6 Great Benefits of Data Warehouse
A Data Warehouse is a critical part of any business looking to scale in 2018.
Story originally published here.
Are you unfamiliar with the concept? Well, it is in fact a central and permanent storage location for the various data sources necessary to support your reporting, analysis and other business intelligence solutions. Not only will the powerful BI tool effortlessly convert your data into useful reports, but it will also provide you with valuable insights empowering you to make better business decisions — every single day.
According to the Data Warehouse Institute, this tool should be at the very core of any modern business. But are you still sitting on the fence? While the costs of a data warehouse is relatively easy to estimate, the ROI can unfortunately be a bit more tricky to evaluate.
Here are 6 amazing benefits of having a data warehouse — and how it can take your business to the next level.
Automated Tasks Leads To Better Reporting
It shouldn’t come as a surprise that automated tasks can lead to better reporting.
Implementing a data warehouse can automate your processes and tasks, leaving you with easy and effortless reporting tools. The accurate reports will lead to increased productivity and better quality. Your data warehouse can also be integrated with your CRM system to incorporate even more data.
Additionally, a data warehouse can also handle business processes such as sales management, financial management and inventory management.
Better Reports Lead To Better Decision Making
By deploying a data warehouse, you can gather data from various sources and compile them into one single report. This means that with all your statistics and data stored in one place, they can be retrieved almost instantly.
In short, this means that you will no longer need to make a decision based on limited amount of data.
Increase Your Data Quality
By converting data into a single source, your data warehouse can ensure that you get more accurate and consistent data. Additionally, your data warehouse will quickly point out inconsistencies in your data and suggest corrections when appropriate.
This will lead to a higher confidence in the accuracy of your data.
Instant Access
The world of business is a fast-paced world, and it’s the ability to make good decisions fast that can seriously set you apart from your competitors. Luckily, your data warehouse gives you instant access to vital information, saving you precious time on retrieving data from various sources and software.
Historical Data Intelligence
Historical data can be of vital importance, and that’s exactly why your data warehouse will store a significant amount of it in its system. With your historical data within easy reach, you can quickly analyse different time periods and trends in order to make better business decisions today.
Increased ROI
Accurate data and faster decision making can lead to more return on investment and more money saved — and especially compared to competition without any data warehouse solutions in place. Investing in a data warehouse should therefore be imperative for those who wish to maximize their profits and increase their ROI in 2018.
In conclusion, implementing a data warehouse can bring a multitude of benefits to your organisation. Can you afford to ignore it?
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