Simply put, a data warehouse is a system for storing data and producing reports. Input data is usually taken from different systems and stored in the data warehouse for long-term storage and analysis. The advantages of data warehouse are that it allows users from different areas of the business to access, and analyze their needs.

 

Data warehouse solutions are used for analytical purposes. It helps extracting data in the form of analytical applications to facilitate decision-making. It also acts as databases and archives, providing access to historical data that is no longer supported by enterprise systems. DWH is also a repository for data mining techniques, among other things.

 

Advantages Of a Data Warehouse

 

Below are some of the advantages of a data warehouse:

 

Provides Better Business Information

 

The data warehouse allows you to access, analyze and evaluate data from different sources. This way, data is not limited to a specific area, enabling business owners to make better and more intelligent business decisions.

 

The data warehouse and associated business intelligence processes can be directly applied to inventory management, financial management, sales, and marketing.

 

Ensures Data Quality and Consistency

 

The data warehouse enables data to transform into a standardized format. The output ensures that different departments in the company get the same results without differences. This enables companies to work more accurately and make reliable decisions.

 

Data Warehouse Solution Saves Time and Money

 

When a company stores all of its data in one place rather than multiple databases, it saves time accessing individual data sets. Critical decisions can be made faster and more efficiently, and employees no longer have to spend time analyzing unstructured business data from different sources.

 

No specific data skills are required to query data from the data warehouse. It also eliminates the need to manage multiple channels, which is cost-effective. The data warehouse allows the business to move forward at any time, without delay and without relying on external sources.

 

Allows You to Check Historical Data

 

As the company's historical data is stored in the data warehouse, users can always have an overview of the company's processes and developments. This allows companies to track critical data at different points and make informed predictions for the future based on the data warehouse. This can give companies a competitive advantage.

 

Provide A Better Return on Investment

 

Statistics show that companies that invest in implementing a data warehouse and associated business intelligence systems generate higher income and save money in every business process.

 

Why Is a Data Warehouse Worthwhile?

 

Building a data warehouse is expensive and time-consuming to maintain. But it is worth the investment. The advantages of a data warehouse are:

  • A single central access point to the entire data warehouse, instead of individual users accessing dozens or hundreds of systems and databases.
  • Data quality is guaranteed.
  • Transparent history of content stored in the data warehouse.
  • For security reasons, everyday operating systems should be separated from analytical systems.
  • Standard semantics for all content and data, e.g., common terminology, codes for different product types, languages, and currencies.

By storing the entire data set in structured reports, a data warehouse solution can answer several complex economic questions, such as

  • What was the monthly turnover of each product line over the last ten years, broken down by city and state?
  • What is the average cost of a transaction at one of our ATMs, broken down by period and total customer capital?
  • What is the turnover rate among branch employees who have worked at least three years in the past year?
  • How many hours did these employees work per week?

 

Wrap-Up

 

Whether you're looking to implement a new on-premises or cloud-based data warehouse solution, or improve the performance of an existing solution, investing in a data warehouse consulting team can be worthwhile. They can help you leverage your data and turn it into reliable, actionable information that drives business success!

Comments (0)
No login
color_lens
gif
Login or register to post your comment