READER WARNING – DOMO is financially stressed. “If other equity or debt financing is not available by August 2018, management will then begin to implement plans to significantly reduce operating expenses,” Domo said in its IPO document. Please search for DOMO IPO stories to get he latest updates. If you are reviewing cloud BI vendors, beware of this one.
Yesterday at Domopalooza 17, DOMO shared a fantastic list of enhancements adding to an already impressive 14,000+ updates to their SaaS cloud BI offerings in 2016. After a bumpy entry into the market a few years ago, they are getting better. Here are the top highlights from DOMO’s annual event opening sessions.
DOMO Business Health
Chris Harrington, DOMO President, revealed to attendees that they have a $120M run rate, over 1000 customers, over 800 employees, and are targeting a 100% YoY growth rate. In this intensely competitive cloud BI market, that information is interesting and revealing. To put it in perspective, Microsoft cited having over 45,000 companies across 185 countries using a competing cloud BI app in July 2015. Qlik cited having 7000 cloud BI customers back in 2015. I don’t have Tableau or Birst numbers available at the moment.
UPDATE 3/23/2017: Another expert in the industry that opted not to be cited just shared DOMO stats mentioned in a Forbes article on April 8, 2015. “For a company with a run-rate of $100 million projecting 100% growth and with 1,000 customers, DOMO’s been somewhat under the radar in recent months.” They are almost the exact same numbers – $100 million vs. $120 million now, 1,000 customers is same as 2015 and 100% growth is same as 2015. Hmmm…
One of the more exciting announcements was DOMO’s Business-in-a-Box. Business-in-a-Box is a set of pre-installed, rapid deployment dashboards for every business function across the enterprise. It is built on an extensive library of pre-built data connectors, apps and content simplifying organizational decision making with common key metrics.
As a huge fan of “easy button” BI template solutions myself, this is awesome news for non-technical customers to get immediate value. Business-in-a-Box makes DOMO more competitive with Datorama, Birst, and several other established cloud BI providers that already offer these types of packaged offerings. Tableau also mentioned this type of capability was coming at their conference in 2016.
The trend of providing vertical and horizontal industry solution BI packages that can be deployed with little-to-no technical assistance means less and less BI professional services work. Across the industry we are seeing more automation of BI development.
Easy Embedding and External Sharing
DOMO White Label program – With DOMO White Label, business-to-consumer and business-to-business organizations such as retailers, technology companies, manufacturers, media companies and advertising agencies can easily deliver the complete DOMO experience with their customers, vendors or partners under their own brand.
DOMO Embedding – You can now share from DOMO via your website, customer-facing portal or custom app. DOMO Embed makes it possible for organizations to share and personalize the real-time data from inside DOMO with relevant people outside the company via a branded website, customer-facing portal or custom app. With DOMO Embed, customers can leverage their existing visualizations and datasets, further accelerating the time to value and ROI from the platform. They claimed to be the first…that was not true. Numerous BI vendors let you embed content. I do enjoy keeping them honest.
DOMO External Publishing – This will be another popular new feature. DOMO announced that you can share data from DOMO with a unique URL. DOMO Publish is a sharing option for customers who need to give ad hoc data access to people or groups. This solution allows customers to create a protected area within DOMO and assign a unique log-in for data access. DOMO Publish is ideal for situations when customers need an efficient and secure method for sharing data. Some use cases for DOMO Publish include providing access to key performance metrics for the Board, or providing contractors with access to the specific data they need to perform their tasks.
DOMO leverages built in single-sign-on integration and personalized data segregation to assure organizations can deliver seamless, secure and personalized experience to their customers and partners regardless of how the data is shared. DOMO builds on existing options for sharing real-time data from the DOMO platform such as Buzz, scheduled reports, slides shows, and Microsoft Word and PowerPoint integrations.
DOMO’s Alert Center is creatively designed and truly exceptional. It is also powered by machine learning. It keeps a constant pulse on your chosen business metrics and over time gets smarter. Alert Center learns who you are, what you care about and surfaces new relevant information.
Other Key Announcements
The product team also unveiled a variety of nice features including but not limited to the following. For more details, check out DOMO.com product announcements.
Period-over-period analysis – Domo’s new period-over-period visualizations make it easy to compare today’s activities to a relevant period in recent history to help drive performance. This instant, internal benchmarking capability eliminates old methods of manually computing calculations and overlaying them against the current period, allowing the business to more quickly get to insights and actions that drive performance.
Data Lineage is a new visual representation of data’s journey through the platform, to help users understand the source(s) and actions that have already been taken on that data. With Data Lineage, analysts can quickly validate the quality of their data, instantly see freshness and status of individual upstream data sources that are being blended together, and understand what makes up the data and transformations that have come together in the downstream data source they are focused on.
Data Slicing – DOMO cards have always offered powerful filtering to let users segment data by a particular value, such as by year or by geographical location. Now analysts can create highly guided analysis paths and make the most common views easier to access from quick “slicer” buttons on the main card interface. Leveraging this capability, business decision makers will more quickly find and navigate to the views the analysts have prepared through these simplified interfaces.
60 New Chart Families, Enabling Hundreds of New Chart Types and New Color Choices – DOMO increases the data storytellers toolkit by providing an even greater range of visualization types and greater control over color choices to emphasize the most relevant data. Note granular color control and contextual filtering is still not available to my knowledge. DOMO does have infographics that are truly unique.
Last but Not Least, One Outlandish Claim – DOMO claims to be the world’s largest analytics platform in the cloud with 25 PB and 100 trillion rows of data. The sizing might be right but they are likely not the largest cloud analytics platform in the world. Google, Amazon or Microsoft probably have larger analytics platforms. DOMO’s marketing group seems to enjoy telling big stories.
UPDATE 3/26/2017: Lead Product Manager for Big Data on Google Cloud Platform tweeted to me that Google BigQuery has individual customers with more than 25PB amount by themselves. I thought that might be the case.