11 Benefits of Using a Data Warehouse
Has your business bought into the value of using a data warehouse? As technology becomes increasingly advanced, the options and opportunities for analyzing and processing business intelligence (BI) multiply. If your business isn’t harnessing tools to report and analyze your BI, you are losing out on a key competitive advantage in your market.
Let UPS Healthcare share 11 benefits of using a data warehouse today.
Data Warehouse Defined: At the outset, it is important to understand what a data warehouse is. The essence of a data warehouse is that it creates a permanent storage space for data needed to support reporting, analysis, and other BI functions.
Data is extracted periodically from your ERP and other applications and housed on one server. As your data is moved, the warehouse does 6 key processes with your data:
- Cleans
- Formats
- Validates
- Organizes
- Summarizes
- Supplements
What Benefits does a Data Warehouse Provide for you?
- Congregates Data: Data from multiple sources can now be collected in one database to allow you to query them for easy data presentation.
- Speeds up Analysis Queries: When running large, long-running transaction processing queries, data warehousing mitigates the problem of database isolation level lock contention.
- Maintains Data History: Even though your transaction system might not do this for you, the data warehouse does.
- Integrates Data from Multiple Source Systems: If your facility has grown by a merger, this benefit seems even more precious. Even if not, viewing all your data in one place in real time is a valuable benefit.
- Increases Data Quality: How would you like to have your data flagged and even fixed if it is bad? Data warehouses do this and provide consistent codes and descriptions, enabling your data to be more consistent and accurate.
- Presents Data Consistently: Minor inconsistencies within your organizations data can fuel mistrust or just make your medical facility seem less professional. Data warehousing keeps the presentation consistent.
- Provides Security: Those who have a legitimate need to access specific data can be provided secure access, while those who don’t can be excluded.
- Restructures Data for Business-Minded Users: Data, while easy to understand for those analyzing it all day, has a greater impact on medical executives when it is organized to match what they are looking for.
- Restructures Data for Queries: Reorganizing the data can increase query performance, especially when the queries are complex.
- Makes Query Writing Easier: Having all the data from multiple sources accessible in one location expedites query writing.
- Facilitates Data Mining: This allows you to find hidden patterns in your data. This takes a data warehouse beyond what reporting tools can do. These tell you where you have been, but data mining tells you where you are going.
Increase Your Efficiency. All of this takes you one step closer to easier, faster, safer access to your data. It allows you to have quality, accurate data in your summaries, dashboards, and reports. You can mine your data more easily.
Let UPS Healthcare help you connect you so that you can set up a data warehouse that can tighten up your efficiency and lead to increased revenue.