Domo Named a Leader in the 2024 Nucleus Research Value Matrix for BI and Analytics Technology

Rhea-AI Summary

Domo (Nasdaq: DOMO) has been named a leader in the 2024 Nucleus Research Value Matrix for Business Intelligence (BI) and Analytics Technology for the fourth consecutive year. The recognition highlights Domo's ability to combine business intelligence, interactive dashboards, and near real-time visualizations, enabling actionable insights.

The company's consumption-based pricing model provides flexibility for users, leveraging a cloud-native platform. The 2024 BI and analytics market is increasingly focused on generative AI, data democratization, and user-centric designs. Domo's leadership in AI, including machine learning, natural language processing, and predictive analytics, was also noted. The Value Matrix assesses usability and functionality, with Domo excelling in both areas.

Ben Schein, SVP of Product at Domo, emphasized the company's commitment to innovation and customer empowerment through data-driven decision-making. Alexander Wurm of Nucleus Research praised Domo's integration capabilities and comprehensive solutions that balance IT security and business agility.

Positive

• Domo named a leader in Nucleus Research's 2024 Value Matrix for the fourth consecutive year.
• Recognized for its combination of business intelligence, interactive dashboards, and near real-time visualizations.
• Consumption-based pricing model offers flexibility and broad platform utilization.
• Leadership in AI with machine learning, natural language processing, and predictive analytics.
• Comprehensive solution bridging the gap between IT security and business agility.
• Innovative approach with no and low-code data science, analytics automation, and data engineering.

Negative

• Potential market pressure as competitors also integrate advanced technologies and generative AI.
• Reliance on continuous innovation to maintain leadership position can be resource-intensive.

SILICON SLOPES, Utah--(BUSINESS WIRE)-- Today Domo (Nasdaq: DOMO) announced it has been named a leader in Nucleus Research’s 2024 Business Intelligence (BI) and Analytics Technology Value Matrix for the fourth consecutive year. Nucleus Research recognized Domo for its ability to combine business intelligence, interactive dashboards and near real-time visualizations to enable businesses to transform their data into actionable insights. The analyst firm highlighted Domo’s consumption-based pricing model, noting that it provides users with the flexibility to easily take advantage of the breadth of Domo’s cloud-native platform.

According to Nucleus Research, the BI and analytics market in 2024 is characterized by a convergence of advanced technologies, user-centric design principles, and a broader democratization of data utilization, fueled by the integration of generative AI and a renewed focus on empowering line of business users. As a result, vendors have moved beyond traditional BI and analytics capabilities, shifting focus further toward no and low-code data science, analytics automation, and data engineering.

The Nucleus Technology Value Matrix assesses the operational value a solution delivers, provides a relative positioning of the important vendors in a market and delivers a framework for evaluating the suitability of a solution. The 2024 BI and Analytics Technology Value Matrix measured vendor offerings on both usability and functionality.

Nucleus Research also touted Domo’s leadership and innovation in artificial intelligence (AI) through its ability to deliver machine learning, natural language processing, predictive analytics and generative AI capabilities in a unified service.

“We’re honored that for the fourth consecutive year, we’ve been named a leader by Nucleus in its 2024 Analytics Value Matrix. This underscores Domo’s continued focus on innovation and helping our customers leverage their data to make better decisions,” said Ben Schein, SVP of Product at Domo. “We’re proud of our ability to offer our customers powerful workflow engines, low-code and pro-code tools for developing custom applications, fully automated governance and AI-generated insights to help them see what’s going on in their business and make the best data-informed decisions.”

“Domo continues to be recognized as a leader in the Analytics Value Matrix because it delivers a comprehensive solution that bridges the gap between IT security needs and business agility,” said Alexander Wurm, senior analyst at Nucleus Research, Inc. “Unlike traditional systems that may create silos and friction due to their singular functionality, Domo integrates with existing tools while also providing comprehensive solutions across various functions.”

For a complimentary copy of the 2024 Nucleus Research Value Matrix for Analytics Technology, visit here.

About Nucleus Research

Nucleus Research is the recognized global leader in investigative ROI technology research. Using a case-based approach, we provide research streams and advisory services that allow vendors and end users to quantify and maximize the return from their technology investments. We deliver the numbers that drive better business decisions. For more information, visit NucleusResearch.com or follow our latest updates on LinkedIn.

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/20240606008032/en/

Cynthia Cowen

PR@domo.com

Source: Domo, Inc.

FAQ

Why was Domo named a leader in the 2024 Nucleus Research Value Matrix?

Domo was recognized for its ability to combine business intelligence, interactive dashboards, and near real-time visualizations, along with its consumption-based pricing model, flexibility, and advanced AI capabilities.

What is the significance of Domo's consumption-based pricing model?

Domo's consumption-based pricing model offers users flexible access to its cloud-native platform, making it easier to leverage a wide range of features and tools.

How does Domo's AI leadership benefit its users?

Domo's AI capabilities, including machine learning, natural language processing, and predictive analytics, provide users with advanced tools to generate actionable insights and improve decision-making.

What challenges might Domo face despite its leadership recognition?

Domo may face market pressure from competitors who are also adopting advanced technologies and generative AI, as well as the resource-intensive need to continuously innovate.

What does the 2024 BI and Analytics Technology Value Matrix measure?

The Value Matrix measures vendor offerings based on usability and functionality, positioning important vendors relative to each other in the BI and analytics market.