What Makes This Advantageous?
Having access to an effective enterprise data warehouse provides a number of significant benefits. These advantages range from simple, house-keeping issues, to ones that have a significant impact on the success of the company as a whole. Here are some of the most-impactful advantages offered by data warehouses:
- Data warehouses offer added support for data, in that they are designed to track, manage, and analyze information, in order to provide a more-actionable resource.
- EDW’s work hand-in-hand with other analytics programs to promote company growth. In fact, about 37% of businesses state that data analytics processes facilitate growth in the business.
- They provide context, and demonstrate the relationships between individual data points. This allows for better understanding of what the information means, and how it can be put to use.
- Data Warehouses are capable of tracking and modifying marketing campaigns, for faster, more accurate evaluation of campaign effectiveness.
- It allows users to store as much data as needed with regards to a large variety of parameters. That data can be drawn from multiple, often-unrelated sources.
- EDW’s refine data, eliminating useless excess or redundant information, and improving overall data quality.
- Gives the user the ability to examine information within the platform itself. This keeps data manipulation to a minimum and integrity at its highest level. Allowing decisions to be made with the most accurate data possible.
- Taken all together, these advantages have been known to reduce cost associated with data analytics, and to increase company ROIs. And given that data-related problems cost the majority of companies more than $5 million annually, this is one advantage that is particularly difficult to overlook.
Implementing an Enterprise Data Warehouse Solution
There are a several software providers that offer enterprise data warehouse architecture solutions, but for something that fits perfectly with your existing systems and processes, you’ll be better off building your own. This is not nearly as daunting a prospect as it might appear. By starting with a reliable CRM platform, users can effectively design a working data warehouse that is completely compatible with their organizations, and that is on par with anything being offered on the market. This link gives a detailed account on how to do so.
Understanding the concept behind the data warehouse goes hand in hand with understanding the needs of your business. So, before you commit to any specific data warehouse solution—or build your own—do your research. Identify your goals and your data needs, and take a close look at cases detailing the use of this particular tool. After all, with all of the advantages offered by implementing an enterprise data warehouse, it only makes sense to do it right.