Throughout time, the process of storing and analyzing data has been an essential part of business practice. Technology has made this significantly easier, quicker, and time-variant. In the mid 1990s, Data Warehousing strategy was introduced that enhanced the size of data any enterprise could store for a company.
Data warehousing consists of subject-oriented data that is structured comprehensively to conduct analysis and make decisions accordingly. This practice assists in resolving various business issues regarding marketing segmentation, technical infrastructure, financial management, and issues related to sales departments by means of business intelligence tools. Such tools transcribe raw data into informative sections of knowledge, which further leads to decision and strategy making processes.
In this way, data warehousing collects data from all segments of an organization and makes it simpler by presenting the raw data in a simplified format. This means that data warehousing collects data from multiple sources, but then integrates it into a single and common format. All the information throughout the data warehouse is consistent. Members of business and related staff have complete faith in the data quality and accuracy.
For the above-mentioned reasons, data warehousing is proclaimed the most efficient way of getting a vivid picture of an organization’s operations, sales, and customers. The increased efficiency is a result of not only custom software that is specially designed for individual firms, but also because of the time-variant nature of data warehousing. Time for producing and operating the data is saved, thereby simplifying the process of decision making as well. Furthermore, new types of analyses can be conducted and reported within a limited time frame. Data warehousing also makes the process of sharing data across different enterprise levels easier and accessible.
Additionally, one of the strategies of data warehousing is to augment the functionality of operational systems of an organization by resolving various finance disruption. It greatly reduces the cost of accessing historical data. However, the software for data warehousing can be expensive and sometimes even exorbitant in terms of maintenance. It provides manifold advantages to various enterprises, but high prices have until recently prevented smaller sized companies from taping into its benefits.
Our company, BP Analytics, has made a name for itself in this competitive market. Our forte is unmatched experience and understanding of data modeling methodologies that fit each client’s requirements perfectly, combined with significantly reduced costs due in part to the ability to getting things done right…first time.
For more information take a look at www.bpanalytics.com