2331769 - Connection to the host failed error message while creating new SAP BPC Import Data Connection in SAP Analytics Cloud (BOC)

The following error message appears when trying to create a new Import Data Connection to SAP BPC:
Connection to host failed: A connection with the server could not be established. Please check the server name and port..

 SAP Analytics Cloud (formerly known as SAP BusinessObjects Cloud / BOC) 1.0.50

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