Today, Higher education institutions face a perfect storm: declining enrollment, decreasing federal funding, and ever-increasing operational expenses. These pressures demand unprecedented levels of agility, efficiency, and insight from leadership. Yet, many institutions are still grappling with fragmented data, departmental silos, and reporting complexities that hinder effective decision-making.
This is where a robust Foundational Data Model (FDM), particularly within a system like Workday, becomes not just a nice-to-have, but a strategic imperative. The Groove, the fastest growing Workday Services Partner, emphasizes that an FDM assessment is the crucial first step toward transforming your institution's data landscape. Let’s take a look.
The Data Dilemma in Higher Education
Data in Higher Education is more important than you think. Ask yourself, is your organization lacking in data deployment? Are there sudden decreases in funding and enrollment while expenses are at an all-time high? Take a deeper look at the data dilemmas in Higher Ed:
- The Enrollment Cliff and Devaluation of Education impact Enrollment: Admissions and financial aid need precise, real-time data to understand student pipelines, optimize recruitment efforts, and manage scholarship allocations effectively.
- Shrinking State Appropriations: Grant management, research initiatives, and departmental budgets require rigorous financial oversight and accurate reporting to secure and maximize available funds.
- Rising cost of living, wages and technology: Every department, from academic affairs to facilities, contributes to the bottom line. Understanding cost drivers and identifying efficiencies requires a holistic view of financial and human capital data.
When HR and Finance data exist in separate systems, with inconsistent definitions and manual reconciliation processes, these challenges are compounded. Discrepancies abound, data silos prevent integrated insights, and complex structures become a nightmare to manage. Sound familiar? These are precisely the six reasons to review your FDM (Foundational Data Model).
Workday FDM: A Unified Vision for the Future
A Workday Foundational Data Model is designed to break down these tough barriers by providing a single, coherent framework for all your human capital management (HCM) and financial data. It's about more than just technology; but about aligning your organizational structure, processes, and reporting needs under one roof.
The Groove’s Foundational Data Model Assessment, like the two-week engagement offered, involves a comprehensive analysis of your data systems, structures, and processes. From the assessment, our team of experts can identify any gaps and inefficiencies in your data practices and offer easy-to-implement recommendations for optimizing data management. The team identifies gaps and inefficiencies, offering easy-to-implement recommendations. The key deliverables from such an assessment are game-changing
Let’s take a closer look:
- A "To-Be" Foundational Data Model: This isn't just theory. It's a clear roadmap illustrating the transition from legacy, static data sets to dynamic, future-state structures. Imagine seamlessly linking student demographic data with course enrollment, faculty workload, and departmental budgets – all within a unified model.
- Comprehensive Analysis: You gain a deep understanding of your current data models and organizational structures, uncovering new dimensional attributes that can support future growth initiatives, such as new academic programs or research centers.
- Proof of Concept in Workday: The Groove even builds proof of concept, allowing you to see your future processes and data in Workday's aligned structures. This is critical for visualizing how a unified FDM directly enhances reporting and decision-making by showing real-world scenarios in your own Workday tenant.
From Data to Decisive Action
With a well-optimized FDM, higher education leaders can finally achieve the visibility needed to make informed, strategic decisions in real time:
- Integrated Reporting: No more pulling data from disparate systems and manually stitching them together. HR and Finance data flow seamlessly, enabling robust reporting on everything from faculty costs per student to the true return on investment of academic programs.
- Enhanced Strategic Planning: By understanding the true cost of programs, the impact of staffing decisions on budgets, and the efficiency of operational processes, institutions can allocate resources more strategically and respond proactively to market shifts.
- Improved Compliance & Audit Readiness: A consistent FDM reduces data discrepancies, making regulatory reporting and internal audits simpler and more reliable.
The Groove’s Role in your FDM Journey
In today's challenging higher education landscape, maximizing your enterprise-wide capabilities and laying the foundation for a more refined, dynamic structure isn't optional – it's essential for survival and growth of your higher education org. The Groove's Foundational Data Model Assessment offers the visibility and actionable recommendations your institution needs to unlock its full potential.
Don't let outdated data structures hold you back. Taking the first step towards a unified Workday FDM can transform how your institution operates, providing the clarity and control needed to navigate any storm.
Contact us today to get started on your Foundational Data Model Assessment.
