The implementation of data warehousing could help many companies to avoid challenges that are too unnecessary to spend much effort into considering that this is an era of intense corporate competition, it would not be sufficient to take decisions on your own.
It should always be taken on time because time is running and the last thing you will know if your competitors are getting ahead of you in this race to supremacy.
To put it simply, if you would assume that a supermarket chain has not implemented or has not applied any data warehousing application or software into its system will find it very difficult to analyze the statistics of its products that are sold, the ones that are ignored, and the numbers and figures of its sales, and also, the statistics of its customers and patrons that purchase a particular product and other queries connected to it.
This is the initial step in attracting the challenges because there should be a decision to be made as to whether a particular product hits its quota or not, so it should be analyzed about its selling value how it subsided and soared, and some steps that have to be taken to further analyze the different aspects and issues surrounding this the product that would eventually affect everything like a domino effect.
When it comes to the strategic value given to a company, data warehousing is very good at procurement because every company procures certain products from a supplier like electronic products, and before making any purchase, the company have to contact the supplier in order to negotiate about the price and also to inquire about the terms that are possible to be reached.
So how sure is the company about the supplier to adhere to the terms of the contract that was agreed upon? After the purchase has been made, the supplier should provide an invoice as a requirement. If the invoice tells that there is a discount that has not been given as what has been agreed on the contract, this does not match the terms of it.
Which is why the main reason for a company or business to obtain and use data warehousing is to get a strategic edge and to create smarter decisions.
The advantages of having a data warehousing of a company is that it enables them to have an increased market share, pointing out the product that has not been selling very well, which agents need help when it comes to selling policies, to determine the quality of the customer service that must be provided, and the improvements that are needed to be taken.
Data warehousing is crucial for a company or business because of its effects on the quality of the customer service provided and the advantages it gives to a company by standardizing the data across its entire system, creating smarter decisions for companies while moving towards fact-based decision making, reduction of costs, dropping products that are not doing very well, and of course the improved and increasing the revenue of a company because of the high selling products.