SILICON SLOPES, UT--(Marketwired - June 30, 2016) - Today Domo announced the results of a new Forrester study that examined the financial impact organizations receive from deploying Domo's business optimization platform. The May 2016 Forrester Total Economic Impact study, commissioned by Domo and conducted by Forrester Consulting, found that Domo customers realized an ROI of 294 percent after three years and saw a payback in an average of less than one month.
To determine Domo's economic impact, Forrester interviewed current enterprise customers with multiple years experience using its platform. Each of these customers shared key characteristics, such as:
- Spent regularly on advertising for television and online channels
- Employed multiple analysts (usually several dozen) who study performance data, and
- Generated reports (generally hundreds monthly) to inform company decision makers
Forrester created a composite organization based on the data gathered in those interviews and found:
- Domo helped increase annual revenue by $12 million by optimizing real-time advertising data,
- Domo helped reduce operational costs by 50 percent in six months through better visibility into expense data,
- Domo generated a savings of $4.9 million over three years from the platform's self-service capabilities, which minimized the number of analysts needed to support decision makers, and
- Domo delivered a $7.4 million risk-adjusted overall benefit in just three years.
"Domo's rapid-time-to-value is just one reason companies of all sizes are experiencing notable returns with Domo," said David Thompson, chief strategy officer, Domo. "Organizations have made significant investments in technologies across the business that generate and store business data -- but until now there has been no easy way to get value from it all. Domo's business optimization platform, built on the Business Cloud, gets the relevant data and insights into the hands of those who need it most to make decisions and take actions that improve business results."
Domo helps every employee -- from the CEO to the front line worker -- optimize business performance by connecting them to the right data and people they need to improve business results. The company is backed with more than $500 million from the world's best investors and is led by a management team with tenure at the world's most well-known technology companies.
For more information, visit www.domo.com. You can also follow Domo on Twitter, Facebook, LinkedIn, Google+, Instagram and Pinterest.
Domo is a trademark of Domo, Inc.
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