Alteryx study: improving the analytical maturity key to bridging the gap between business priorities and business performance in the APAC area

With new insights into the capabilities of Asia-Pacific companies (APAC) to create business value from data analytics, Alteryx, Inc., an analytics automation company, today released the results of its research report titled “Towards Asia-Pacific Analytical Automation” announced. The survey, conducted by International Data Corporation (IDC) and commissioned by Alteryx, shows that there is a significant gap between business priorities and local business performance that can be bridged through staff shortages and process analysis.

According to the survey, APAC companies’ top business priorities include customer experience, increased productivity, cost reduction, new product development, and business model innovation. While more than 90% of entrepreneurs today believe that data analytics is important to the smooth running of their organizations, fewer than one in five companies (19%) in the region have achieved high analytic maturity. Companies that are “analytically savvy” tend to outperform their peers on all top business priorities, especially in areas such as cost reduction (56 percent), business model innovation (28 percent), new product development ( 17 percent), and market expansion (12 percent). Percent)

To help APACs determine their level of analytic maturity, IDC designed a framework that assesses their standing on four key dimensions – strategy, data, workforce, and process, before a total score is given to identify beginners, practitioners or experts. In addition, the framework outlines the path to becoming an analytics expert to achieve maturity in strategy, data, workforce, and process.

The survey found that companies in the region are more mature in strategy and data sizing: 48% achieve sourcing and alignment among key stakeholders in analytics initiatives, but only 38% establish policies and practices to ensure data integrity. However, the vast majority lack the necessary human resources (86 percent) and computing resources (93 percent), which are essential to achieving large-scale data-driven transformation and long-term business value.

APAC also suggests that,

companies need to create human resources or process-related resources to derive business value from data analysis. In their daily tasks, managers across the region are currently struggling with hard-to-use tools (55 percent), distributed and unsupervised tools (49 percent), lack of timely access to data (44 percent), children, and data integrity (44 percent), percent) and lack of data literacy (43 percent). These challenges are compounded by increasing complexity and the organizational need to deliver data analytics faster and at scale, while the average APAC company currently has internal requests to add 26 new data sources and 30 new data types per month.

“In today’s volatile, uncertain, and challenging business environment, companies have expressed the need to invest in critical areas of business. As customer needs evolve, companies must innovate their business models to meet new needs,” said Julian Quinn, APJ senior vice president at Alteryx. The results show consensus on the critical role analytics plays in improving business performance. “

The Alteryx Analytic Process Automation (APA)™ platform provides complete automation of analytical processes, machine learning, and data science. As a result, organizations can automate data analytics and science, make smart decisions, empower their employees to deliver better and faster business results, and ultimately enable the agility needed to accelerate digital transformation.

‘Data should no longer be dormant in an organization. “Using analytics automation allows an organization to use its best resources – people, processes, and data – to empower its workforce to improve overall organizational performance and efficiency, making decision making faster and more reliable.”, he stated.