In recent conversations with the data science team at Pfizer working on COVID-19 vaccine data, it’s clear that this could be the most important work they’re doing in their careers. And for that purpose, they need access to the best tools, like the Alteryx Analytic Process Automation Platform™.
Using Alteryx, these top scientists are working on understanding how clinical trials are progressing, pinpointing the evolving virus hotspots while moving at mission-critical speed, and projecting how the supply chain can adjust to support rapid development of a vaccine and distribute life-saving resources to the world.
Looking even deeper at the economic, political, and global health-related developments of the recent weeks, it’s clear that rapid adjustment to a changing climate is paramount.
“As businesses step into the post-coronavirus future, they need to find a balance between what worked before and what needs to happen to succeed in the next normal.”
— >Thinking About the Next Normal to Making it Work: What to Stop, Start, and Accelerate, McKinsey & Co.
Thousands of global companies are searching for strategies to keep up with the ever-evolving demand, supply constraints, global trade policy updates, and organizational changes that constrain workforce capacity.
As a leader of the Alteryx Value Engineering team, I observe the amazing work being done around the world in dozens of industries (like healthcare) in the face of these changes, and see firsthand the critical role analytics play in driving transformational business outcomes. This happens through partnerships with our customers to understand the impact of Analytic Process Automation (APA) on their top and bottom-line growth.
What Does a Value Engineering Team Do?
The Value Engineering team identifies and quantifies return on investment. We partner with our customers to uncover the benefits that have been realized from the Alteryx APA Platform and to better understand the opportunities to impact business outcomes going forward.
Often, when industry experts look at quantifying the value of APA, the most obvious measurement is time savings. While our customers receive extraordinary time savings without fail, we look to a deeper level of analysis to see the true impact.
It starts with running a value study with the guidance of business leaders and facilitating discovery sessions with top performing business units and users. Then, we analyze the results and deliver a completed business case that helps our customers identify the return on investment of empowering their people with Alteryx.
We understand that a software provider who asserts incredible ROI is less convincing than an independent third party. That’s why we’re excited to announce the launch of the IDC Whitepaper: The Business Value of The Alteryx Analytic Process Automation Platform.
In a similar manner to our internal Value Engineering team, IDC interviewed our customers to understand the impact that Alteryx is enabling around the world. Their robust research methods highlight the many areas of opportunity available by tackling the end-to-end analytic journey with Alteryx.
Identifying ROI
Recently, I worked with a F500 CPG company that has been using Alteryx for over a year and wanted to collect value stories from around the company. In partnership with their chief data analytics officer, we conducted a value study and discovered COVID-19-related stockout risk that was mitigated in the supply chain, resulting in a $30M impact, as well as optimization of the dedicated truck fleet, resulting in $5-7M in annual savings.
Analytic work is now feasible at a scale that was never thought possible before. For example, the finance department of a global telecommunications manufacturer created the possibility of identifying risk to the organization that was previously exposed to “best guess data analysis” risk, resulting in a reduction of transfer pricing write-offs, the identification of tax credit and deduction opportunities that were previously missed, and a reduction of errors that caused hundreds of thousands of dollars in audit penalties.
Five Areas of ROI with Analytic Process
Automation
- Top-line growth
- Bottom line returns
- Efficiency gains
- Risk reduction
- Workforce upskilling
Read This Next.
Read the IDC whitepaper to discover the full impact Alteryx APA can have on your business, workforce, and revenue.