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Today many large companies generate a lot of data in many places, within the country and other parts of the world. Success of business depend upon the effective use of that data. Data warehousing systems have arisen as one of the major technological methods to the development of profitable corporate organizations.
Benefits of Data Warehousing
There are some benefits after successful implementing data warehouse.
- Potential high returns on investment
No doubt, implementation of data warehouse solutions require huge investment but according to the study of International Data Corporation ROI receive within average 3 year.
- Competitive advantage
After successful implementation of data warehouse companies get the huge return of investment and competitive advantage. This allow decision makers to access the hidden information and utilize it in the best way to make better decision for the success of business. These hidden information include customers, trends, and demands.
- Increased productivity of corporate decision-makers
Data warehouse solutions assist decisions makers to make perfect decisions for the success of business. It improve the productivity of decision makers by providing the one view of the organization which include all information. These services allow managers to perform the detail analysis.
- More cost-effective decision-making
Data warehouse solutions help to reduce the number of channels which result in the reduction of overall cost of the product.
- Better enterprise intelligence.
Data warehouse solutions offer best enterprise intelligence. It help to increase customer service.
Data warehouse solutions need to understand:
- Which are lowest higher margin customer?
- Who are my customers and what products are they buying.
- Which customers are most likely to go to use competition?
- What impact will new products have a revenue and margins?
- What products promotions have the biggest impact on revenue?
- What is the most effective distribution channel?