Reinvent your financial analysis with Domo data analytics services

Finance is always becoming more complex with organizations harvesting data from increasingly disparate systems. This data must be consolidated for data analytics that answer questions from across the organization.

Data needs to be cleaned, validated, then added to a report before it can truly be analyzed. Moving away from manual data analytics processes where human error can easily be introduced, is a good idea. Instead, automate your data analytics tools to analyze your financial metrics in real time.

Explore how you can start automating and streamlining your organization’s approach to data analytics.

Data strategy and management for finance

Organizations struggle with the ability to acquire, manipulate, and store their data, which requires them to build costly data strategy solutions and write custom code to query, transform, and store it in their data warehouse.

With Domo, a data analytics platform, companies can spend less time poring through spreadsheets and pivot tables. Instead, they use Domo’s data visualizations and dashboards to analyze metrics key to their success.

To do this, companies use Domo's built-in data warehouse to store data along with over 1,300 pre-built connectors to pull data from a variety of relevant sources including cloud apps, database servers, and spreadsheets.

Data analytics hurdles in finance

While data analytics has dramatically improved, usage by finance departments and organizations has lagged. Several factors could impact an organization’s data analytics processes. However, there are two main obstacles that impede finance departments and organizations as they look to implement better data analytics.

Finding the right data set

First, finance departments and organizations struggle to obtain, access, or understand the data needed to perform their work more efficiently. The best way to tackle this issue is to start with data the department or organization is already comfortable with. Data that you're already using within spreadsheets for your periodic reconciliations and analysis is probably the best place to begin.