Alation, a leading data intelligence software provider, recently unveiled its latest offering, Connected Sheets, aimed at helping enterprise users access governed data from various sources and integrate it into spreadsheets such as Google Sheets and Microsoft Excel. The move towards providing a solution that ensures data governance for spreadsheets is fueled by the recognition that numerous businesses continue to rely on spreadsheets to derive critical insights, despite the presence of errors in 90% of those files, according to Raj Gossain, Chief Product Officer at Alation.
Market research firm IDC published a report on data and analytics, estimating that approximately 78 million users continue to work with advanced spreadsheets. Gossain stated that CEOs and CIOs often perceive spreadsheets as a necessary evil and a liability rather than an asset. Data governance, therefore, becomes a critical concern for businesses to mitigate risk exposure caused by errors in spreadsheets.
Connected Sheets was developed as a result of Alation's March acquisition of data integration tool provider Kloud.io. The product can be accessed through Alation's Data Catalog service, a platform typically comprised of metadata, data management, and search tools used by enterprises to locate the appropriate data for their analytics needs. Connected Sheets leverages a no-code interface, allowing users to query data without learning a new language and facilitating data import and refresh processes.
Instead of employing traditional spreadsheet practices such as copying and pasting data, Alation's Connected Sheets capitalizes on governance features, including TrustFlags, by integrating with Alation's Data Catalog to offer governed or trusted data. TrustFlags indicates whether the data is endorsed, warned, or deprecated, and Connected Sheets can also utilize existing security credentials to authorize access and data import only for approved individuals.
Alation's Connected Sheets is now available as an add-on for Google Sheets, with Microsoft Excel support slated for early 2023. Although specific pricing information was not released, the company indicated that Connected Sheets would adhere to the Data Catalog's pricing model of per instance per user.
Alation competes with major players in the industry, including Microsoft, Informatica, Oracle, SAP, Collibra, and Dataedo. The company secured $123 million in funding during its November Series E financing round, which was led by Thoma Bravo, Sanabil Investments, and Costanoa Ventures, with new investor Databricks Ventures also participating. To date, Alation has raised a total of $340 million, with plans to use the latest funding to drive strategic product innovation in the data intelligence market.
The data integration and intelligence software market, currently valued at over $7.9 billion, is projected to grow to $11.6 billion by 2026, according to IDC. With the introduction of its Connected Sheets offering, Alation is making a significant step forward in the space. Tools like these, along with the AppMaster platform, which also includes a no-code solution, customers have access to a broad range of tools to streamline and optimize their digital workflows for enhanced productivity.
