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

Rhea-AI Summary

Domo introduces Data Apps, a suite of low-code tools designed to democratize data access across organizations. Unlike traditional business intelligence, these apps cater to all employees, enhancing data-driven decision-making. Research indicates that over 80% of enterprise decision-makers currently underutilize BI tools. Domo aims to bridge this gap by allowing users to create personalized applications quickly. The launch includes four accelerators for retail and financial services to improve operational efficiency and customer insights. Additional platform updates enhance data integration and governance capabilities.

Positive

• Launch of Data Apps enhances accessibility of data-driven decision-making for all employees.
• Four solution accelerators target key business processes in retail and financial services.
• Robust data integration capabilities with over 1,000 native connectors improve operational efficiency.
• Updates to the Domo platform offer enhanced multi-cloud capabilities and better governance tools.

Negative

• None.

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

SILICON SLOPES, Utah--(BUSINESS WIRE)-- Today Domo (Nasdaq: DOMO) announced Data Apps, new low-code data tools for everyone across an organization, 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 personalized 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 organization 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 organizations. 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 organizations from using data more holistically.

“It is time for organizations to move beyond thinking of data as charts and graphs and towards adopting customized 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 organizations 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.”

“Organizations face challenges in finding an approach to Data Apps that enables digital transformation. They seek solutions that allow organizations to easily compile, aggregate and share data across trusted networks - both inside and outside organizations, while giving each team member personalized 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 organizations 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, stock room 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 organizations 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 minimize cost
• Banking Customer Profitability and Behavior Analytics – designed to give financial services organizations 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.

About Domo

Domo transforms business by putting data to work for everyone. Domo’s low-code data app platform goes beyond traditional business intelligence and analytics to enable anyone to create data apps to power any action in their business, right where work gets done. With Domo’s fully integrated cloud-native platform, critical business processes can now be optimized in days instead of months or more. For more information, visit www.domo.com. You can also follow Domo on Twitter, Facebook and LinkedIn.

Domo and Domopalooza are registered trademarks of Domo, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220323005332/en/

Julie Kehoe

PR@domo.com

Source: Domo

FAQ

What are Domo's Data Apps?

Domo's Data Apps are low-code tools designed to empower all employees with data-driven decision-making capabilities, unlike traditional BI tools that cater primarily to executives and analysts.

When did Domo launch the Data Apps?

Domo announced the launch of Data Apps on February 23, 2022.

What sectors are targeted by Domo's new solution accelerators?

Domo's solution accelerators are specifically designed for the retail and financial services sectors.

What is the main benefit of Domo's Data Apps?

The main benefit is to enable faster and more efficient data-driven decision-making across all organizational roles by leveraging low-code technology.

How many native connectors does Domo provide?

Domo provides over 1,000 native connectors for data integration from various systems.