We’ve all been there: after an unnecessarily lengthy search to seek out the right platform or software that may ship all the companies and capabilities your workforce is on the lookout for, you come out of a demo pondering, “I’ve discovered the one.” You begin to sort up a proposal detailing why your workforce wants this new software and all the fabulous options which are going to alter the way in which you’re employed for the higher.
However then you definitely keep in mind—it’s all in regards to the {dollars} and cents.
Your supervisor and your supervisor’s supervisor need proof that these fabulous options are literally definitely worth the cash. So, you’ll have to quantify your return on funding (ROI), which admittedly could be a head-scratcher.
As information specialists, we don’t need you to get caught on the proposal section since you’re struggling to determine the numbers. We all know that Domo will help you create worth by way of enterprise intelligence and drive innovation in your firm with our AI and information merchandise.
However understanding the advantages of utilizing Domo and figuring out the return on funding with Domo are two various things. So as a substitute of simply specializing in how Domo improves decision-making, we additionally need to assist you determine tips on how to write up your personal Domo price justification supported by precise numbers.
Fortunately, we now have a mixture of analysis and case research that may assist.
Need assist placing actual numbers to your personal enterprise case? Get a customized session with a Domo workforce member to discover what ROI might seem like in your workforce.
Domo’s enterprise intelligence ROI by the numbers
In 2024, Nucleus Analysis carried out a number of ROI analyses of firms that had built-in the Domo platform into their work techniques. Their conclusions had been crystal clear: Domo improves the underside line.
For each greenback an organization invested into Domo, that firm noticed a return of $6.93—a mean ROI of greater than 500 %.
- Whereas basic analytics know-how usually offers sturdy returns of $6.20 for every greenback spent, Domo nonetheless considerably outpaces these choices.
- Moreover, firms that spend money on Domo are shortly recouping their funding. The common payback interval for Domo was lower than 9 months.
How does Domo generate this ROI? Nucleus broke it down into three major drivers:
Price financial savings
On common, Domo decreased buyer know-how prices by 20 %.
How? Reasonably than utilizing a number of platforms to retailer information, our centralized information administration system permits you to combine your entire information sources throughout your group into one.
That actually makes analytics simpler, but it surely additionally permits you to lower down on pointless charges for sustaining entry to all of these completely different legacy techniques that you will have slowly accrued through the years. You’ll be able to drop these outdated or duplicative instruments to deliver down your funds.
Improved productiveness: With Domo, organizations usually improved operational effectivity by 35 %.
How? Groups can save hundreds of hours annually through the use of Domo’s automation and AI options. Efficiency monitoring and producing experiences for administration can take a fraction of the time when your groups have entry to Domo’s real-time dashboards that assist you make data-informed choices shortly. Automating these time-consuming duties like information reconciliation additionally frees up your workforce members to concentrate on extra strategic initiatives.
Income and revenue growth: Because of intelligence supplied by Domo, organizations typically elevated annual revenue by 15 %.
How? By allocating sources extra effectively and making strategic choices backed by information, you finally set your organization up for worthwhile development. Our predictive analytics instruments present real-time insights that may assist preserve your clients glad and entice new enterprise alternatives.
You’ll be able to analyze why sure advertising and marketing campaigns outperform others or higher predict which merchandise you need to preserve in inventory in sure seasons. With Domo, you may immediately rework enterprise intelligence into precise worth.
Realizing Domo analytics worth in actual time: A case research
Typically even the numbers aren’t sufficient to justify a purchase order, so you could want to indicate these funds approvers and IT professionals how different firms are creating aggressive benefits utilizing Domo.
Look no additional than Zippo Manufacturing Firm. Zippo produces a various line of merchandise, together with candles, eyewear, cutlery, and tenting gear. Nonetheless, you in all probability know them finest for his or her iconic windproof lighters, which they started manufacturing in 1932.
With a rising product line and workplaces throughout the globe, Zippo’s executives struggled to develop coordinated advertising and marketing methods with out a unified image of their firm information, till they introduced in Domo to create a single supply of fact.
The advantages of a centralized information system shortly turned obvious:
- By connecting information from their paid media, world social media and owned media, Zippo elevated year-over-year attributed income by 12 %.
- The power to swiftly determine cart abandonment points allowed the corporate to create new buyer journey flows, which elevated cart stream income by 32 %.
- Enabling stakeholders from throughout the corporate to research US e-commerce transport price invoices saved the corporate $250,000 yearly.
“It was very gratifying to indicate the Board of Administrators that the return from simply the primary 4 tasks dwarfed the funding we made in Domo,” stated John Sicher, govt vp of promoting and innovation.
The advantages of a enterprise intelligence platform
The advantages of Domo aren’t restricted to 1 enterprise space. Irrespective of your trade or perform, you may see returns in your funding. If Zippo’s testimonial wasn’t sufficient to persuade you, don’t fear—we now have loads of different glad clients who’ve shared their tales about how our platform has helped rework their companies.
Buyer success
With Domo, healthcare firm Cenegenics has been in a position to enhance the way it screens affected person care and determine the place to recruit new efficiency well being coaches to raised serve purchasers, leading to a 16 % improve in purchasers.
Promoting
Actual Salt Lake, an expert soccer membership in Main League Soccer, makes use of ticket information to determine which video games are near promoting out and which have seats obtainable with a view to modify promoting spend to video games that can have better impression on income.
Advertising
Utilizing Domo, Freddy’s Frozen Custard & Steakburgers can mannequin its menu lineup to find out which objects are hottest, permitting the corporate to create extra impactful promotions and limited-time provides.
Gross sales
TaylorMade Golf makes use of Domo to determine the bestselling merchandise from every of its personal shops and from comparable shops throughout areas, sharing this info with retailers to tell stocking choices, maximize gross sales, and strengthen retailer relationships.
IT
Origin Financial institution, a regional neighborhood financial institution with places all through the southern US, saved roughly $200,000 in prices for pointless know-how options inside its first yr of utilizing Domo, due to the platform’s strong evaluation capabilities.
Provide chain logistics
Indonesian meals provide chain startup Pasarnow analyzes historic buyer buying patterns to permit farmers to forecast future demand, which has helped to cut back meals wastage by 90 %.
Reporting
With a single supply of fact for all of its information, UPS’s warehouse operators have lower down the time it takes to finish required reporting from two hours each day to simply quarter-hour.
Staffing
Harmons, a Utah-based grocery store chain, has been in a position to analyze their gross sales information in opposition to their HR information to forecast labor wants hour by hour and modify their staffing to take full benefit of their highest gross sales durations.
Worker retention
Goodwill of Central & Southern Indiana collects and analyzes information from worker satisfaction surveys to raised perceive what points drive retention and turnover throughout completely different workers cohorts.
Volunteer coordination
The Nationwide Coronary heart Basis of Australia has been in a position to consolidate information from its completely different techniques to trace volunteer utilization charges and extra swiftly interact volunteers with the mandatory ability units to take part in particular actions, occasions, and campaigns..
Make a wise funding in your corporation at the moment
Is Domo actually value it? And what’s your seemingly return?
The calculus will likely be completely different for each group—and also you don’t must determine it out alone. Get a customized session with our workforce to see what sort of time financial savings, price financial savings, and enterprise impression Domo might ship for you.
Want to discover by yourself first? You may as well begin a free trial and begin imagining the probabilities.
