What is Domo and How Does it Work?

Did you know that Domo puts your data to work using AI and helps you get to great insights more quickly? And did you know that the tool was named after “domo”, the Japanese word for “thanks”, because the customers should be grateful for fast, actionable insights?
Today, we find out what Domo is, who should use it, and whether you should consider it as your next business intelligence tool or not.

What is Domo?

Domo is a cloud-based BI tool and data visualization platform that helps businesses turn raw data into actionable insights. With a combination of great data integration options, customizable dashboards, AI capabilities, cloud collaboration tools and other features, it allows businesses to unearth valuable insights from their data.

What are Domo’s standout features?

Here are some of the main reasons why businesses use Domo for their data analytics needs.

• Real-time data access: for analysis and visualization, data fetching is very quick. However, Domo may struggle with larger data sets
• Outstanding integrations: over 1,000 integrations with various apps and data sources in the Domo app store
• User-friendly interface: be it for your internal team or end-users used to Excel, Domo shines in the UI/UX department
• Customizable dashboards: the end users won’t need a tutorial or guidelines to create the kind of dashboards that answer their burning questions
• Mobile-first design: you can access all the data in the business cloud on the go, using a variety of devices
• Collaboration features: teams can work together and create workflows for data analysis or visualization
• AI and machine learning features: Domo users can use AI for natural language processing (asking questions to get answers about their data), data forecasting, uncovering patterns and more
• Pre-built apps and templates: you don’t have to start from scratch; Domo has a list of workflows and templates to inspire you

Overall, Domo reviews are overwhelmingly positive if we look past the issues with pricing, performance and the limited embedded analytics use case.

What you should know about Domo pricing

We’ve covered Domo pricing in detail in another blog post, so we’ll cover the basics here. There are three main plans to choose from:

• Standard
• Enterprise
• Business Critical

There is no information on how much these plans cost anywhere on the Domo.com website. All of the plans offer the main, cloud-based platform and the main difference is in the level of support you get, as well as the discount you get on credits.

And credits you will need for everything because Domo’s pricing is consumption-based. Data storage, ingestion, data visualization, Magic ETL, fetching real-time data to be used in dashboards… All of these cost credits.

Our research shows that the total cost of Domo for most of their customers is anywhere between $20,000 and $100,000.

Who is Domo really for?

We could say that the Domo platform is made for data-driven teams that want to take the guesswork out of decision-making. But it’s a bit more complicated than that. Here is who can benefit from what Domo offers.

• Enterprise companies that want to empower more people to make data-driven decisions. Domo costs a pretty penny and it’s not made for small businesses.
• Larger companies that want to replace tools such as Salesforce’s Tableau and Microsoft’s Power BI with something more AI-focused for their business users.
• Operations and finance teams that want to do task automation with low-code tools. Instead of building with code from scratch, both apps and BI can be built on top of Domo.
• Mixed teams with data science professionals and regular business users. The data analysts set up the data sources, connectors, and data integration, while the regular business users benefit from the drag-and-drop functionality and the dashboard builder.

In other words, the Domo business use case overlaps quite a bit with the other major players in the market, such as Sisense, Tableau, Looker, Qlik, Power BI, and newcomer BI tools and Domo competitors such as GoodData.

Why not get Luzmo instead?

For SaaS companies and software vendors looking to add embedded analytics to their apps, Domo is not always the best fit. While it works well as a standalone BI platform, it can be slower to implement and embed into customer-facing products.

With Luzmo Studio, developers can quickly build and embed dashboards directly into their applications using flexible APIs and SDKs. Luzmo IQ enables users to explore data and uncover insights automatically, while Luzmo AI allows business users to ask questions in natural language and receive instant answers and visualizations.

This combination makes it easier for SaaS teams to deliver self-service analytics experiences without requiring deep BI expertise.

Want to see how Luzmo can help your business? Book a free demo with our team today!