Bassett Furniture Builds a Data-Driven Culture with Domo

Rhea-AI Summary

Bassett Furniture Industries has integrated Domo's AI and data platform across its operations, from headquarters to retail stores. This initiative, which began in 2020, allows Bassett to use real-time data for decisions such as engaging retailers, selecting regional merchandise, and optimizing inventory. Bassett, a leading U.S. furniture manufacturer since 1902, revamped its legacy systems with Domo to foster a data-driven culture. Employees now use Domo daily for filtering data, generating reports, and monitoring trends. The Domo mobile app provides instant updates to teams nationwide, enhancing their ability to manage inventory and provide better customer experiences. This data-driven approach also aids in sales forecasting and inventory management, improving operational efficiency.

Positive

• Bassett Furniture integrated Domo's platform to modernize operations, enhancing data-driven decision-making.
• Real-time data usage has improved inventory management and retail space optimization.
• Domo's mobile app ensures instant updates for nationwide teams, improving operational efficiency.
• Sales forecasting and inventory rightsizing lead to better purchasing decisions and warehouse management.

Negative

• None.

Storied home furnishings company taps Domo’s AI and data platform to uncover new trends and insights, modernize its operations and meet the changing needs of today’s customers

SILICON SLOPES, Utah--(BUSINESS WIRE)-- Today, Domo (Nasdaq: DOMO) announced that Bassett Furniture Industries, Inc. (Nasdaq: BSET) integrates Domo throughout its operations – from corporate headquarters to retail stores and its distribution team – to power data-driven decisions. Bassett Furniture started working with Domo in 2020 and now uses real-time data to engage retailers, select the right merchandise for a specific region, reduce unnecessary inventory and maximize retail space.

Since 1902, Bassett Furniture has been a leading manufacturer of high-quality home furnishings and was one of the first large-scale furniture manufacturers in the United States. The company turned to Domo to help modernize its data operations, overhauling over a century’s worth of legacy systems and powering a fresh data-driven culture. Now, employees across the organization use Domo every day, instantly filtering real-time data, creating dynamic reports and monitoring trends. With Domo’s mobile app, teams across the country are updated instantly, reviewing relevant insights for each location, employee and furniture item.

“We wanted something that would enable us to walk into any store and have complete insight into the performance of any employee, furniture item or time period,” said Brian Claspell, CIO at Bassett Furniture. “Domo’s an incredible tool because it provides data in a succinct way that allows us to look across product lines and customer bases. This helps us understand our customers better so we can provide a better experience.”

Domo enables Bassett Furniture to make data-driven purchasing decisions through monitoring sales trends and identifying what customers are likely to buy six months from now. Improved forecasting helps the company better manage long lead times and warehouse space by rightsizing inventory and making more relevant buying choices.

In addition to its owned retail locations, Bassett Furniture’s products are available at more than 130 independent retailers nationwide. The company’s leadership and sales teams use Domo to maximize space in those locations by engaging with retailers and identifying the right merchandise for each region.

“People need accurate data to make better business decisions, and Bassett Furniture is a great example of giving employees the tools they need to help them do it the right way,” said Mark Maughan, chief analytics officer and SVP of customer success at Domo. “We believe in the power of data and Domo, and know, when combined, companies and employees alike can harness the daily impact of meaningful data. At Bassett, that translates to complete insight into each store’s historical and current sales performance, down to the SKU level.”

To learn more about how Bassett Furniture and other leading organizations are using Domo to put data to work for everyone, visit www.domo.com/customers.

About Bassett Furniture Industries, Inc.

Bassett Furniture Industries, Inc. (NASDAQ:BSET) is a leading manufacturer and marketer of high-quality home furnishings. With 88 company- and licensee-owned stores at the time of this release, Bassett has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers with a friendly environment for buying furniture and accessories. Bassett’s retail strategy includes stylish, custom-built furniture that features the latest on-trend furniture styles, free in-home design visits, and coordinated decorating accessories. Bassett also has a traditional wholesale business with more than 700 accounts on the open market, across the United States and internationally. For more information, visit the Company’s website at bassettfurniture.com.

About Domo

Domo puts data to work for everyone so they can multiply their impact on the business. Our cloud-native data experience platform goes beyond traditional business intelligence and analytics, making data visible and actionable with user-friendly dashboards and apps. Underpinned by AI, data science and a secure data foundation that connects with existing cloud and legacy systems, Domo helps companies optimize critical business processes at scale and in record time to spark the bold curiosity that powers exponential business results.

For more information, visit www.domo.com. You can also follow Domo on LinkedIn, X and Facebook.

Domo is a registered trademark of Domo, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240710565590/en/

Cynthia Cowen

PR@domo.com

Source: Domo

FAQ

How is Bassett Furniture using Domo's platform?

Bassett Furniture uses Domo's AI and data platform to make data-driven decisions, manage inventory, and optimize retail space.

What benefits has Bassett Furniture gained from integrating Domo?

Benefits include improved inventory management, better sales forecasting, enhanced retail space optimization, and real-time data insights.

When did Bassett Furniture start using Domo?

Bassett Furniture began working with Domo in 2020.

How does Domo's platform help Bassett Furniture's operations?

Domo's platform provides real-time data, enabling better decision-making, efficient inventory management, and enhanced customer experiences.

What impact has Domo's mobile app had on Bassett Furniture?

Domo's mobile app provides instant updates to teams across the country, improving operational efficiency and decision-making.