Data Preparation and Analysis Using Spreadsheet is Causing Significant Productivity Losses

Data Preparation and Analysis using Spreadsheets is Causing Significant Productivity Losses х 23: Spreadsheet use is standard across almost any industry. From finance to manufacturing, executives to analysts, these tools are used for a variety of purposes. Finding insights from all the information co ming in from data is vital, but with different collection points and manual input practices, it takes time and can cause serious data governance concerns. A recent study by industry analyst firm IDC, commissioned by Alteryx, shows the true cost of inefficient analytics processes using spreadsheets. The Advanced Spreadsheet User As data volume grows and comes from more and more sources, we've seen the emergence of advanced spreadsheet users who spend significant time in spreadsheets working with multiple data sets. Advanced spreadsheet users: 8% 21M 5M of all enterprise employees worldwide in the U.S. Most frequent methods of data acquisition into spreadsheets: There are a number of ways people can input, merge, and find insights from multiple spreadsheets. Shockingly, manually copying data from various systems and pasting it into spreadsheets is the most popular method, which causes major productivity and data goverance problems. 81% 52% 43% 40% Copy + paste Importing delimited Spreadsheet links Spreadsheet data data functions Time Spent Working in Spreadsheets: Advanced spreadsheet users spent the majority of their time every week using spreadsheets. With 5 million advanced spreadsheet 26 users in the U.S., that equals about hours 6 billion hours per year. Financial Impact of Wasted Time with Spreadsheets The time spent by advanced spreadsheet users every week on repeatable work and manual processes is causing major productivity losses. 8 hours averages $12,000 per year for every advanced spreadsheet user Considering the 5 million advanced spreadsheet users in the U.S., the annual cost of lost productivity is significant: 1.3B $60B %24 hours of duplicate work in wasted productivity Find Meaningful Insights in Less Time As a result of these inefficiencies, a new breed of self-service data preparation software has emerged. This puts the power of data integration and integrity into the hands of the business rather than technical experts, enabling automation and operationalization to save time and money. For additional data, insights, and more, download, "The State of Self-Service Data Preparation and Analysis Using Spreadsheets" alteryx IDC Source: The State of Self-Service Data Preparation and Analys is Using Spre adsheets, Analyze the Future commissioned by Alteryx, October 2016. %24