The concept of warehousing has been around for a while. It essentially involved powering a decision support system to allow businesses to make better decisions. It involves transferring and pulling data from various sources. The amount of data generated by businesses has increased exponentially, and it is vital for businesses to analyze the data prior to making important business decisions.

Data warehousing is essentially making available data that is stored electronically for business-critical queries, reporting, and analysis. Data stored here is extracted from various sources to allow businesses to gain the upper edge by making better business decisions. 

Important Facts & Statistics 

  • It makes it possible to gather data, use it, analyze it and make important business decisions.
  • Businesses can fine-tune their production strategy based on reports generated from such data.
  • A data warehouse is also useful for analyzing customer behavior and providing them with more personalized service.
  • It is useful for building better relations with customers and for effective PR campaigns.
  • Databases and data warehouses are similar; however, a database stores data on a small scale which is usually for transactions. On the other hand, a data warehouse is useful for collecting data on a large, very large scale for the purpose of performing analysis. 
  • A data warehouse is not a database since, unlike a database, it is meant to handle a wide range of tasks.
  • It stores extensive data in a well-organized format to allow one to perform several operations on it.
  • A data warehouse consists of data from various sources like point-of-sales, mailing lists, websites, customer details, etc.
  • Data mining is a technique that involves searching for meaningful data patterns in vast volumes of data.
  • There are several useful data warehousing tools like query & reporting tools, application development tools, data mining tools, QLAP tools, etc. 
  • Data warehouse architecture is typically either single-tier, two-tier or three-tier architecture.
  • This is the ideal method of generating reports or information about a specific subject rather than a vague report on various topics or the entire company.
  • The global data warehousing market is expected to get to $30 billion by 2025.
  • Data warehouse techniques are increasing in popularity with more business intelligence tools implementing them.
  • The data warehousing market size is expected to grow at a rate of 12% CAGR during the period between 2019 – 2025. 
  • 47% of IT professionals prefer implementing data warehousing using cloud computing. 
  • The data warehouse market in 2019 was over $13 Billion; this is expected to rise to over $30 billion by 2025.
  • Businesses tend to use a combination of a database, data lake, and data warehouse for the purpose of analyzing the data. 
  • It consists of consolidated data from various sources, making it ideal for businesses for the purpose of informed decision-making. 

Benefits of Data warehousing For Your Business

  • Almost all firms use business intelligence tools; by implementing a data warehouse, one can enhance the outcome of this tool.
  • The amount of data collected by businesses is on the rise, making it difficult and time-consuming to analyze. This is one of the best techniques to perform analysis on data from various platforms without spending a great deal of time. 
  • One can be sure that the data or reports generated in this method are consistent and of high quality. 
  • It is the best source for historical data to make better and more informed business decisions. 
  • It is simpler to increase your ROI with business intelligence tools based on data warehouses and gain an upper edge over competitors.
  • It is more flexible, simple, and also more cost-effective. It also ensures faster and more consistent solutions. 

Contact the professionals to build better business intelligence tools, like Divwy Technologies. We offer a wide range of services and have a great deal of experience doing so. 

Summary

Data warehousing allows firms to build smart solutions and make smart business decisions. It is both cost-effective and fast, besides which several surveys suggest an increased dependence on this technique which is only going to grow in the future.

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