Domo Unveils Results of New BI Survey
Findings show business professionals feel severely hampered by their inability to access timely, relevant information
SILICON SLOPES, Utah– February 26, 2013 – Even though businesses are collecting more data than ever before, executives are still having trouble accessing the information they need to do their jobs well, according to new survey conducted by Domo.
The report, The BI(G) Disappointment, surveyed 1,064 individuals in leadership roles in a wide variety of departments across multiple industries. The study explored how business professionals are interacting with their data and how satisfied they are with the information they have.
The study found that 93% of all professionals said they rely on business information to do their jobs well. Yet, somewhat alarmingly, only 43% feel they have access to the information they need to perform effectively.
The report also found a sharp disconnect between the information executives have and what they want or need. Fully 84% of respondents agree that real-time business information is vitally important to their success, but 62% say they are unable to access the information they need in a timely fashion.
What’s more, the vast majority of respondents believe that their business information does a poor job answering their questions. Only 20% of respondents felt that the data they receive regularly answers their questions in a satisfactory manner. And just 32% of respondents “rarely” or “never” have difficulty making sense of their business information.
“In today’s uncertain economic times, the need for trustworthy data is more critical than ever,” said Josh James, founder and CEO of Domo. “Businesspeople need to make fast, well-informed decisions to stay ahead of the pack. But without access to reliable, up-to-date information, even the best-run organizations could be in serious jeopardy.”
Findings from the study are divided into several distinct segments including insights from the C-suite, insights from marketing professionals, insights from sales professionals, and insights from current users of business intelligence solutions.
“When we set out to conduct this survey, we expected that data access would be a universal problem for CEOs,” said James. “What surprised us, however, was how pervasive the problem is across roles and across industries.”
The study found that C-suite executives demand anytime, anywhere access to data, and thus are more eager to consume business information on tablets than non-CxOs. Currently, 12% of CxOs are using a tablet for business information, yet 25% said they would ideally prefer to use a tablet to consume information. However, 86% of C-level respondents complained that their reporting lacked key business information.
Marketers also expressed a greater desire for visually appealing business information dashboards to gain better insight and clarity into their data. Today, just 16% of marketers consume business information via dashboards either “often” or “all the time,” according to the Domo survey. However 81% of marketing professionals wished they could view data in dashboards regularly.
Meanwhile, 67% of all salespeople surveyed are dissatisfied with the current level of information at their disposal. They are also concerned about how long it takes to access the business information they need. Some 40% of salespeople think it “always” or “often” takes too long to get information, which is more than any other professional group.
To view the entire report, visit here.
Domo is a cloud-based executive management platform that gives users direct, real-time access to all the business information they care about, all in one place.
With $63 million in funding, Domo is backed by an all-star list of angels and investors including Benchmark Capital, IVP, Andreessen Horowitz, Ron Conway and David Lee of SV Angel, Hummer Winblad, plus the who’s who of SaaS and Internet technology. Domo’s founding team consists of some of the most sought after talent in the industry with experience that includes Amazon, American Express, Ancestry.com, eBay, Endeca, Facebook, Google, LinkedIn, MLB.com, Omniture, salesforce.com and SAP.
For more information, visit http://www.domo.com/.
Julie Kehoe, VP of Communications