The Lighter Side Of The Cloud – Scalability
The Lighter Side Of The Cloud – Drone Removal Services
The Lighter Side Of The Cloud – Medical News
The Benefits Of Having A Data Warehouse

The Benefits Of Having A Data Warehouse

The Benefits Of Having A Data Warehouse

Since the advent of the Internet and the explosion of digital marketing, the potential for creating and using data has grown exponentially. In the 1990s, Bill Inmon published a book called “Building the Data Warehouse,” which introduced the modern concept of data warehouses. According to the book, “Data warehouses provided a much-needed strategy for organizations to collect, store, and analyze vast amounts of data. As businesses expand both brick-and-mortar and online activities, the field of data warehousing has become increasingly important.” Data warehouses provide an easy way to peruse vast stockpiles of information in order to discover pertinent facts about customers or products, which in turn can lead to more informed business decisions. For example, if you wanted to analyze a specific department, such as “sales” or “marketing,” you could do so with information extracted from the data warehouse.

A 2010 Forbes Insights study found that “data-related problems cost the majority of companies more than $5 million annually,” and costs 20 percent of companies more than $20 million annually. Utilizing a data warehouse can help ensure that the data being analyzed is accurate and consistent.

data-costs

Because assembling a data warehouse can be an expensive undertaking, large corporations and companies are the primary warehouse customers. However, small businesses can gain many important benefits from creating their own data warehouse as well.

First, data warehouses can save companies’ valuable time by storing important information in the same location. Rather than keeping data in several different places (such as inside CRM programs, social media accounts, and Excel spreadsheets), business owners can store data in one centralized location. As a result, they can harness this centralized data to enhance strategic decisions, without having to aggregate different sources. Data warehouses can also save money as business owners and executives can search the data without extensive assistance from the IT department.

Second, companies can benefit from storing their data in the same format. Since data from different departments is standardized, each department will create results that are in sync with other departments. This ensures data quality and uniformity. As a result, business owners and executives can feel confident that their data is accurate, which will lead to more informed business decisions.

Third, data warehouses can improve business intelligence. Because the data warehouse combines information from various parts of the business, owners and executives can feel confident that their decisions are being made based on comprehensive information. Data warehouses can provide a full picture of a company’s marketing and financial plan, inventory management, and sales history. This allows key players to make decisions that are based on facts rather than intuition.

Forbes magazine stated, “While it’s true that data warehouses have been around for years, their value keeps growing because they represent a company’s crown jewels—prized data on customers and business performance.” For example, health care providers use information gleaned from data warehouses to streamline patient care and improve service. Marketing teams can use information collected in the data warehouse to make sure they are targeting the right demographics. Executives can use the data to streamline operations or reevaluate products.

Companies who want to create a data warehouse can start by figuring out what their business objectives are and how having a data warehouse will contribute to these goals. Next, they should choose a database management system for their data warehouse. Then, they need to construct a data model and plan the data transformation. Afterwards, businesses need to begin testing the plan to see what needs to be tweaked or changed.

WIRED magazine stated that Google spent years working to successfully master sophisticated data warehouses. Writer Steven noted, “Google knows exactly what it needs inside its rigorously controlled data centers—speed, power, and good connections—and saves money by not buying unnecessary extras. No graphic cards, for instance, since these machines never power a screen.” Small businesses should consider their business objectives and needs in order to create a data warehouse that’s right for them.

Data warehouses not only save time and energy through stockpiling data in one centralized location; they also guarantee that the information provided will be more accurate and reliable than data gleaned from other sources. Businesses that are serious about utilizing technology to their advantage should consider creating their data warehouse.

By Keith Cawley

Follow

TechnologyAdvice

TechnologyAdvice helps companies find business technology. We’ve researched and reviewed hundreds of products in a variety in order to find the best solutions in a variety of areas, including business intelligence, healthcare IT, and project management software. Users can read product reviews, find the latest industry news, or sort products based on their individual needs. We’ve advised hundreds of businesses, including multiple Fortune 500 companies.
Follow

Sorry, comments are closed for this post.

Backup

Recent

Surprising Facts and Stats About Your Online Security

Surprising Facts and Stats About Your Online Security

Surprising Facts and Stats – Online Security It’s easy to get lulled into a false sense of security when browsing the web. As more and more devices join the internet of things, the risk of becoming a victim of a criminal cyber gang is increasing – we have more unsecured access points and offer would-be…

World Backup Day: Understand The Data You Are Protecting

World Backup Day: Understand The Data You Are Protecting

World Backup Day: Understand The Data You Are Protecting Did you know that 113 phones are lost or stolen every minute? What about the fact that 1 in 10 computers are infected with a virus every month? Thanks to World Backup Day, an independent initiative that was started in 2011, awareness is being raised about…

The E-Learning Market – Cloud Computing Adoption

The E-Learning Market – Cloud Computing Adoption

The E-Learning Market  We’ve talked a fair bit about e-Learning and MOOCs (Massive Open Online Courses) technologies here on CloudTweaks over the past number of years. The industry is expected to continue to grow at a brisk pace as more and more firms and educational institutions start to adopt cloud based services.  Docebo has an excellent…

Popular

Cloud Infographic – The Future (IoT)

Cloud Infographic – The Future (IoT)

The Future (IoT) By the year 2020, it is being predicted that 40 to 80 billion connected devices will be in use. The Internet of Things or IoT will transform your business and home in many truly unbelievable ways. The types of products and services that we can expect to see in the next decade…

Five Signs The Internet of Things Is About To Explode

Five Signs The Internet of Things Is About To Explode

The Internet of Things Is About To Explode By 2020, Gartner estimates that the Internet of Things (IoT) will generate incremental revenue exceeding $300 billion worldwide. It’s an astoundingly large figure given that the sector barely existed three years ago. We are now rapidly evolving toward a world in which just about everything will become…

Cloud Infographic – Interesting Big Data Facts

Cloud Infographic – Interesting Big Data Facts

Big Data Facts You Didn’t Know The term Big Data has been buzzing around tech circles for a few years now. So much, in fact, that you’re probably getting sick of hearing about it. Here are some interesting facts you might not know about big data via The Visual Capitalist: Big Data got its start in the…

Forrester Releases Its “15 Emerging Technologies To Watch Before 2020” Report

Forrester Releases Its “15 Emerging Technologies To Watch Before 2020” Report

15 Emerging Technologies To Watch Before 2020 The cloud, big data, the internet of things, and wearable technology have all featured heavily in Forrester’s latest list of fifteen technologies to watch before 2020. It is becoming a reality for businesses that they need to adapt and change to an increasingly technologically-minded customer base. Traditional marketing…

The History Of Back-Ups

The History Of Back-Ups

The History of Back-Ups There’s no doubt about it – we are spoilt. With external hard-drives, CDs, USB memory sticks, SD cards, online storage and multiple devices with vast memories we can save, access and back up our data more easily and more efficiently than ever before. (Image Source: Maxim Yurin, SoftLogica)  It’s not always been…

Sponsored Posts

How To Keep A Cloud (And Your Data) Inside Your Borders

How To Keep A Cloud (And Your Data) Inside Your Borders

The Cloud And Your Data One of the greatest challenges for companies considering a move to the cloud is in its very global and seemingly borderless nature. As an Internet-based technology, it is easy to assume that any data sent from A to B can take any one of a thousand paths, routed through cities…

Cloud Logo Sponsors

hp Logo CityCloud-PoweredByOpenstack-Bluesquare_logo_100x100-01
cisco_logo_100x100 vmware citrix100
Site 24x7


Contributor Spotlight

Established in 2009, CloudTweaks is recognized as one of the leading influencers in cloud computing, big data and internet of things (IoT) information. Our goal is to continue to build our growing information portal, by providing the best in-depth articles, interviews, event listings, whitepapers, infographics and much more.

Branded Content Programs

Advertising