Have you ever wondered how data has been produced in a day? The number itself will keep you pondering- it's 2.5 quintillion bytes of data. The next question that arises is do companies really utilize this much huge data? Surprisingly, only 0.5% of the data has been utilized by the companies and the rest of the data is just there, scattered around. Even though the trend is data-driven, companies willing to use the raw data also can’t.
To make the huge volume of raw data in the usable and insights derivable form, it needs to be stored, cleaned, processed and analyzed further. The lack of data storage systems is the first problem to be resolved. The old storage systems couldn’t handle the huge amount of data. Data Warehousing services is the answer for all the storage related issues.
What does Data Warehousing Mean?
A Data Warehouse is a storage facility that stores present as well as historical data and processes and analyzes the data to get meaningful insight for the companies to work on. The data warehouse can be expanded easily; it can be either be in the form of inhouse or cloud storage. The data warehouse can provide a large view of the data based on its past and present data.
Are there a variety of Data Warehouses available? Yes, let’s see how to choose the right one for your business, along with its benefits.
Benefits of having a Data Warehouse:
Data Warehouses store and analyze the raw data in the same format, making data analytics easier and helping in transforming and streamlining businesses.
By structuring data in a single format, human errors are minimized, and insights can be found easily.
With data analytics in place, there is no need to monitor the data patterns, which leads to a decrease in implementation time.
Appointing a data warehousing company will provide you with necessary information from day 1 of the business as the whole historical data is warehoused.
Various departments and teams can benefit from the obtained information.
Choosing the Right Data Warehouse for your Organization:
Confused about which option to choose amongst the available different types of data warehouses or data warehouse provider companies It is advised to first understand the business requirements and objectives for the best output. Data Analytics Consulting Companies can be helpful in such a case.
First, understand your business system and connect with your data administrator to understand which type of data warehouse will best suit your business and if it can be integrated properly.
Data Warehouses are designed in such a manner that they can suit different SMEs across varied types of industries. But it's mandatory to ensure the data retrieval speed, the speed of the data storage, and the flexibility it offers. Discuss these factors with the data warehousing service provider.
While considering cloud data storage, which means not opting for an in-house data warehouse, it is advised to check the billing part as it varies from the short term to the long term.
Understand your business’ security requirements, as each type of data warehouse provides a different level of encryption and security. Talk to your data service provider.
Wrapping Up
Analyse your business requirements so that you can transform the operations with the help of stored data. Choose a model that best fits your requirements, budget and is possible to integrate into the existing system. Approach a data warehousing company for more details.