Cloud Data Warehouse: Key Advantages
Today we’re witnessing that data-driven decisions are everywhere. In the modern context, customers don’t choose fancy restaurants or insurance providers without research. Based on the reviews, ratings, and views on social media, it becomes easy to decide what they feel good about. One of the more sought-after technology-driven solutions is a cloud data warehouse. But precisely what is it? It is a database in the form of a managed service and the cloud instead of on-premises.
Next-gen businesses rely on this data. It is helpful in nearly every aspect of a company — sales, marketing, product development, delivery, and support. And, while it is already hard enough to harvest the abundance of customer data, storage to a secure, balanced platform is an even more significant challenge.
Today, cloud data warehouses can support you in accomplishing this feat, among many others. And, considering the several benefits you’ll read below, it’s no wonder that businesses across the globe are moving to cloud data warehouses. To help you better understand why cloud data warehouses are so much in demand among companies, allow me to offer you a closer look at some of their key advantages:
- Reduced costs: Conventional data warehouses are associated with plenty of overheads, including hardware, real estate for safe placement of hardware, teams for management of the hardware, and so much more. With cloud data warehouses, companies do not have to worry about these costs.
- Better and quicker insights: Cloud data warehouses are engineered to offer companies high-grade computing abilities and provide real-time analytics via data collated from different sources, albeit much faster than the pace possible with an on-premise data warehouse. And this is how businesses can quickly access insights with cloud data warehouses.
- Scalability: Since cloud-based data warehouses include real-time data storage with virtually no upper limit on capacity, it becomes pretty simple for companies to scale their businesses as and when the need arises. Yet another benefit of cloud data warehousing is that companies are not required to purchase hardware to make way for their scalability requirements.
Finally, some of the primary uses for a cloud data warehouse:
- Data consolidation: One of the most sought-after uses of cloud data warehouses is data consolidation. That means that such solutions allow data to be gathered from various data sources, including point of sale systems, websites, and emails across a given business’ operations and consolidate them into one place to facilitate data analysis to glean insights.
- Real-time decisions: Modern cloud data warehouses use an architecture conducive to real-time data analysis. As a result, companies can adopt a proactive approach to finding opportunities, dealing with possible challenges, cost reduction scope, improving operational efficiency, etc.
- Machine learning and AI integration: Provided you have a robust cloud data strategy, you will be able to gather all sorts of data, including real-time data and historical data, which can then be leveraged to develop artificial intelligence and machine learning algorithms that can, in turn, deliver actionable predictive insights such as relevant products to tend to market demand, expected traffic spikes, etc.
That covers some of the essential basics of a cloud-based data warehouse to elucidate precisely why it has become such a massive hit in this digitally-keen market. As more and more aspects of running a business become reliant on, if not wholly dependent on, the digital realm, cloud data warehouses have empowered companies to not merely keep up with the continually evolving demands of the market but stay ahead of the curve. Besides the benefits above, cloud data warehouses help companies better serve their customers, and achieve advanced operational efficiencies,. So, what are you waiting for? Go ahead and start looking for trusted data warehouse consulting services so you can fortify your operations with this powerful technology.