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Dubai, United Arab Emirates. — 1 November 2022 — Analytics automation company Alteryx, Inc. (NYSE: AYX) has identified core factors preventing organizations from delivering on-demand business intelligence through data analytics. New Alteryx-Commissioned IDC Study* Highlights – While businesses need faster, more accurate insights to navigate a competitive marketplace, businesses are still trying to achieve their future AI analytics goals through traditional strategies.
The study demonstrates the negative impact on ROI of backward upskilling, democratization and accessibility initiatives. When these foundational data pillars are not prioritized, the result is a disconnect between the experts within the department and the analytics-driven insights — in this case, analytics is limited to those who can code, not the best fit the person who answers the question.
Today, two-thirds of UAE organisations say they don’t always trust – and (84%) say they don’t even use – their own analytical insights to make decisions. Widening the analytics maturity gap, 60% also reported that their analytics delivered the lowest financial ROI (0% to 5%).
Building the Future of AI – The AI Entertainment Gap:
71% of respondents highlighted the urgent need for high ROI business intelligence, stating that “the business environment is changing faster than ever.” To address this changing landscape and deliver valuable insights at scale, 79% now intend to prioritize their analytics investments over all “other technologies” in the near future.
By 2027, businesses urgently need to deliver AI-generated insights, but also face a stark gap between the AI automation roadmap and the foundational pillars needed to deliver:
- AI adoption today: The vast majority of UAE businesses (70%) say less than a third Today, most of their decisions are automated using AI/ML techniques.
- Tomorrow’s AI integration: By 2027, 47% expect at least one-third of core business decisions to be driven by AI and automation.
Remove legacy barriers and prioritize ROI
While AI-based decision-making is undoubtedly the next step in transformation, this research highlights a hamster-wheeled innovation roadmap—one defined by momentum but lacking progress. An IDC information brief commissioned by Alteryx – 4 Ways to Unlock Transformative Business Results from Your Analytics Investment – highlights the cognitive dissonance that separates those who provide high ROI analytics from those who do not.
The research lays the foundation behind a successful analytics initiative—showing clear priorities for organizations looking to deliver AI-generated insights by 2027:
- democratization: Three-quarters of UAE businesses still rely on manual coding – hindering the vital expertise of sector experts.
- Skill upgrade: 82% do not closely match technology investments with the upskilling of people needed to deliver more impactful and timely insights.
- accessibility: Globally, 82% of businesses say their data access policies are moderately effective at best – reinforcing the problem of over-reliance on data science teams and inability of users to access data/insights.
Alan Jacobson, Chief Data and Analytics Officer at Alteryx, commented: “Using AI-driven insights to address the future of business requires more thought than simply investing in new technologies. The need for more insights from businesses – faster than ever – needs to be top-to-bottom Drive transformation across the business. Those closest to the problem must be able to use the tools to provide these insights and empowered to solve the problem themselves.
“The business opportunity from analytics — and the expanded AI/ML insights — is enormous. Being able to make accurate decisions to respond quickly to disruptions has been a goal that businesses have pursued for centuries. Faced with so many unused Data and underutilized talent, combining upskilling, accessibility, and democratization are the only ways these businesses can generate the ROI they need to transform their business through AI-based automated decision-making.”
Karl Crowther, Vice President of Alteryx MEA, confirmed: “It’s surprising how many businesses are still actively using outdated spreadsheets or relying solely on a handful of experts with advanced coding knowledge to provide insights.
“IDC’s research validates many best-practice strategies for ROI from analytics. Breaking down silos, developing a data culture that combines technology spending with upskilling, and ensuring that IT is aligned with line-of-business priorities are core to The pillars will help provide the comprehensive business insights needed to future-proof operations.”
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About Alteryx
Alteryx (NYSE: AYX) empowers everyone with analytics by delivering our leading analytics automation platform. Alteryx provides simple end-to-end automation for data engineering, analytics, reporting, machine learning, and data science processes, enabling businesses around the world to democratize data analytics across their organizations for a wide range of use cases. Over 8,000 customers worldwide rely on Alteryx to deliver impactful business results.To learn more, 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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