Business Intelligence and Marketing- The New Kid on the Block- DOMO
November 18th, 2013 • COMM464, EMarketing
While data is critical to any business function, it is the lifeline of marketing with 83% of the marketing professionals saying that it is critical to have real time marketing data. However despite this need, there is a disparity here in terms of an overwhelming 37% of marketers saying that they cannot access data in real time.
While accessing real time data is one issue, analyzing large mountains of data from multiple sources such as email marketing and social media and gaining insights is a whole other issue.
Enter DOMO
This Software – as – Service company provides real time access to business data and puts business intelligence in the cloud and displays it in a format that is easy to use and draw insights from. Having talked about the use of data and the importance of data management with the use of tools such as databases, DOMO seemed instantly appealing to me. According to various sources and websites, DOMO is able to draw data from various sites, aggregate it, analyse it and then finally display it in a easy to use format. Despite not yet being released full scale, it has already garnered a lot of attention for the capital that it has raised and the various uses its clients are using it for. One example is that of a Fortune 500 retailer seeing real time what colours of products are selling in real time and making changes to production and manufacturing in real time. Such applications can be seen in marketing as well as you can assess in real time, the ROI of different marketing spends and decide if we need to change any aspect of the campaign.
DOMO’s magic doesn’t end here! Not only does it help the marketing professionals achieve excellence by providing them with access to insights but it also is seen as an example of a great user of social media for its own growth. The CEO of the firm Josh James MANDATED his staff (yes, all 130 of them) to essentially complete 20 social media tasks such as tweeting, applying the new Timeline feature in Facebook etc within 8 weeks. The reward? They get to keep their jobs, earn small badges along the way and finally get a day off if everyone completed their goals. This experiment was a huge success and had a positive impact on their brand and in terms of numbers, their twitter followers count increased by 300%, Facebook increased by 28% and Pinterest by 91%. This is DOMO’s magic!