Data-Driven Analytics is Essential for Competitive Businesses, Expert Says

Being data-driven is essential for any competitive business, according to Jared Lees, VP of product and solution marketing at Domo, highlighting its importance to making smarter and faster decisions. 

“We see customers completely transform their businesses every day by infusing data into their decision-making process and making it more accessible and actionable to everyone in their organizations,” he shared in an exclusive interview with Spotlight.  

Domo, a cloud-native data experience platform, provides centralized data management for businesses to collect, integrate, and analyze data from thousands of sources.  

Through its service, businesses gain a “more holistic view” of the customer journey and make informed decisions based on real-time insights.  

To improve its impact, the company also regularly analyzes its customer data and marketing performance. This helps them develop effective marketing campaigns, optimize featured inventory, and enhance overall customer experience.  

“All of this creates a data-driven culture that enables the business to generate more insight and faster, smarter decisions, resulting in more success,” he added.  

The VP also gave specific examples on how companies can leverage data analytics specific to their markets, and how a big data analytics company like Domo can help them. 

“[We] work with one of the world’s most popular sports media companies that now use analytics tools to pull in TV ratings, website traffic and social media analytics in real-time. Customer satisfaction drives subscription renewals and cancellations, so acting on those insights is tied directly to revenue,” he explained.  

When it comes to the fast-casual restaurant industry, a company Domo works with used to gather data manually, but have since shifted to using analytics platforms to monitor its performance, track inventory, analyze customer feedback, and improve general services.  

“At each store, customers can scan a QR code to leave feedback on delivery speed, food quality and more,” Lees shared.  

“This data is automatically collected, making it simple for store managers to see moment-by-moment feedback for their individual stores while enabling corporate leaders to understand customer sentiment as a whole.”