Our Insights

Jeff Strome, Group Lead, Business Intelligence & Analytics

As the world becomes more data centric, we at LMP continue to become more creative, faster, and innovative in how we apply our client’s data to their advertising and their business problems. Our business intelligence platform, Domo, hosts an annual conference called Domopalooza. Domopalooza highlights the latest developments in business intelligence and gives us an idea of what the future looks like for data. At LMP, we use Domo to quickly and easily combine paid media data, web analytics data, macroeconomic data, and our client’s data into one organized, easy to use platform. This acts as a unified reporting platform that lets us easily extract data to use in analyses to solve problems about how paid media spend affects our client’s bottom line, and how we can be more efficient with our buys.

Many of our team members had the opportunity to attend Domopalooza virtually this year and we are excited about the new developments and how we can apply them to benefit our clients.‍

Innovating Mobile Apps

• We use apps on our phone for everything. Whether that be listening to music, playing the latest mobile game, or banking and trading stocks, our phones do it all. Domo is unveiling a new low-code app framework to allow     developers to quickly and easily deploy apps using data stored in Domo. This innovation will help get data to where it is most needed – from the C-suite making executive level decisions, down to the everyday worker to make decisions about product to put on the shelf.

‍Adapting to Where Your Data is Stored

• There are more data warehouses, data lakes, servers, and data storage systems than anyone can wrap their head around. However, your IT team chooses where to store your data very carefully, as there are different applications for each businesses structure. Domo recognizes this and is rolling out the new Multi Cloud functionality. This will allow businesses to store their data in their warehouse of choice, but allow Domo to access it for analysis purposes. All of this done using state of the art data security to make sure that your business and your customer data is safe every step of the way.

‍Focusing on the Big Picture

• Advertising is often viewed in a vacuum. A campaign is run, sales did not increase, advertising is to blame. However, we all know that there are many other factors that can affect businesses, ranging from the weather to gas     prices to inflation rates. How do we combine advertising efforts and real world factors to get a more holistic view of what drives KPIs?  Domo highlighted how one of their partners, Ready Signal, helps simplify the process of figuring out what macroeconomic factors affect a specific business. Ready Signal does the leg work of figuring out what  macroeconomic and external factors affect a business’s sales using advanced statistical methods, and accounting for lag. With those data points, we can combine paid media spend and macroeconomic factors in statistical models to understand what drives KPIs. Using that data, we can be smarter about how we budget paid media to drive maximum efficiency for your dollar. We are working with Ready Signal to see how we can best utilize this powerful capability and get actionable insights into our client’s hands.

Dynamic, Easy-to-Use Dashboards

• There are many quality of life improvements coming to Domo dashboards. These include: new filtering options; dynamic smart text that changes as your data changes; optimized mobile viewing experiences; and the introduction of DDX bricks, which will allow us to develop custom visualizations utilizing services such as Google Maps to overlay our client’s geographic data, making it easier to ingest than ever before. We look forward to utilizing these new features to make our client’s dashboards easier to use and more actionable.