What types of analytics does Workday Financials offer?

Workday Financials provides a comprehensive suite of analytics that includes descriptive, predictive, and prescriptive analytics.

Descriptive analytics allows organizations to analyze historical data, gaining insights into what has happened in the past. It effectively summarizes past performance and identifies trends over time, which is essential for informed decision-making.

Predictive analytics goes a step further by utilizing statistical models and machine learning techniques to forecast future trends based on historical data. This is vital for planning and budgeting, as organizations can anticipate potential outcomes and prepare accordingly.

Prescriptive analytics then enhances the decision-making process by recommending specific actions based on the insights derived from descriptive and predictive analytics. This type of analytics helps businesses understand the potential implications of their decisions, allowing them to choose strategies that align with their objectives.

The other options provided do not encompass the breadth of analytics that Workday Financials offers, limiting the understanding of the various ways organizations can leverage data to drive strategic decisions. Only descriptive analytics, qualitative analysis, or solely visual analytics would miss out on the valuable insights and foresight provided by predictive and prescriptive capabilities.