Breaking the Enterprise Data Warehouse
Dream big. Start small. Begin your data journey to high-end business intelligence with ease.
The concept of an Enterprise Data Warehouse or Corporate Repository is no longer the future of data and analytics strategy. It is, in fact, the need of the hour and considered a crucial facet of organizational intelligence.
Essentially a repository of all corporate data from various components of the company, Data Warehouses are complex setups that facilitate better strategic decision making. By enabling the discovery of business insights and patterns within multiple sets of correlated data, top-level managers are better equipped with the right evidence to support necessary changes that could improve an operation holistically.
For instance, a service-oriented organisation like an insurance company gathers various sets of data from potential inquiries to details of after-sales service and from satisfaction surveys to customer demographics. Often these elements remain within their relevant departments and aren’t collectively factored into the analysis and planning processes of companies. The result could be potentially harmful when trying to improve the performance and bottom line in the present volatile market context.
Some questions to consider when moving forward in your data journey: How can a business combine silos of existing data to get the best insights? What options are available for you to find a disruptive market pattern you haven’t noticed with your data as yet? Can everyone invest in an Enterprise Data Warehouse at the onset or are other, low-cost options available to you?
Being able to justify the large investment of setting up complex infrastructure across a firm’s entire operational chain is not an easy task for a CIO, especially when the real results won’t be visible in the short term. This is where the concept of a Data Mart can circumvent your larger need and become a crucial first step of a larger implementation.
While a Data Warehouse collates and stores data from multiple sources within the company, a Data Mart houses data from a single area of the company or a few sources such as all service factors from customer service to after-sales service and so on. Technically, a Data Warehouse will contain several such Data Marts for complete data analytics where each mart enables subject or department oriented strategy. Thus, instead of being the central repository of all company data, the Data Mart will house subsets of information and in turn require fewer resources and a smaller investment to implement, making it a justifiable and simpler process to set up initially.
Once you set up and utilize the Data Mart to its full potential, you will be able to mine data to enable intelligent decision making that could fine-tune a production strategy, do better analysis of your customers or improve the business life cycle for specific areas in a manner that could show faster results and, in turn, support the decisionmaking process quicker than retrieving results from a larger Data Warehouse.
With today’s technological advancements, cloud services are available to you from all major service providers. Thus, one does not have to plan for long periods of time nor invest heavily in IT infrastructure as previously done. Starting small and paying as you grow and go, is today’s way forward. All service providers including Azure, Amazon, Oracle and others offer you attractive options with solutions like IaaS, PaaS and SaaS. If you don’t find value in these solutions, you can simply omit them from your systems with a single click and without having to incur any additional costs.
We highly recommend starting your data journey with a Data Mart based approach within organizations that don’t presently have a Data Warehouse built into the operation. This is the crucial and initial step to showcase better reporting and business intelligence within the firm to your management board. Once the results start to improve your business at micro levels, setting up more Data Marts and eventually amalgamating these elements into a larger Enterprise Data Warehouse becomes a logical and justifiable process, enabling a comprehensive and single source of truth to become an essential part of your business’s future.
Contact us today to talk to a Data Warehousing expert.