Data Warehouse is a collection of standardized data from heterogeneous sources which helps in analyzing the data and reporting the results in a structured way to help in the decision-making.
Ever wondered if Data Warehouse is necessary? We are going to give you 7 reasons that makes Data Warehouse worth the investment!
1. Integrated Data
Suppose we have data from various sources. Without data warehouse, it will be difficult for business leaders to analyze and make decisions out of it.
Data warehouse provides great comfort by acting as a single data source of all the external and internal data that has been integrated in a uniform format. It gives a complete picture of the data and acts as a compatible source for every aspect and dimension of your business.
2. Massive and Meaningful Data
Tired with lots of data?
Data warehouse allows you to maintain large volumes of data where the access to the required information can be easily available.
With such huge data, ambiguity is common. With ambiguity, comes the inefficiency to deal with the data.
This can be handled if the meaning behind the data variables is easily understood. Data warehouse is more user-friendly compared to the other data sources. It enables you to retrieve quick and easy results along with proper understanding of the data essence - which cannot be found in the source system.
3. Real-Time and Interactive source
As your data changes continuously in every dimension of the operations, it is burdensome for you to handle the static data.
No need to worry! Data Warehouse comes to your rescue!
Data Warehouse can be used as an interactive information source where the interaction can happen in real-time and the reports generated can be used to gain multiple insights into the business analytics.
4. Historical Accuracy and Analysis of Data
The data concerning your business goes way back and continues for a long time. At times, you may need to access the data of your past operations and past market situations. This will help you to analyze how the market is changing and how it is affecting your business. So, handling your history of data efficiently is needed.
Using ETL (Extract-Transform-Load) for Data warehousing helps in reducing room for manual errors
and human risk. It enables you to maintain historical data by ensuring the consistent record of data changes in the source system. This data allows you to perform the historical analysis and compares
the performances as well as improvements resulted from these changes.
For example, when you implement a change in your product or service, the reports before the change can be compared to the present reports which enable you to make rational decisions regarding the business.
5. Faster and Efficient Source
In this era of the digital world, the idea of analyzing and writing reports manually from the data is exhausting. And again, you need the reports to be easily understandable.
Data Warehouse helps you to spend less time on data extraction and report generation. This quick retrieval and analysis increase the efficiency of your job. Although it involves aggregating and analyzing huge data, the data warehouse architecture helps in the faster analysis of the data than other reporting tools such as Excel and R Studio. Also, as compared to these tools, the data warehouse is less expensive which makes it more attractive.
6. Secure source
Since all your data is present at a single place, it may need your IT department to look over the data and its operations. But imagine if an analyst needs simple data from the source and needs to go through a long process of asking the IT department, waiting for long-hours, and retrieving it. If this is done multiple times, it takes more time to complete simple operations.
If the data is secured at multiple levels, then access can be given to all the employees according to their needs. This is done by controlling the access of certain users to the data and determining the extent of operations that a user can perform on the data, i.e., viewing, modifying, or updating.
So, you can select which employees can access what data and what are the operations they can perform on the data. You can also audit the usage of the data and retrieve all the information regarding the operations performed by a user on it.
And being a secure source of data, data warehouse is also able to maintain confidential data effectively.
7. Flexibility of the Data source and Analysis reports
These days, we have lots of resources on Business Intelligence (BI) tools that can provide easy illustrations of the data reports. Owing to the flexible data warehouse architecture, you can easily collaborate with different BI tools and contribute towards the best reporting display structures of the results. This allows you to take rational managerial decisions easily.
In addition, these Data warehouse structures enable you to analyze the reports in whichever dimension required and help in accommodating the additional prospects of your product or service.
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