Misuse of spreadsheets costs European businesses €55 billion a year

Spreadsheets like Excel were never designed to handle complex analytics and big data tasks, but a growing demand for data insights is leading many businesses to waste effort manually handling data in spreadsheets. A study commissioned by self-service analytics company Alteryx and carried out by IDC reveals that advanced spreadsheet users spend on average nine hours a week on repeat effort manually manipulating data, wasting €10,000 per year. Across Europe this represents, on average, two billion hours of duplicate work, costing an eye-watering €55bn per year (around $64bn). According to the findings there are 30 million advanced spreadsheet users worldwide,… [Continue Reading]