Do You Need a Data Warehouse?

The amount of data generated by companies is increasing at an exponential rate. Many small and medium companies find themselves struggling with the growth of data. They are also finding it challenging to leverage the large quantity of data to make better business decisions. If your business is unable to cope with the data challenges, a data warehouse may be suitable for you.

A data warehouse is a system of data analysis and reporting. It integrates data from different sources to a centralized location. Here are some common signs that reveal your business is prepared for implementing a data warehouse.

Heavy Reliance on Spreadsheets

Spreadsheets are used by just about every business. However, the problem occurs when spreadsheets grow to immense sizes, and it becomes difficult to manage them properly. If you are finding it hard to manage your data because it is scattered across several spreadsheets, a data warehouse may be suitable for you.

There Is Too Much Waiting Time

If you need to analyze your colleagues’ data to prepare a report, you may have to wait longer than you expected. It is inefficient for the business and frustrating for employees to wait for information. Setting up a data warehouse can centralize data, making it available to the entire team in an effective manner.

Data Errors

There are many instances in which team members from different departments have different data figures and findings. It can take a lot of time to sort out such discrepancies. A data warehouse can effectively resolve these problems.