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New Domo Study Shows the Data Decision Gap is Holding Business Back

Spending on data capabilities has skyrocketed but mismatched technology is the primary driver of low data adoption rates, according to study results

A new study conducted among CIOs, chief data officers and vice presidents in data-oriented positions released today by Domo pointed to a significant data decision gap impacting companies’ business intelligence efforts. Organisations around the world are investing in data at a higher rate than ever, but 55% of respondents noted that the process for making decisions had not changed at all in their organisations, with decisions largely made “from the gut” rather than from data.

Respondents said that the top cultural or attitudinal challenge for using data effectively is that too few people across most organisations understand how to access useful data or use it to drive meaningful decisions. This indicates that failing to use data may begin in the C-suite, but it cascades down across every level of the business.

Domo’s study points out that the two most common explanations for this gap were BI tools being disconnected from business processes and a lack of training. Even as organisations have embraced the power of data, most respondents saw them continuing to struggle with implementation because of their data tools. Nearly one-in-three (33%) also worried that the data decision gap would create significant data bottlenecks in the future. Organisations that adopt the right tools for democratising their data are realising the benefits of data-driven decision making.

“We are constantly finding new ways to unlock information, but companies that want to be truly data-driven have to do more than just capture and store it,” said Mohammed Aaser, chief data officer at Domo. “It’s great to have all this data, but if you can’t enable your employees to use the data easily to drive improved decisions, then it doesn’t matter how much you invest in the effort.”

Shortcomings in technology that supports data within an organisation likely points to both the culprit and the cure for this problem: respondents to Domo’s study indicated that the majority (70%) of needs and interests in their personal lives were supported by well-built apps, but over half of their business needs (52%) did not have any kind of app support. Simplifying access to data through apps and integrations can help organisations capitalise quickly on the investments they have made in digital transformation over recent years.

Learn more about how your company can embrace a data-driven culture with insights from Domo’s Closing the Data Decision Gap study by visiting here. To discover how Domo is delivering modern data experiences for companies of all sizes, visit www.domo.com.

Domo Releases Key Platform Enhancements that Help Put Data to Work for Everyone

New features further advance the Domo platform’s differentiated speed, scale and user experience to power data apps

Domo announced several key enhancements to its cloud-based platform that make it easier than ever to put data to work for everyone, with the speed, scale and user experience (UX) needed to tackle any business challenge through data apps. Included in these platform enhancements are new functionality in Domo Multi-cloud, a new Governance Toolkit and updates to Universal Data Modelling, making it easier to understand, engage and leverage data across any organisation.

The proliferation of data continues to grow exponentially, as organisations generate an incredible amount of indeterminate data, making it overwhelmingly hard to develop data systems and processes that help organisations understand and leverage this data. According to Domo’s recent “Closing the Data Decision Gap” report, over 92% of respondents believe the amount of data produced by their organisations will grow over time. And over 90% of respondents believe the number of data relationships – or number of ways data can be paired with other data – within the data used by their companies would grow over time.

Today’s new features highlight how the Domo platform gives organisations and its leaders tools to make massive volumes of data accessible and analyzable, and the ability to transform that data with an architecture that scales to trillions of records and thousands of users.  These include:

Updates to Domo Multi-cloud: Announced at Domopalooza 2021, Domo Multi-cloud enables native, seamless integration with other cloud data warehouses for more flexibility with storage, caching, querying, data transformations and analytics. New functionality introduced today include side-by-side clouds and cross-cloud ETL, where apps can use data from another cloud warehouse alongside data from their Domo warehouse, in a single, seamless and interactive experience, without moving or copying the data, and without a tradeoff in performance. Additionally, users can default to their preferred storage cloud, having the choice to move data seamlessly, dive into dataset details, and pick a target cloud when transitioning between clouds.

An Enterprise Tool Kit: This new packaged collection of features helps users maintain and manage control of their data and analytics efforts while operating at enterprise scale. This feature set – a new Governance Toolkit, Sandbox, and Brand Kit – offers enhanced management, automation and simplification of analytics at scale.

  • With the new Governance Toolkit, users can scale and automate management tasks across tens of thousands of data assets, all within a user-friendly UI.

  • Users can then implement processes akin to the software development lifecycle with Sandbox, developing content or data pipelines in a demo environment before promoting to production, helping maintain a consistent experience for end users and maintaining strong governance.

  • Finally, Brand Kit enables users to maintain a consistent look and feel across their entire data ecosystem, both internally and externally.

New Universal Data Modelling: Domo’s Universal Data Modelling enables users to explore the relationships between datasets that are part of a business process, and to create Data Models that can be organised, mapped and explored in Analyzer. Data modelling provides additional flexibility and scalability for exploring datasets and building data apps, and provides users with a single, unified catalogue that accurately reflects their organisation and reduces redundancy in data preparation, unlocking more time for strategic efforts.

“Domo was built for this increasingly data rich world. Today’s product announcements underscore our commitment to building and enhancing the Domo platform with features and functionality that make Domo more powerful yet easy-to-use for all users,” said Catherine Wong, chief operating officer and EVP of Engineering at Domo. “These features focus on enhancing the speed and scale of Domo, and unlocking data experiences and insights that puts data to work for everyone and drive digital transformation deeper into organisations.”

Domo’s platform enhancements further support the evolution of modern data experiences to include Data Apps. Data Apps combine data, analytics and workflows into engaging experiences that are integrated, easy to use and designed to power business outcomes for those who have been traditionally underserved by BI and analytics as well as traditional enterprise software.

“Leading companies demand flexibility and innovation-driving agility when it comes to leveraging their data and existing cloud investments,” said Doug Henschen, VP and principal analyst at Constellation Research. “With the multi-cloud, governance and data modelling capabilities announced this week, Domo is clearly addressing the need for customer choice, control and solid governance as organisations seek to do more with their data.”

To learn more about these platform enhancements, visit here.

Domo Launches Data Apps to Fill the Gaps of Traditional BI and Analytics

Built on the Domo platform, Data Apps put data to work for everyone, right where the work gets done

Domo  announced Data Apps, new low-code data tools for everyone across an organisation, designed to bring the benefit of data-driven decisions and actions to those who are underserved by traditional business intelligence (BI) and analytics.

A Data App, which combines data, analytics and workflows, is experienced as a personalised standalone experience on a mobile device or embedded into existing apps and processes where work is already happening. Unlike traditional BI which is designed for executives, managers and data analysts and requires a level of data literacy to interpret and apply insights, Data Apps are designed for any role in an organisation and are built so any person can be guided by data to the optimal decisions and actions for achieving specific business outcomes.

For example, an employee on the manufacturing floor can leverage a Data App on a work tablet to ensure the company’s quality and safety goals are met throughout their role in the production process. Or a shift manager in a coffee shop can get real-time insights on their phone into customer satisfaction scores and make necessary adjustments on-the-fly to improve the customer experience.

The continued push for digital transformation across all areas of business is highlighting the urgent need for new data tools. Despite all the modernization efforts around business intelligence, data is still not being effectively leveraged in most organisations. In fact, no more than 20% of enterprise decision-makers who could be using business intelligence (BI) applications hands on are doing so. The other 80% still rely on the data and analytics skills of those 20% who do use BI applications, according to The Future of BI, Forrester Research Inc., February 23, 2022. And recent research sponsored by Domo showed the lack of proper tools is one of the key barriers that keeps organisations from using data more holistically.

“It is time for organisations to move beyond thinking of data as charts and graphs and towards adopting customised intelligent apps that not only deliver insights but drive action and support the needs of workers right where the work gets done,” said John Mellor, Domo CEO. “Our focus with Data Apps is supporting the white spaces in organisations where traditional BI and enterprise software applications like CRM and ERP have traditionally not reached. We’re making it easy for customers to put data to work for everyone by leveraging Domo as a low-code data app platform to build apps and improve business processes and outcomes everywhere work gets done.”

“Organisations face challenges in finding an approach to Data Apps that enables digital transformation. They seek solutions that allow organisations to easily compile, aggregate and share data across trusted networks – both inside and outside organisations, while giving each team member personalised data and automation needed for the business to move forward with more agility,” said R “Ray” Wang, founder and principal analyst, Constellation Research, Inc.

Because of Domo’s robust data integration capabilities with more than 1,000+ native connectors built and managed by Domo, Data Apps can easily leverage data from existing systems – regardless of where data lives whether it be in a cloud data warehouse or data lake, or a core application like SAP, Salesforce or NetSuite. As a result, Data Apps are designed to deliver business value at record speed and scale and what used to take weeks and months, now takes hours or days.

“For decades, analytics tools have been focused on solving the wrong problem. There will always be a place for ad hoc analyses, but organisations can better meet their day-to-day analytic needs with more directed, purpose-built analytical applications that are embedded into operational processes for line-of-business personnel – whether they be store managers, stockroom team members or customer service representatives,” said David Menninger, senior vice president and research director, Ventana Research. “Using a platform like Domo’s to develop and distribute analytics apps helps eliminate time-consuming tasks such as data integration and management, allowing organisations to be more agile and responsive to existing business requirements and new market requirements as they arise.”

As part of today’s announcement, Domo launched four solution accelerators, highly configurable Data Apps designed to support common business processes that have not been solved with traditional BI or enterprise software. These accelerators leverage the full capabilities of the Domo platform for data integration, analytics and distribution and are specifically for customers in retail, CPG and financial services.

These first four solutions are as follows:

  • Retail Store Performance and Operations – designed as a mobile app for executives, ops leaders, field and store employees to create the best customer experiences and drive sales and margin performance in the stores

  • Retail-Vendor Brand Performance & Insight Sharing – designed for real-time collaboration around point-of-sale data, inventory and market data to help retailers and their vendor partners profitably grow their respective businesses

  • Supply Chain Collaboration and Operations – a cross-functional supply chain problem solving tool that allows manufacturing, retail and logistics people to collaborate to improve supply chain visibility and efficiency to minimise cost

  • Banking Customer Profitability and Behaviour Analytics – designed to give financial services organisations such as banks, credit unions and mortgage companies near real-time insight into customer preferences so they can drive more valuable, longer-term relationships with customers

Additional Announcements

Domo also announced today new updates to the Domo platform that allow customers to leverage data at speed and scale. These announcements include new multi-cloud enhancements, a new governance toolkit, new integrations with Microsoft Office Suite and Teams, and more.

To learn more, visit here.

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TechnologyReseller: 2021