dig deep with drag-and-drop visual data discovery, and view data in real-time.
Analytical understanding for all
You don’t have to be a data wizard to use Workday People Analytics. Each insight is paired with a story explained through natural language generation that helps you and your business leaders make better sense of the data presented. This helps you to:
- Pinpoint where trends are occurring within your organization and identify underlying drivers in categories, such as location or job profile
- Understand insights placed in context with historical trends (quarter over quarter, for example) to better assess significance
Made to automate
Analyzing mass quantities of data looking for trends can strain your resources, making it harder to generate valuable insights and easier to miss growth-driving trends. Because Workday People Analytics was designed to automate repetitive, manual data analysis tasks, your team gets time back to perform more strategic work, including:
- Custom analysis
- Communicating recommendations to business leadership
- Working with stakeholders to drive informed decision-making
Workday People Analytics use cases
Understanding your people better through trends in their employee data can help your HR team identify the important relationship between your workforce and your business growth. Workday People Analytics puts the power of your organizational data in your hands in a way that won’t overwhelm and will lead to better and more informed business decisions. In a data-driven world, Workday People Analytics ensures you’re not left behind and empowers your business stakeholders to make the best decisions for your company and your people.
Smarter decisions start here
Workday People Analytics puts the power of employee data in your hands. Find out more on how you can successfully deploy this technology by downloading the product sheet below.