Domo Introduces a New Data Science Suite, Making it Easy to Deliver Advanced Data Insights to Business Decision Makers
SILICON SLOPES, UT – December 17, 2018 – Domo (Nasdaq: DOMO), provider of the leading cloud-based operating system for business, today introduced the Domo® Data Science Suite, a new offering that brings both basic and advanced data science capabilities directly into the Domo platform, making it simpler and faster to automatically deliver new insights directly to decision makers across the business.
“As organizations look to leverage more advanced analytics on their data, the ability to perform data science functions quickly, accurately and securely is becoming increasingly important in maintaining a competitive edge,” said Josh James, founder and CEO, Domo. “Our Data Science Suite leverages the power and scale of the Domo platform to enable more areas of the business to benefit from advanced analytics in guiding impactful business decisions.”
This new Data Science Suite offers in-product functionality with new R and Python scripting action tiles and data science action tiles, as well as consulting services to support customers through the data science process. The suite builds on Mr. Roboto, which was announced in 2017. Mr. Roboto is a set of capabilities in the Domo platform that leverage artificial intelligence (AI), including machine learning (ML) and predictive analytics, to power more advanced insights, recommendations and alerts for business decision makers across the enterprise. These AI, ML and natural language processing capabilities power numerous features in the Domo platform such as alerts, narratives, forecasts and predictive analytics. Mr. Roboto is also leveraged in packaged apps and services developed by Domo and Domo partners, powering a growing number of new offerings such as the Data Science Suite and Retail Performance Suite.
Customers across numerous industries are adopting the Data Science solutions. Triumph Motorcycles Ltd, for example, is looking to increase its analytics capability by ensuring that its data scientists have the best analytics tools in the market to create complex forecasting and analytics models. This will ensure all members of the team at Triumph Motorcycles are making calculated data-driven decisions to improve the customer’s digital experience.
“Our data scientists use powerful and well-established tools and processes to prepare and enhance data, yet the processes are time intensive and require too much time moving data back and forth, rather than doing the more highly valued work,” said Andy Jackson, Global Head of Digital, Triumph Motorcycles. “As Triumph looks to leverage more predictive insights to guide our decision making, Domo’s new Data Science Solution empowers our data scientists to do their jobs more quickly to help our business stay competitive.”
Domo’s new Data Science Suite is introduced to the platform at a time when the gap between the demand for smarter analytics and the ability to deliver them is widening. According to Gartner in its Top 10 Strategic Technology Trends for 2019 research, Gartner expects that, in the next several years, citizen data science will rapidly become more prevalent as an approach for enabling and scaling data science capabilities more pervasively throughout the organization. Gartner predicts that, by 2020, more than 40% of data science tasks will be automated, resulting in increased productivity and broader use by citizen data scientists. Gartner also predicts that, by 2024, a scarcity of data scientists will no longer hinder the adoption of data science and machine learning in organizations. This growth, enabled by augmented analytics, will complement and extend existing analytics and BI and data science platforms, as well as enterprise applications. It will do so by putting insights from advanced analytics — once available only to data science specialists — into the hands of a broad range of business analysts, decision makers and operational workers across the organization. This will drive new sources of business value.
Domo’s offering addresses these challenges through a combination of new in-product capabilities and consulting services, that include the following:
New R and Python Scripting Action Tiles
Domo’s new Data Science Suite includes new R and Python Scripting Action Tiles that enable advanced users to combine the power and convenience of the Domo platform with the precision of their data expertise by embedding their custom scripts directly into Magic ETL. Magic ETL is Domo’s user-friendly tool that simplifies the process of automatically updating, cleansing, combining and transforming business data through a highly visual drag-and-drop interface. With data centralized in the Domo platform, data transfers between systems to conduct data science functions are eliminated, improving the speed and security of delivering enhanced data to decision makers.
Data Science Action Tiles
Designed for the citizen data scientist and to improve the speed of basic data science functions, Domo’s new Data Science Action Tiles address the most common data science use cases, allowing these functions to be applied to data in Domo with drag-and-drop ease in the Magic ETL process.
These common data science functions include classification, clustering, forecasting, multivariate outliers, outlier detection and predictions. These functions provide insights that help decision makers in various ways such allowing them to respond rapidly to market campaign performance, improving their sales forecast accuracy or optimizing their manufacturing plans.
With data centralized in the Domo platform, customers have easy access to the business data sets they need for advanced analysis, while Domo’s native library of more than 500 pre-built connectors and the platform’s ability manage and process large volume of data, ensures that advanced insights from data science functions can be easily shared and collaborated with across the business.
New Data Science Consulting Services
The suite also includes a new Data Science Consulting Services package that leverages a team of expert data scientists, statisticians, data architects and data engineers with diverse professional and academic backgrounds to assist customers in using data to gain actionable insights and predictions that support their specific business needs. Domo’s Data Science consultants collaborate with customers during each phase of the data science process: planning, data preparation, modeling and solution visualization. They also assist with implementing data science solutions to inform business decisions and facilitate a competitive advantage.
Domo’s Data Science Consultants work with customers of all backgrounds, from novice to advanced data scientists and bring experience in using data science across all functional business areas. For customers new to data science, Domo’s Data Science Consulting Team includes professional data science educators who work with customers to enhance their existing skillsets.
“Through our Data Science Action Tiles and Data Science Consulting Services, we’re reducing the learning curve of basic data science analytics for customers who don’t have an in-house expertise and providing guardrails to ensure success. At the same time, we’re providing customers with more advanced analytics skills the ability to perform regular data science functions without the burden of repeating many of the manual and time-consuming processes,” said James.
Domo’s new Data Science Suite is available to all Domo customers and partners. As a centrally deployed solution through the Domo platform, it is easily scalable and delivers rapid time to value. For more information, visit: http://www.domo.com/apps/data-science-suite
Domo’s mission is to be the operating system for business, digitally connecting all your people, your data and your systems, empowering them to collaborate better, make better decisions and be more efficient, right from their phones. Domo works with many of the world’s leading and most progressive brands across multiple industries including retail, media and entertainment, manufacturing, finance and more. For more information about Domo (Nasdaq: DOMO), visit www.domo.com. You can also follow Domo on Twitter, Facebook and LinkedIn.
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This press release contains forward-looking statements as defined within the meaning of the U.S. federal securities laws, including statements regarding the results and benefits from using the new Data Science Suite, the expected increased utilization by Domo customers of the Domo platform, empowerment of Domo customers to monetize, share, and otherwise better leverage their data, and related anticipated results. These statements are based on information, expectations and assumptions as of the time of this press release with respect to future events and business performance and are subject to risks and uncertainties that may cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements, including but not limited to the risks set forth in our Registration Statement on Form S-1, as amended, and our other filings with the U.S. Securities and Exchange Commission. Forward-looking statements should not be read as a guarantee of future performance or results, and they will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.