Bassett Furniture Builds a Data-Driven Culture with Domo
10 Julio 2024 - 3:05PM
Business Wire
Storied home furnishings company taps Domo’s AI
and data platform to uncover new trends and insights, modernize its
operations and meet the changing needs of today’s customers
Today, Domo (Nasdaq: DOMO) announced that Bassett Furniture
Industries, Inc. (Nasdaq: BSET) integrates Domo throughout its
operations – from corporate headquarters to retail stores and its
distribution team – to power data-driven decisions. Bassett
Furniture started working with Domo in 2020 and now uses real-time
data to engage retailers, select the right merchandise for a
specific region, reduce unnecessary inventory and maximize retail
space.
Since 1902, Bassett Furniture has been a leading manufacturer of
high-quality home furnishings and was one of the first large-scale
furniture manufacturers in the United States. The company turned to
Domo to help modernize its data operations, overhauling over a
century’s worth of legacy systems and powering a fresh data-driven
culture. Now, employees across the organization use Domo every day,
instantly filtering real-time data, creating dynamic reports and
monitoring trends. With Domo’s mobile app, teams across the country
are updated instantly, reviewing relevant insights for each
location, employee and furniture item.
“We wanted something that would enable us to walk into any store
and have complete insight into the performance of any employee,
furniture item or time period,” said Brian Claspell, CIO at Bassett
Furniture. “Domo’s an incredible tool because it provides data in a
succinct way that allows us to look across product lines and
customer bases. This helps us understand our customers better so we
can provide a better experience.”
Domo enables Bassett Furniture to make data-driven purchasing
decisions through monitoring sales trends and identifying what
customers are likely to buy six months from now. Improved
forecasting helps the company better manage long lead times and
warehouse space by rightsizing inventory and making more relevant
buying choices.
In addition to its owned retail locations, Bassett Furniture’s
products are available at more than 130 independent retailers
nationwide. The company’s leadership and sales teams use Domo to
maximize space in those locations by engaging with retailers and
identifying the right merchandise for each region.
“People need accurate data to make better business decisions,
and Bassett Furniture is a great example of giving employees the
tools they need to help them do it the right way,” said Mark
Maughan, chief analytics officer and SVP of customer success at
Domo. “We believe in the power of data and Domo, and know, when
combined, companies and employees alike can harness the daily
impact of meaningful data. At Bassett, that translates to complete
insight into each store’s historical and current sales performance,
down to the SKU level.”
To learn more about how Bassett Furniture and other leading
organizations are using Domo to put data to work for everyone,
visit www.domo.com/customers.
About Bassett Furniture Industries, Inc.
Bassett Furniture Industries, Inc. (NASDAQ:BSET) is a leading
manufacturer and marketer of high-quality home furnishings. With 88
company- and licensee-owned stores at the time of this release,
Bassett has leveraged its strong brand name in furniture into a
network of corporate and licensed stores that focus on providing
consumers with a friendly environment for buying furniture and
accessories. Bassett’s retail strategy includes stylish,
custom-built furniture that features the latest on-trend furniture
styles, free in-home design visits, and coordinated decorating
accessories. Bassett also has a traditional wholesale business with
more than 700 accounts on the open market, across the United States
and internationally. For more information, visit the Company’s
website at bassettfurniture.com.
About Domo
Domo puts data to work for everyone so they can multiply their
impact on the business. Our cloud-native data experience platform
goes beyond traditional business intelligence and analytics, making
data visible and actionable with user-friendly dashboards and apps.
Underpinned by AI, data science and a secure data foundation that
connects with existing cloud and legacy systems, Domo helps
companies optimize critical business processes at scale and in
record time to spark the bold curiosity that powers exponential
business results.
For more information, visit www.domo.com. You can also follow
Domo on LinkedIn, X and Facebook.
Domo is a registered trademark of Domo, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20240710565590/en/
Cynthia Cowen PR@domo.com
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