A study recently conducted on the Total
Economic Impact (TEI) of Domo by independent research firm Forrester Consulting
was released earlier this month, and it
spoke volumes about the value of the leading cloud-based operating system for
The study, which examined four Domo customers
that have been using the Domo platform for three years, revealed that each
customer achieved an ROI north of 400% over that time frame. What’s more, each
customer recouped their investment in less than one year.
Prior to turning to Domo, the organizations
analyzed were using at least one BI tool—but struggling to obtain the insights
necessary to drive change.
Once the companies deployed Domo, they were
finally able to make inroads on their digital transformation efforts.
From a quantifiable perspective, they
experienced a $5.3 million increase in net profit, stemming largely from the
newfound ability to put analysts on more valuable projects.
And from a qualitative standpoint, they
reported two things primarily: an uptick in executive confidence in decision
making (because of better visibility into the business), and a change in the
company culture (because of self-service access to timely insights).
Interviewees told Forrester that Domo’s out-of-the-box intuitiveness for decision-makers greatly impacted their ability to generate their own reports, allowing them to make better decisions, faster.
“Forrester’s analysis highlights how the power and scale of Domo saves companies time and money while making it easier to adopt a more data-driven culture,” said Josh James, Domo’s founder and CEO. “With Domo, you don’t need to have technical knowledge of BI tooling, and you don’t need to depend on business analysts. Real-time insights are at your fingertips.”
We’ve been saying for a while that when a company brings all its people, data and systems into one place, the value they get from doing so rises exponentially. Thanks to the work Forrester has done, facts are now there to support it.
Go here to download the study.