Data warehousing concepts are used to design, create and manage a data warehouse that provides a centralized company database. Data warehouses were first developed in the late 80's and early 90's as a response to the need for business analysis that could not be effectively met by current operational database systems. To meet this need, the process of the recording, collecting, filtering and loading of data into a database was revised, streamlined and customized to support analysis and decision-making. This serves to differentiate these data repositories from the regular transactional systems that are central to operations.
Benefits and Rewards
Because an efficient database need to be both customized to meet a specific need and flexible enough to handle desparate and changing data, database design can be complicated. The rewards for successfully putting together and running a good database far outweighs the challenges though. Some of these benefits include the following:
Providing a standardized data format for different data sources and interest areas, which will not only streamline analysis and reporting but also make the data reusable for different departments, interest groups and levels
Allowing for more user control over data paving the way for necessary purges and safer storage
Faster data retrieval that does not impede or slow down operations
streamlines data processing for performance assessment, trend analysis and forecasting reports
strengthens and speeds up decision making processes for both core business operations and customer relationship management
In essence, data warehousing solutions are meant to enhance data collection and integration to enable accurate and timely reporting. Since good design translates to improved information handling and management, it supports quick, efficient and informed business analysis and decision-making, which are essential to staying competitive and profitable. With such clear benefits to data warehousing, companies should commit resources and develop a strong enterprise vision to ensuring that a workable data warehouse is put into place and maintained.
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