The Best Applications of Data Warehousing
Table of Contents
- What is a Data Warehouse?
- The best applications of Data Warehousing
- How does DataChannel Work with Warehouses?
The data warehousing concept is not new to the business world, where every decision the organizations make is based on data. However, the applications of data warehousing are constantly entering new domains, and additional innovative ways are continually being established to leverage this path breaking technology. Being able to effectively utilize data warehousing technology helps business managers land on better decisions through strategic planning and surpass their competitors in the long run.
Data warehouses structure your raw data, set a solid foundation for data storage, and provide the foundation for actionable insights. Is your business also looking for ways to accelerate the pace of data integration processes, analysis, and reporting, implementing a cloud-based data warehousing solution will help. DataChannel is one such effective and reliable solution at a reasonable cost. With an effective data warehouse, you get the power to consolidate all your data strewn over different source systems and platforms into a single place for effective reporting and analysis. According to Allied Marketing Research the global data warehousing market is projected to grow at over 10% CAGR to reach up to $51.18 Billion by 2028.
But before we discuss “the best applications of data warehousing,” let’s first revise the definition of a data warehouse.
What is a Data Warehouse?
A data warehouse is a type of data management system which works as a central repository of information designed to store enormous amounts of data aggregated from several different sources for reporting and analysis purposes. It helps with the report creation that assists business managers in dealing with complex queries that come in between making critical business decisions. With an effectively functional data warehouse, supported with the ETL best practices, it becomes way easier for organizations to get hold of all their business data to ensure the growth and success of their businesses.
Data flows into a data warehouse from transactional systems, relational databases, and other sources, typically on regular predetermined intervals. Business analysts, data engineers, data scientists, and decision makers then access the data through business intelligence (BI) tools, SQL clients, and other analytics applications. ETL processes are typically employed to move data to a data warehouse and several ETL tools are available to guarantee reliable and secure data movement.
The best applications of Data Warehousing
Every organization, no matter in what industry it works in or how big or small it is, requires a data warehouse to connect its disparate sources for anticipating, analysis, reporting, business intelligence, and facilitating robust decision-making. These services are also required at a reasonable cost and optimal value. Here, we are listing down the best applications of data warehousing across different industries.
- E-commerce: E-commerce platforms need to gather key marketing metrics (such as clicks, impressions, website visitors, etc.) from marketing tools and use that to approach their customers in a better way. This is where data warehouses help. Replicating data, tracking & visualizing KPIs such as conversion rates, churn rates, and return on ad spends, safe storage, etc. help companies perform better. In recent times, amazon redshift is the most popular warehouse being used for marketing analytics, because of its user-friendly UI and flexibility.
- Retail: Data warehouses can be used by retailers to easily identify products with high demand and the fastest selling demand. The data can then be used to react to a rise or fall in consumer demand quickly, which can ultimately be used to gain a competitive advantage. Reverse ETL is a popular concept that leverages data from warehouses and helps target audiences better. They are the mediators between wholesalers and end customers, and that’s why it is necessary for them to maintain the records of both parties. For helping them store data in an organized manner, the application of data warehousing comes into the frame.
- AI/ML: With many companies embracing AI for their data journey, it’s critical to get a reliable data warehouse now. AI enables data maturity, which is intertwined with the flexibility, scalability, and agility that a warehouse offers. On the other hand, machine learning is used on the data after the data has been replicated and transformed in the warehouse, to help newer business models emerge and advance digital disruption.
- Agritech: Data storage is a must when it comes to the new age of farming. Data related to crop yield, weather conditions, pesticides, crop inventory and so much more demands a data warehouse. With advanced analytics, engineers and business analysts are able to figure out inefficiencies in the ecosystem, such as problems in the soil quality, unnecessary use of pesticides, etc. and iron them out.
- Sustainability and climate action: Climate data requires a versatile data infrastructure, with cloud-first models for warehouses. To bring out sustainability insights, the data architecture must be able to integrate raw data from multiple sources and make it easy for end-users for making predictions and effective decisions related to climate change.
- Manufacturing & Supply chain: Being one of the industries involving a higher number of intermediaries, the supply chain industry needs data warehouses to limit the number of data silos and ultimately human error. Data warehouses can help in inventory management (which items are low in count and what is the cost of each step in the life cycle), all the data related to vendors, logistics (for example: timestamp data related to product delivery), and ultimately serving the customer better.
- Healthcare: With constant advancement in healthcare, the data captured by machines is huge. To digitally improve hospital infrastructure, reduce wait time, and make processes more efficient, data warehouses are making data work constantly in this field. Getting personalized healthcare can be possible with a single platform (such as having one place for all diagnostics, tests, prescriptions, and follow-ups). All the clinical, financial, and employee data are stored in the warehouse, and analysis is run to derive valuable insights to strategize resources in the best way possible.
- Banking & Finance: Data security is critical for the BFSI sector, and data warehouses solve that problem by vouching for industry-standard security compliances. The warehouses can be used to get updates about customer deposits, loans, funds, deposits, etc., and a better understanding of the performance of different branches. The right solution helps the financing industry analyze customer expenses that enable them to outline better strategies to maximize profits at both ends.
- Financial Auditing: With access to real-time financial data, warehouses ensure decisions related to the business’s current financial performance can be reached quickly. Data warehouses enable the collection of data on a daily basis and information can then be regularly used to identify any discrepancies in financial reporting & audits.
- Pharmaceuticals: As data warehouses make data more accessible, it’s now being used for making better strategic decisions and identifying & developing customer buying trends in pharmaceuticals. This results in better customer targeting, pre-call analysis as well as post-call assessments, helping the pharma industry at scale.
How does DataChannel Work with Warehouses?
Well, to be honest, we believe in finding solutions that help our partners in the long term and can adapt to evolving changes in the system. DataChannel is the most advanced ETL & Reverse ETL tool which not only follows all the ETL best practices listed above but also ensures you never have to worry about any of these challenges again. Through the easy-to-use web interface you can use its 100+ pre-built integrations to set up your data warehouse and populate it with the data you need in minutes for free. Building a data warehouse from scratch is a tedious task, and that’s why we offer a platform that helps you put your data in industry-grade warehouses, manage the data flow all customized to your requirements. Here are some benefits our platform offers:
DataChannel is the most advanced ETL & Reverse ETL tool which not only follows all the ETL best practices listed above but also ensures you never have to worry about any of these challenges again. Through the easy to use web interface you can use its 100+ pre-built integrations to set up your data warehouse and populate it with the data you need in minutes for free.
Some of the features of DataChannel which make these possible are listed below. Visit this link to learn more or click here to experience the product for free.
- Managed Data Warehouse. While the cloud data warehouses offer immense flexibility and opportunity, managing them can be a hassle without the right team and resources. If you do not want the trouble of managing them in-house, use our managed warehouse offering and get started today. Whenever you feel you are ready to do it in-house, simply configure your own warehouse and direct pipelines to it.
- 100+ Data Sources. DataChannel’s ever expanding list of supported data sources includes all popular advertising, marketing, CRM, financial, eCommerce platforms and apps along with support for ad-hoc files, google sheets, cloud storages, relational databases and ingestion of real time data using webhooks. If we do not have the integration you need, reach out to our team and we will build it for you for free.
- Powerful scheduling and orchestration features with granular control over scheduling down to the exact minute.
- Granular control over what data to move. Unlike most tools which are highly opinionated and dictate what data they would move, we allow you the ability to choose down to field level what data you need. If you need to add another dimension or metric down the line, our easy to use UI lets you do that in a single click without any breaking changes to your downstream process.
- Extensive Logging, fault tolerance and automated recovery allows for dependable and reliable pipelines. If we are unable to recover, the extensive notifications will alert you via slack, app and email for taking appropriate action.
- Built to scale at an affordable cost. Our systems are built to handle billions of rows of data and will scale with your business when you need them to, while allowing you to only pay for what you use today.
- Get started in minutes. Get started in minutes with our self-serve UI or with the help of our on-boarding experts who can guide you through the process.
- Activate your data with Reverse ETL. Be future ready and don’t let your data sit idle in the data warehouse or stay limited to your BI dashboards. The unidimensional approach towards data management is now undergoing a paradigm change. Instead use DataChannel’s reverse ETL offering to send data to the tools your business teams use every day. Set up alerts & notifications on top of your data warehouse and sync customer data across all platforms converting your data warehouse into a powerful CDP (Customer Data Platform). You can even preview the data without ever leaving the platform.