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    DOMO   US2575541055

DOMO, INC.

(DOMO)
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Domo : 4 Common Traits of Enterprises That Have Moved Beyond BI

07/01/2021 | 01:03pm EDT

In today's ultra-competitive business landscape, enterprises need to operate with a new level of intelligence in order to succeed.

A modern-day 'intelligent' enterprise is one that can tap into both internal and external data, synthesize it, and then deliver those insights to everyone across the organization so they can take informed action.

But not all enterprises are able to check all those boxes. And a lot of it has to do with the fact they don't know where to start.

A good place to begin is by looking at organizations that have moved beyond BI to action-based analytics. That's because there are key commonalities.

For instance, they have all given people up and down the business the ability to find answers to their own questions. Such organizations typically have centralized key metrics that everyone can access through a tool or platform that offers a well-designed user interface and is easy to work with.

Enterprises that possess the strongest foundations for self-service BI typically do two things, according to business leaders we talk to: figure out what they most want to achieve (i.e., establish clear-cut goals); and include the end user in every stage of the transformational process.

The second commonality is an ability to adapt to change. A lot of times, that means being willing to be reactive instead of proactive, as well as being OK with mistakes. Without that mentality, experts say, it can be difficult to move forward at the speed that's necessary.

A third commonality among enterprises that are moving the analytics needle in their favor is their commitment to upskilling people and building adoption.

This can be achieved by recognizing and understanding problems people could run into when looking at data, and setting up monthly or quarterly training sessions that address those potential issues.

Other popular moves 'intelligent' enterprises make related to upskilling and adoption are: identifying 'data champions' or 'data evangelists' within the organization; holding regular 'lunch-and-learns'; offering incentives; and communicating updates or enhancements to the tools people leverage to find answers for themselves.

Of course, technology plays a role, too. Which is why the fourth commonality simply revolves around encouraging people to explore the solutions available to them.

Platforms such as Domo have features that are plain fun to mess around with, including KPI-based alerts and the mobile app itself. And because the product possesses an abundance of data governance controls-such as unlimited personalized data permissions (PDP)-IT leaders can ensure that users only see the data that is relevant to them.

To learn more about how your enterprise can develop a bias for action by moving beyond BI to action-based analytics, click here.

Disclaimer

Domo Inc. published this content on 01 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 July 2021 17:02:36 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2022 255 M - -
Net income 2022 -86,6 M - -
Net Debt 2022 14,3 M - -
P/E ratio 2022 -29,2x
Yield 2022 -
Capitalization 2 663 M 2 663 M -
EV / Sales 2022 10,5x
EV / Sales 2023 8,80x
Nbr of Employees 756
Free-Float 85,8%
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Technical analysis trends DOMO, INC.
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Mean consensus BUY
Number of Analysts 5
Last Close Price 82,82 $
Average target price 106,25 $
Spread / Average Target 28,3%
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Managers and Directors
Joshua G. James Chairman & Chief Executive Officer
Bruce C. Felt Chief Financial Officer
Daren Thayne Chief Technology Officer
Catherine Wong Chief Product Officer & Executive VP-Engineering
Suyesh Karki Chief Information Security Officer
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