Workday Takes Over Analytics Startup Stories.bi

Workday, Inc., a California-based software company, announces on Tuesday that it has acquired Stories.bi, an analytics startup, to expand the breadth and depth of its analytics capabilities, namely Prism Analytics, which equips customers with ways to uncover business insights from the growing volume and variety of data across their organisations.

Stories.bi specializes 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.

“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. This means our customers can find even more opportunities to improve their business without having to dig through data or wait on detailed reports,” said Workday’s Peter Schlampp.

“I’m excited to announce that we are taking another step forward in our analytics journey with the acquisition of Stories.bi, one of the most innovative players in the analytics space,” he added.

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

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, the business technology news website added.