Domo surveyed 1,064 individuals in business leadership roles in a wide variety of departments, across a large number of industries. Domo wanted to know how the average business professional feels about the information they have—or do not have—and how they are interacting with that data. The company’s internal study examined the role of business information from a number of important perspectives, including the real-time nature of data, the devices used to access the data, and how information is being consumed within the organization.
In the new world of business intelligence (BI), the front end of an executive management platform, or dashboard, is one of several critical elements needed to maximize the value of your data and traditional BI investments. Dashboards have the ability to leverage and transform your business intelligence into the real-time at-a-glance insights you need to enhance decision-making, reduce costs, increase productivity, respond faster to market conditions, simplify process management, optimize business operations and outpace the competition. Unfortunately, too many dashboard projects fail to meet their potential as a result of organizations committing 7 common mistakes outlined in this article.
In this paper we’ll explore how point solution pollution impacts the top six operational challenges faced by cross-channel retailers, as identified by retailers themselves in Retail Systems Research’s (RSR) new benchmark report, The Multi-Channel Retailer’s Reality in a Post-Amazon World. We’ll also illustrate how Domo’s cloud-based business intelligence platform helps overcome these challenges by enabling retailers to see all their disparate data sources in one place, in real time, on any device.
For many CEOs today, big data is at the top of the strategic agenda. At the same time, many business leaders are wondering how to turn the vast stores of data in their existing systems—in addition to the fast-growing volumes of data generated by the social Web and elsewhere—into top- and bottom-line benefits. According to a 2012 study by global management consulting firm McKinsey & Co., 65 percent of executives say big data and analytics is a priority for their organizations (see Figure 1, “Big Data High on Strategic Agenda,” at right). About half of business leaders say they expect to build competitive advantage with the initiative, and nearly a third intend to build a new business or tap into new profit pools.
In the category of late bloomers, business intelligence (BI) and data warehousing can be added to the list. In use for more than 20 years, BI and data warehousing’s ability to provide substantive benefits remains elusive for many companies. While hard-and-fast statistics are difficult to get, widely reported failure rates for BI projects range from 50 percent to as high as 80 percent. However, such failure rates have not stopped companies from continually trying to gain benefits from BI. The results of a survey released in January 2012 by Gartner found that among the top technology priorities for CIOs, number one was analytics and business intelligence.
Many sales executives are also overlooking some key “moneyball” metrics and doing business the old-fashioned way, by relying on unscientific or indirect guides to track and predict their results. To succeed, organizations need to do what Billy Beane did: jettison the conventional “wisdom” and introduce the right metrics. Then they can dramatically improve results and add an element of predictability and clarity to the often-murky sales process. Here are five moneyball metrics that sales execs can't afford to miss.
Determining the right mobile BI strategy and solution can be challenging amid a mass of conflicting vendor claims, analyst reports, and social discussions. As a result, some organizations unintentionally end up adopting BI solutions that actually cripple their sales professionals' ability to grow and manage their pipeline while in the field. To ensure your organization helps instead of hinders your sales efforts, the following four aspects of mobile BI have a direct impact on your sales success and need to be evaluated by your corporate decision makers as they consider their mobile BI strategy.
Think of that executive you know with her head always bent to her smartphone, checking several different dashboards, and lost somewhere in the datasphere. Got that picture clearly in your mind? Good. That’s not the kind of data-driven CMO we’re talking about. The data-driven CMO has seven little secrets that give her an edge on even the most numbers-bent executives out there. She gets the stories she needs from the information she has, and she executes informed campaigns that keep turning heads. These seven secrets will help you extract greater value and more revenue out of the data you currently have.
Marketing has reinvented itself as a fascinating hybrid of right and left-brain activities.Remember that gorgeous campaign championed by your graphic designer? Now, you have a means to evaluate it by something other than artistic merit. The mountains of data at your fingertips enable you to optimize and enhance your initiatives in ways never before possible. But with all this new information cascading onto marketers' computers, the biggest challenge is figuring out how to consume data and translate it into better decision-making. How is this accomplished? The answer for an ever-increasing number of successful professionals is an effective marketing dashboard.
Your relationship with your data can be a lot like a love affair. Think about it. At first you’re head over heels. Then, suddenly, there’s a distance. Information that used to flow freely is withheld. Simple questions go unanswered. Before, the world seemed so certain. Now it’s all confusion. You just don’t know where you stand. It’s time to admit: your data doesn’t love you anymore.