Microsoft has introduced an alternative for Excel surveys. This is built with Microsoft Forms where the data can be exported to an Excel file with a better view of analytics. This is available with One Drive, Sharepoint Online Modern Sites, and Excel Online.

If we open any of the above and click New (Document library in SharePoint Online Sites), we see the option to create "Form for Excel". The next step is to provide a name for the file. The moment you do this, you get redirected to Microsoft Forms.

The entire process is described along with relevant examples here.

Hope this will help you out.