For those of you who are new to the data analytics world, Alteryx is one of the most renowned companies in this line of work. They strive to empower end users with a self service data analytics which provides the users with immense insight about the tremendous potential data has. Most companies have exhausted the capabilities of point solutions and have to dedicate an entire team to prepare that data and provide insight about the data trends. Even then after investing substantial time and money, they still do not have the required tools to harness the true power of data analytics.
However Alteryx has targeted this niche and has provided each company with a platform that allows users to streamline data from multiple sources including warehouse spread sheets, cloud data, and a whole array of versatile sources. This platform allows users to seamlessly integrate their data together and then perform effective analytics and provides precise data analytics like never before! If you are wondering who writes the code during the analytics process, then this may come to you as a shock that this intuitive platform does not require code writing.
Many power house companies have achieved their success by using the power of data analytics for a competitive edge, at the same time many companies that lacked the recourses could not instill data analytics in their business persona. But Alteryx has changed this predicament by providing every company with a user friendly platform for data analytics, if that’s not enough this platform is provided at an extremely cost effective price. Now with the help of Alteryx many different companies have the tools to effectively analyze data and then articulate strategies to implement this information successfully.
What is an IPO and how will it help Alteryx?
An IPO or initial public offering is when a company offers its private stocks to the public at large; this basically means the business module transitions from a private company to a public one. Alteryx has become the third company this year to make this transition and initially listed its stock at $14 per share. Within a week’s time their stock prices have increased at steady rate as they are currently valued at $15.50 which is an approximate 11% rise!
Alteryx has managed to accumulate a massive capital of $163 million in capital, but for the past few years have still not managed to break even with their consistent losses. According to reports Alteryx generated approximately $85.7 million revenue but also incurred a staggering loss of $24.3 million. But now by selling their stocks to the public at large there is no doubt that Alteryx will be able to break from their shackles and assert their dominance in the market.
The underlining reason behind the rapid increase in stock value in such a short time span is due to the fact that many different companies and investors can now visualize the lucrative opportunity that data analytics provides. Going public will help Alteryx generate more capital, this will provide them with increased recourses that they can use to bolster their versatile data analytics platform.