Give your Business Data a Purpose and Act on it
What is a Data Warehouse?
A data warehouse is a large storage of data accumulated from a wide range of sources. This is used within a company to guide management decisions. Many small and medium-sized businesses (SMBs) already collect massive amounts of data. The next step is to move that data into a data warehouse and develop analytics so you can act on it to grow your business.
How is a Data Warehouse Different from a Data Lake or Database?
Data warehouses, data lakes and databases can all sound the same, but they’re different in important ways. Data lakes are large collections of raw data with no defined purpose. Warehouses are structured, filtered and processed for specific purposes. Small and medium-sized businesses (SMBs) need data warehouses to organize their data. This allows them to make sense of it and use analytics to support a more effective business strategy.
The Benefits of Data Warehouses for SMBs
1. Act on Quality Data
Using a data warehouse makes your business data useful and actionable. This is allowing businesses to draw conclusions about the effectiveness of your business, backed by numbers that are organized and understandable.
2. Enhance Business Intelligence
Data warehouses are taking data from any source and using it to create processes to optimize your business data analytics. This allows for a more refined business strategy and improves business intelligence.
3. Boost ROI
Data warehouses empower SMBs to increase overall ROI. As you collect and organize more business data, your business strategy improves with definitive data. Data warehouses can affirm the efficiency of your strategy. The more that businesses operationalize their data with data warehouses, the higher the ROI.
4. Provide Historical Insight
SMBs need large and accurate amounts of data. This allows them to make informed decisions about sales, inventory, intellectual property records, personnel and more. Vast historical data within a data warehouse can help SMBs track the sales of key products over time. They can also list KPIs and trends that contextualize historical data.
5. Increase Efficiency
Data warehouses are a one-stop shop for business users to find all of their data, minimizing the time needed to begin analyzing and acting on data. SMBs are busy, data warehouses make it easy to pull reports quickly with correctly formatted and readily available business data.
Setting You Up with the Right Data Warehouse
We understand that owners of SMBs are always busy and wear a lot of hats. We meet clients where they are with their understanding and use of data. Then we create a plan for collecting data that can easily fit into their day-to-day operations. Parallel Analytica recommends Snowflake as a preferred cloud data warehouse for SMBs but we are able to accommodate other cloud data warehouse providers.
We know data is the future and we’re ready to listen to clients, address their problems and find the exact solutions that will help them to take control of their data. Parallel Analytica can help you to identify and operationalize the data warehouses that are best for your unique business strategy.
Schedule a consultation today to find out how Parallel Analytica can help your organization unlock insights using your own data.
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