88% of organizations worldwide are still bothered by the use of legacy spreadsheets for today’s problems and datasets

IRVINE, Calif., February 3, 2022 /PRNewswire/ — Alteryx, Inc. (NYSE: AYX), the Analytics Automation company, today released findings from an IDC Infobrief commissioned by Alteryx, revealing that approximately 62.4 billion hours of data and analytics work are lost annually worldwide, equivalent to almost 100,000 human lives. As data and analytics power the digital enterprise, this study indicates that 95% of organizations still struggle with creating analytical results from the terabytes of complex raw data accumulating across the enterprise. As companies strive to transition from hoarding data to generating real insights by democratizing analytics, IDC Infobrief, “Data and Analytics in a Digital-First World”, reveals how complexity, constraints, skill gaps, and lack of analytics automation hurt productivity.

The challenge of democratizing data and analytics in a digital world

Although 70% of organizations say they want to be more data-driven now than before the pandemic, 88% of respondents still face technology constraints and 95% face operational challenges related to data and analytics . From 78M advanced spreadsheet users worldwide, data natives report that they lose 800 hours a year because 61% of data activities are still performed in inefficient legacy spreadsheets. Other key findings from the Global Data Worker Activities Study include:

  • A lack of analytics automation hurts native data productivity. Of the 61% of data workers who perform activities only in spreadsheets, 27% of their time is spent repeating the same or similar activity steps each time a data source is updated or updated. The average equivalent of seven hours a week.
  • The complexity of data and analytics illustrates the need for improved skills and technology. For example, data natives process highly distributed, diverse, and dynamic data at scale from an average of four unique sources per analytics input and 6.6M rows of data to provide an average of four unique analytical assets for consumption.
  • Data and analytics experience needs improvement as 91% of organizations report gaps in data and analytics skills. Advanced analytics skills topped the list with 44% saying there are gaps in predictive, prescriptive, and machine learning skills in their business.

“As data and analytics power the future, data literacy continues to be a challenge for organizations globally,” said Stewart Bond, Research Director, Data Integration and Data Intelligence Software, at IDC. “Data workers now expect more of their time to be spent on complex data science and application development rather than more basic preparation and analysis tasks, but skills constraints and insufficient tools impede progress To succeed, organizations must prioritize the democratization of data and analytics – putting the right tools in the right hands – with solutions that deliver experiences unified and automated data preparation and analysis.”

Goodbye data and analytical complexity, hello simplicity

Companies striving to work smarter by delivering value from data at the scale and speed of today’s digital global demands are increasingly looking to eliminate the complexities associated with creating analytical results. Highlighting the need for data simplicity and end-to-end analysis and analytics across a multiplicity of onsite and offsite data sources, formats, and qualities, the latest version of the Alteryx Platform (2021.4) simplifies the delivery of data-driven insights across the enterprise. Key features and capability highlights of 2021.4 include:

  • Create, centralize and share data connections across the enterprise: With Data Connection Manager (DCM), users will be able to accelerate the scaling of data and analytics across the enterprise. Further simplify the processes associated with sharing and managing data connection access credentials to data sources. Now, a single data connection information update will be reflected for all workflows using that connection across the enterprise. Facilitate and simplify the secure sharing, centralization and management of data connections.
  • Streamline onboarding across the enterprise: Enhanced Server APIs provide access to all core Alteryx Server features, allowing server administrators to programmatically configure users, workflows, schedules, collections, logins, and credentials to using an API. Open the door to API automation and enable teams to easily integrate Alteryx into broader IT processes and infrastructures.
  • Unleash value from a multiplicity of diverse unstructured datasets: The new Named Entity Recognition (NER) text mining tool provides automated document reading and text mining at scale, unlocking the value of data embedded in image documents such as PDFs or images, regardless of regardless of the length or format of the model. Enable organizations to fully operationalize data extraction from documents into automated analytical workflows.
  • Connect to even more data sources: Enabling organizations to fully extend organization-wide planning and analysis, a new Anaplan connector extends end-to-end analysis automation to combine an enterprise planning platform of top-notch with a top-notch data analytics platform. A new Automation Anywhere connector provides more automation flexibility and additional RPA capabilities directly into an Alteryx workflow. Additionally, new Google Drive and Outlook 365 connectors further simplify end-to-end analytics automation results.

“Relying on spreadsheets for vital data work is like trying to propel a rocket with a calculator. Companies now need to reduce the complexity of data and analytics and improve the tools available to workers data,” said Suresh Vittal, Product Manager at Alteryx. “With 100,000 lives lost each year due to inefficient analytics, the time is right for a paradigm shift. enhanced analytics experience needed to seamlessly connect and scale analytics automation and RPA integration – both on-premises and in the cloud – to help shift the balance and re-optimize analytics. data across the enterprise.”

The IDC InfoBrief, “Data and Analytics in a Digital-First World” (doc #US48688922, January 2022) is based on a full sample of 1,117 respondents in five regions: North America; Western Europe; Asia Pacific; Latin America; and central and Eastern Europe, Middle Eastand Africa. The full IDC Infobrief can be viewed and downloaded here. For more information on enhancements, features, and tips on how to grow within the company, visit here and download the latest version of the Alteryx Platform (2021.4).

About Alteryx

Alteryx, the Analytics Automation company, is dedicated to empowering every person to turn data into a breakthrough. Alteryx unifies analytics, data science, and business process automation in an end-to-end platform to accelerate digital transformation and shape the future of analytical process automation (APA). Organizations of all sizes, all over the world, rely on Alteryx to deliver high-impact business results and the rapid upskilling of their modern workforce. For more information, visit www.alteryx.com.

Alteryx is a registered trademark of Alteryx, Inc. All other product and brand names may be trademarks or registered trademarks of their respective owners.

SOURCEAlteryx, Inc.

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