Alteryx Announces the Connect Platform and Yhat Acquisition
Self-service data analytics company Alteryx recently launched a data exploration platform, Alteryx Connect, and announced it is acquiring data science software company Yhat.
With the Connect platform, an outgrowth of Alteryx’s acquisition of meta data management and governance company Semanta, users can discover and collaborate on data assets, visualizations, reports, and workflows that tend to be siloed across organizations. Additionally, users can draw information from both Alteryx-connected data as well as other data sources.
According to Bob Laurent, vice president of product marketing at Alteryx, the company's alliance with Semanta and development of Connect sprang from the ambition to help chief data officers "protect the information assests in his or her organization."
"Data cataloging has become a critical component in achieving that goal, and when we developed our vision for what organizations need, we discovered Semanta—a company with experienced leadership and talented developers who saw the problem and the solution the exact same way we saw it," Laurent says. "Our shared vision involves making the discovery of information assets a thrilling and similar experience to what we use in our personal lives, with the ability to search for information like you can with Google, document details about information like Wikipedia, and establish social communities of people where information can be rated and recommended. Our acquisition of Semanta allows us to accelerate the development of Alteryx Connect and help analysts and data scientists discover and share all the relevant data, reports, dashboards, and Alteryx analytic workflows to make their journey productive and maximize business value.”
Alteryx is also looking to bolster its analytics offerings with the Yhat acquisition. Yhat provides data scientists and analysts with self-service data science tools for developing, managing, and deploying machine learning models to web and mobile applications. Alteryx aims to further its current analytics strategy with the acquisition by accelerating the processes of making and deploying models.
"There are approximately two million data scientists in the world, and these highly skilled employees are not as productive as they could be. According to the most recent Rexer Analytics Data Science Survey, only 13 percent of data scientists said their advanced analytic models are always deployed. And another 25 percent said models that do get deployed take months or years to deploy,” Laurent explains. "We acquired Yhat to give data scientists a robust and highly reliable platform for deploying, managing, and scaling advanced analytical routines. With Yhat technology as part of the Alteryx platform, all of the good models that get built can be updated, managed and monitored, while bad models can be identified and taken out of service.”
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