Convergence of Analytics, Data Science and Process Automation Accelerates Digital Transformation, Shapes Businesses of the Future

Rhea-AI Summary

Alteryx, Inc. (NYSE: AYX) highlighted findings from a Forrester Consulting study on the critical convergence of analytics, data science, and process automation. The study reveals that 61% of businesses require self-service solutions for improved data analytics. Key takeaways include 65% of organizations fostering collaboration among data teams, 62% automating processes through integrated analytics, and 45% adopting an outcome-first methodology to achieve business goals. The need for digital transformation and workforce upskilling is emphasized, with the Alteryx Analytic Process Automation Platform positioned as a leading solution.

Positive

• 61% of survey respondents need self-service solutions for data analytics improvement.
• 65% of organizations promote collaboration between data science and analytics teams.
• 62% are automating business processes with integrated analytics.
• 45% of organizations use an outcome-first approach to align data analysis with business goals.

Negative

• None.

IRVINE, Calif., Oct. 28, 2020 /PRNewswire/ -- Alteryx, Inc. (NYSE: AYX), a leader in analytic process automation (APA), today revealed insights from a study conducted by Forrester Consulting on its behalf, which underscores the convergence of analytics, data science and process automation as critical to enabling substantial business benefits. The Forrester study, Data and Analytics: The Key to Driving the Business During Challenging Times, also highlights this converged approach as a key indicator of an organization's ability to thrive in a strong economy and remain resilient in times of volatility.

The study emphasizes the importance and urgency of upskilling workforces to achieve successful digital transformation. Organizations struggle to apply data and analytics to decision making, unless they have self-service solutions that include an option for employees to self-onboard. Specifically, 61% of respondents cite that to improve their data and analytics programs, both analytics practitioners and business users must have access to self-service solutions. Other key findings include:

• 65% of organizations currently have initiatives to encourage collaboration between data science teams, analytics teams and the business. A converged, integrated data analytics platform is a key enabler to ensuring these initiatives are successful.
• 62% of companies are working to automate business processes by embedding analytic processes into business functions. There is widespread acknowledgement of the need to infuse data into the entire organizational ecosystem and to automate analytic processes by building well-integrated, outcome-first analytics initiatives.
• 45% of organizations already take an outcome-first approach by starting with business users' goals and analyzing data to meet the business case priorities. This is largely influenced by an organization's ability to work with one data analytics platform versus siloed point solutions.

"There is no doubt the unification of analytics, data science and integrated process automation is critical to delivering business outcomes that are both insightful and actionable. With this unification also comes a heightened need for self-learning and self-service, especially as more workforces look to upskill in remote working environments," said Sharmila Mulligan, chief strategy and marketing officer of Alteryx. "The Alteryx Analytic Process Automation Platform™ leads the way in converging all critical capabilities into one, unified platform that drives high-impact business outcomes."

The "Data and Analytics: The Key to Driving the Business During Challenging Times" study is based on a comprehensive survey of 250 organizations and analytics decision makers in those organizations across North America, Latin America, Asia and Europe. The full Forrester Opportunity Snapshot can be viewed and downloaded here.

About Alteryx 
As a leader in analytic process automation (APA), Alteryx unifies analytics, data science and business process automation in one, end-to-end platform to accelerate digital transformation. Organizations of all sizes, all over the world, rely on the Alteryx Analytic Process Automation Platform™ to deliver high-impact business outcomes 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.

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SOURCE Alteryx, Inc.

FAQ

What insights did Alteryx share from the Forrester study on October 28, 2020?

Alteryx revealed that 61% of organizations require self-service solutions to enhance their data analytics, emphasizing the need for workforce upskilling and collaboration among data teams.

What percentage of organizations is automating business processes according to the Alteryx study?

62% of organizations are working to automate business processes by embedding analytics into their functions.

Which platform does Alteryx promote for digital transformation?

Alteryx promotes the Alteryx Analytic Process Automation Platform as a solution for converging analytics, data science, and business process automation.

Why is self-service analytics important according to Alteryx's findings?

Self-service analytics is important as 61% of businesses cited it as crucial for improving data and analytics programs, enabling better decision-making.