With so much data available for businesses to compile and review, it can be difficult to keep valuable digital information organized for easy retrieval. To aid in this endeavor, organizations often turn to data warehouses. A data warehouse functions as a large virtual storage space for digital information—in essence, a massive database. But beyond simple data storage, data warehouses are designed to be able to actively filter, analyze, and retrieve massive amounts of data, making data warehouses a necessity for organizations interested in performing almost any form of business analytics. And, given that about 89% of American businesses are investing in data and data analytics, the need for effective, efficient, and accessible data warehouses is increasing, and with that increase, businesses are finding themselves in equally desperate need of superior data warehouse software.
Data warehouse software is designed to act as a go-between for organizations attempting to access or operate their data warehouses. In essence, the primary function of data warehouse software is usability. With the right data warehouse software, organizations can use captured data to spot emerging trends, better understand target customers and demographics, and inform important business decisions. When data warehouse software fails in the area of usability, then it hardly matters how much quality data has been captured in the first place. Of course, usability is something of an umbrella term, featuring many different aspects that need to be considered in order to achieve effectiveness. And, with data-related problems costing the majority of companies more than $5 million every year, and many organizations losing as much as 25% of their potential revenue as a result of badly-used data, the importance of effective data warehouse software programs is one that simply cannot be overlooked. But what is it that makes a data warehouse software solution effective?
Although there are many forms of data warehouse software available, the most effective solutions share certain commonalities:
As stated before, usability is the primary factor in determining how effective a particular data warehouse software solution may be. Some software providers organizations with free trials of their software, so that decision makers can get a feel for how usable the solution is before they commit. Additionally, online reviews and other research can help organizations find the software solution that is right for their needs. And, with as much data as is now available to businesses to analyze through the use of data warehouses, finding the right data warehouse software may be the key to finding business success.