How Alteryx shaping the future of Finance Organizations
To overcome the challenges that the financial industry is facing in the current scenarios and to identify the root level cause factors, Alteryx brings the most effective ETL solutions that help automate complex data pipelines and generates actionable insights, saving time and cost for the enterprise. It also reduces teams’ efforts that spend long hours processing unstructured data.
What is Alteryx?
If you are business enterprise and need to understand the power of data and analytics, then Alteryx – an Analytics Automation Platform delivers comprehensive automation of analytics, ML, and data science processes that accelerate digital transformation. Alteryx generates quick and accurate insights that help drive success. Enterprises choose Alteryx, which offers an easy-to-use unified platform with advanced capabilities that provide scalability for data preparation and analytics automation.
What Is ETL & How Does It Work?
Extracting, transforming, and loading ETL is a data integration process used to copy, integrate, and transform data from various data sources and formats and load it into a new destination, such as a data warehouse or data lake. ETL’s capacity to extract and combine data from different source systems includes customer, demographic, and geospatial. The process eliminates the IT Team’s burden as Alteryx provides self-service analytics.
How is Alteryx used in finance?
Alteryx provides the structure you need to get that figurative oil out of the ground expertly, allocating it across the enterprise and initializing the work. Alteryx drives and streamlines:
- Data Preparation
- Data Cleansing
- Data Requirements
- Data Structuring
- Connectivity of Data and systems
- Applied Logic
Further, all those skilled and motivated people in your finance and accounting departments will value your commitment to BI through Alteryx.
The problem with conventional data tools?
If your enterprise still uses the conventional data tool to transform and analyse your data! Then it’s time to understand the challenges and limitations that stop you from leveraging the power of data. The existing data analytics could be an excellent tool for collecting and transforming small amounts of data. However, the limitations become more complex with the increasing data size and its ability to process and analyse the same. We will list out a few challenges, including:
- Impacts on Productivity
- Limitation of Reusability
- Challenge with Scalability
- Lack of Automation
Alteryx for financial analysis
Reduces the manual data processing that saves hours of extra time for the teams, enabling them to focus on other key business strategies.
- Increase in the Financial Demand Planning and Forecasting accuracy.
- Alteryx automates the Management Reporting activity.
- Examining the analyses that impact an organization’s financial health.
What are the benefits of using Alteryx?
- The organization can save significant time in productivity reporting and preparing massive data.
- Alteryx enables the creation of quick reports for non-IT professionals and literate users.
- The company can implement a fully mainstreamed process for its highly complex financial data model in an agile and no-code manner.
- Manual efforts will be significantly reduced with Alteryx’s seamless data pipeline automation.
How Alteryx solve your business data challenges
For beginners, tools like automatic process automation (APA) and robotic process automation (RPA) – along with other technologies like visualization solutions, ETL (extract, transform, and load) tools, and different ML applications – can be fluid and efficient with Alteryx. Simply put, the Alteryx workflow connects these various technologies and makes sense of your data – from fundamental, repetitive tasks to complex ones – without the manual upkeep of countless conventional tool-processed data files and needlessly burning FTEs.
Data Centralization and Migration
Alteryx enables you to effectively unify and migrate data between various organization departments, strategic partners, and other business information users. And it achieves such high-rise tasks through dimensional modelling, mapping the throughput of the data flow, and directing the undiversified data. With Alteryx, information from various data sources can flow into your general ledger (GL) or chart of accounts with no manual accounting functions.
Impactful Financial Reporting
For an effective reporting process, enterprises must deal with colossal amounts of data in real-time. Inappropriate tools and productive solutions are required to unify and present the precise, on-time, refined data needed to quick decision-makers. Alteryx, help you connect with multi-sources and pull data to your preferred data visualization platforms like Tableau, Power BI, and others. Alteryx enables the CFO of an organization to get structured data insights at their fingertips and acts as a self-service analytics platform.
How GTL helps you find the best Data Analytics Solution for your Financial Enterprise?
GTL is the leader in the Analytics Automation Platform implementation. We help you, and your organization get the most out of data analytics. Our experts understand your business issues and provide solutions that can help you make informed decisions quickly.
Our Alteryx experts, offer round-the-clock support to help you with any challenges that arise while accessing, managing, and analysing your data. Our comprehensive services include the following:
- Integration of analytics automation platform with existing systems.
- Advanced analytics techniques such as predictive modelling and machine learning.
- Data democratization across multiple departments of an organization.
- Simplified visualization for better insights into your data.
- Advanced workflows for faster results.
GTL offers Alteryx experts who can quickly develop, deploy, and maintain robust analytics solutions. We have worked on a wide range of Alteryx projects for global enterprises and have successfully helped them leverage the power of data in making informed decisions. Our team provides our clients with efficient, cost-effective, secure solutions that meet their common business objectives.
If you would like to know more about GTL and its Data Analytics capabilities that can help your company, get started with implementing an Analytics Automation Platform, please do not hesitate to reach us.
Get Started with Alteryx Analytics Automation Today!