In the internet era, data is more valuable than anything else. It can help you answer your questions about customers, product features and prices, business activities that will give you benefits when used carefully. Data in database systems are usually under strict regulations of many organizations so it cannot be changed or deleted without checking with the IT department which causes risk in analysis due to lack of accurate data. Though, in the era where there is more data than ever, especially from the internet and social networking sites that are now created by most people and companies, there is a new technology called “Data Warehouse” that collect all these information or “data”. It helps to gain benefits when using them carefully. Here are some benefits of a data warehouse.
1) A Data Warehouse Allows an Organization To Store the Full History of Their Data and Can Be Used After Months or Years for Needed Analysis, Which Provides an Ability To Create Detailed Work.
Storage capacity is unlimited in a data warehouse, so if the company increases its data in many years, it can be saved without any worry of deleting or changing them. A data warehouse is easily accessible from anywhere in the world.
2) It Helps To Find Patterns and Knowledge
Data warehouses provide benefits in finding relations between products, customers or industries through analyzing the data. Pattern and knowledge can be found easily with using tools to help reveal hidden patterns among the data. Management benefits from this pattern and knowledge as they know how customers are using their product, what kind of industry to invest in, when to raise or lower prices and many more benefits in the market.
3) It Benefits an Organization To Use Different Analytics Techniques (Such As Segmentation).
For example, company B wants to know the benefits in changing prices of their products, while companies A and C want to compare benefits of their product features. So they can use a data warehouse that contain all previous information for years and benefit from different analysis techniques.
4) It Helps Business Owners by Providing Historical Data With Descriptive and Predictive Metrics Which Leads to Benefits on the Key Metrics.
A data warehouse benefits businesses by providing historical data with descriptive and predictive metrics that they can use for decision making, planning, controlling, or forecasting their target.
5) Data Warehousing Provides Relevant Information Accurately and Quickly Which Will Help Them in Reaching Their Goal or Purpose Better.
It benefits to reach their goal by providing relevant information accurately and quickly on selected metrics. More benefits are gained from using a data warehouse because benefits of changing or deleting data in database systems will be reduced.
6) A Data Warehouse Aids Future Decisions When Collected Data Is Used for Historic Trend Analysis Which Helps Companies To Reduce Risk in Planning.
Helps with future decision-making when stored data benefits in historic trend analysis. It benefits to reduce risks and uncertainty in planning by using collected data over a long period of time.
7) It Benefits Companies To Save Money
Benefits are gained when companies use data warehousing carefully. A data warehouse allows an organization to save money by reducing costs in the IT department for maintaining data in database systems and allows companies to use less space and server resources.
8) Allows Organizations To Utilize Their Time Effectively
Time is saved when storing data in a data warehouse, as data is already in one place and can be accessed from anywhere.
Final Thoughts
Although a data warehouse has many advantages, it can be difficult to implement. The advantages of a data warehouse include less time and effort for accessing information from multiple sources and lowers the risk of losing relevant information. However, it takes time to build the warehouse, and must be cleaned before useful data can be added. It is up to the company to decide whether it is wise for them to implement a data warehouse system, or to continue operating in the same way.
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