Workday Buys 'Augmented Analytics' Firm Sories.bi

In the US, enterprise software developer Workday has acquired Sories.bi, which specializes in 'augmented analytics'; an approach that uses machine learning and AI to automate analysis and deliver insights into what's happening in a business. Terms of the deal were not disclosed.

San Francisco-based Sories.bi's software automates the analysis of millions of events to uncover topline trends in sales, costs and (consequently) P&L. The firm then delivers personalized insights to a business user in a conversational, headline form, allowing them to drill down deeper to understand the underlying drivers. This might include understanding of how a financial figure compares to a previous quarter's, the reasons for the change, and what actions might be taken next.

Workday VP Pete Schlampp (pictured) says Stories.bi is 'one of the most innovative players in the analytics space', and comments: 'We've been heavily investing in expanding the breadth and depth of our analytics capabilities by delivering robust solutions, including the addition of Workday Prism Analytics, which equips customers with faster, more intelligent ways to uncover true business insights from the growing volume and variety of data across their organizations'.

Web sites: www.workday.com and www.stories.bi .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.