Excel Power Query and Alteryx are both powerful data manipulation and analysis tools that can automate data transformation of large datasets.  While both products can streamline complex manual tasks, there are some key differences that should be considered before implementing one or the other. Below is a very high-level comparison of the two products.

Excel Power Query is a free Microsoft add-in that allows the user to connect to various data sources, transform and cleanse data, and create impressive visualizations and analytical reports. Because it is an extension of MS Excel, it looks and feels like the rest of Excel which makes it more user-friendly and relatively easier to learn compared to Alteryx. 

On the other hand, Alteryx is a more advanced data preparation and analytics platform that offers a wide range of features and capabilities in exchange for thousands of dollars of annual subscription fees. Like Excel Power Query, Alteryx allows the user to connect to various data sources, perform advanced data transformation, and join or blend data from multiple data sources. Alteryx also has a large library of pre-built data connectors and workflows, making it a great tool for data professionals who need to handle very large and very complex datasets.

Alteryx and Excel Power Query offer data transformation features that allow the dragging and dropping of icons on the solution’s work environment to produce the desired output.  Both products promote “LC/NC” (Low Code/No Code) concept which means little to no computer coding may be required.  However, to take advantage of some moderately advanced features of either tool the user must have some level of experience in computer coding. MS Excel Power Query uses “M” scripting language. Alteryx uses “R” scripting which has a lot of similarities to “M”.  In addition to familiarity with coding, the user must also be familiar with some basic data manipulation concepts like looping, indexing, and pattern matching etc…

Based on our experience with both products, we believe most finance and tax departments will find the Excel Power Query more than adequate to automate their repetitive and time-consuming manual tasks. However, if you are dealing with very large and very complex datasets, Alteryx may be a better choice.