RANSOMWARE TRACKING MAPS

Recent problems experienced with Ransomware are evident from infections, which have occurred in 99 countries including China and Russia. The organization that was worst hit by the attack was the National Health Service in England. It was reported that there was a WannaCry programme that demanded...

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

About 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.

View Website

SYNDICATED NEWS SOURCES

(ISC)2 and Cloud Security Alliance Host Cloud Security Summit to Help Cybersecurity Pros Securely Harness Cloud Technologies

By CloudBuzz | September 22, 2017

(ISC)2 and Cloud Security Alliance Host Cloud Security Summit Research cites strengthening of cloud security skills top priority over next three years CLEARWATER, Fla. ,Sept. 22, 2017 /PRNewswire-USNewswire/ — (ISC)² today announced it’s partnering with the Cloud Security Alliance (CSA) for the CSA…

Exclusive: T-Mobile, Sprint close to agreeing deal terms – Sources

By CloudBuzz | September 22, 2017

(Reuters) – T-Mobile US Inc (TMUS.O) is close to agreeing tentative terms on a deal to merge with peer Sprint Corp (S.N), people familiar with the matter said, a major breakthrough in efforts to merge the third and fourth largest…

Hack of U.S. securities regulator rattles investors, stirs doubts

By CloudBuzz | September 21, 2017

WASHINGTON/NEW YORK (Reuters) – Wall Street’s top regulator faced questions on Thursday about its defenses against cyber criminals after admitting hackers breached its electronic database of corporate announcements and may have used it for insider trading. The incursion at the…

Leaking Cloud Databases and Servers Expose Over 1 Billion Records

By CloudBuzz | September 21, 2017

Servers Expose Over 1 Billion Records As The Wall Street Journal recently pointed out, some clients of cloud service providers such as Amazon and Microsoft are accidentally leaving their cloud databases exposed due to misconfigurations of their services. Coupled with recent headline-making…

Thales Joins the Microsoft Enterprise Cloud Alliance

By CloudBuzz | September 21, 2017

SAN JOSE, Calif., Sept. 21, 2017 /PRNewswire/ — Thales, a leader in critical information systems, cybersecurity and data security, is now a member of the Microsoft Enterprise Cloud Alliance (ECA). Designed to foster innovation and promote awareness of partner solutions, the ECA membership…

Addressing the UK NCSC’s Cloud Security Principles

By CloudBuzz | September 20, 2017

As your organization adopts more cloud services, it’s essential to get a clear picture of how sensitive data will be protected. Many authorities, from government regulators, to industry standards bodies and consortia, have provided guidance on how to evaluate cloud…