Top 5 benefits of a Data Warehouse Data warehousing is a specific element in warehouse management that deals in the collection, storage and use of data. It is a technology which is used in the business environment to optimise the collected data of an organisation in order to improve performance. It takes very broad business data, and compresses it into usable, long range figures and analysed data aggregation. To sum up the basic meaning of data warehousing, it is a system that inputs large amounts of data and outputs information used for operational and analytical purposes.
Database VS. Data Warehouse?
A database holds vast amounts of data that can be changed, updated and sourced for use. These databases are constantly updated in order to produce the most accurate information as of the current date. A data warehouse can actually utilise information from different databases, however cannot and should not be changed over time. This is because the information provided by a data warehouse showcases the gradual change of data over-time, showcasing a progression from historical data through to the present data. These are vital to a company for the analysis of data, rather than the up to date storage of data.
Characteristics of a Data Warehouse
Organised by subjects
A data warehouse can organise information into different departments, subjects or ideas. For example, one category of a data warehouse could be “transport costs” while another could be “total monthly sales”. The specifications of this depend entirely on your business needs.
The data is represented over a period of time pertaining to the company’s individual needs. This means that historical data is kept and utilised along with new data.
The entire output of the data warehousing process is combined in an integrated system. This allows for the overall picture of the information to be understood alongside the specifics.
Not subject to change
The historical data within a warehouse is not meant to be altered in any way or form.
Why is having a data warehouse important?
Good data warehousing software can allow companies to understand more about the various changes in their organisation and can help them grow more effectively. Here are 5 reasons why your business should consider having a data warehouse.
Increase your business intelligence
Your BI is vital to the growth and survival of any company. Data Warehousing allows you to make informed decisions based on accurate data readings, instead of simple guesses. The data is restructured in a means that makes it easier to interpret and understand, for quicker, more informed decision making.
Improve your data quality
By combining a variety of sources of information, into one consistent data language, the information produced by a data warehouse will help your business improve the quality of its data outputs. Data storage is improved with the use of constant codes and descriptions which better outline the ideas the data falls within.
See the past to better predict the future
By utilising historical data, your business can use the past as a reference for change or example in the future. Data is maintained in the system, allowing reference to data that transactional systems will not have. This way, faults and mistakes from the past can be avoided, and success can be repeated.
Save your business endless hours of valuable time
One single source of the company’s data will save you or your employee’s time in avoiding the process of searching for information in multiple areas. Information of all kinds can be sourced quickly, efficiently and easily.
Aid your bottom line
When you save time, you inherently save money. The investment in a data warehouse will see great return, and is an option a big company cannot afford to miss.
Efficient data management in a warehouse is crucial. Therefore, Dovetail also offers data management software, such as eDocs, eBusiness and eXpressLink, which can assist warehouses in organising, securing and optimising data, and easily integrates with the HighJump warehouse software system. This will greatly reduce the time spent on data management and increase warehouse management and efficiencies.