Data Warehouse For Business Intelligence
The data your business collects from third-party sources is one of your most valuable assets and has made it possible to change the way that business is done the world over. With access to the right data, you can make business decisions that are rooted in real customer behavior and fact-driven expectations.
However, raw data is typically quite opaque and most people simply do not have the foundational knowledge to parse it on its own. That’s where business intelligence (BI) tools come into play, but what is a business intelligence tool?
A reliable business intelligence tool allows you to create visualizations from your raw data so that you can see what all the numbers actually mean at a glance and make your data-driven business decisions from there. Trying by hand to turn raw data into the kind of visualizations a BI tool can provide can take an incredible number of hours that can be better spent elsewhere.
Data Warehouse Integration
The unprecedented volume of data that businesses are collecting today is the result of using many, many different tools that each collect specific data points. For instance, if you are engaged in email marketing you are probably collecting data about open rates and click throughs. If you’re spending on google ads or social media advertising, you have clicks and impressions to track, not to mention costs.
Where a BI tool can turn all that data into compelling visualizations, it has to get access to the data first, which is why your data warehouse and business intelligence tools go hand in hand. As an introduction to data warehousing and business intelligence, a data warehouse can help you collect clean data from a huge range of sources and make it ready for your BI tool to parse. A tool like the Snowflake data warehouse can query data from many different sources and combine it all in a way that makes it easy to load into your BI tool and ultimately easier to analyze. Because a data warehouse keeps all data – current and historical, from every tool and every physical location – centralized, it becomes critical in data-driven decision making.
Why Do Businesses Need A Business Intelligence Strategy
Business intelligence tools can be quite powerful and help you gain insights into many different aspects of your business. But like so many other pieces of software, you can only get out of a BI tool what you put into it. A business intelligence framework or business intelligence strategy is vital if you hope to understand and fully leverage your company’s data.
One place to start with a business intelligence strategy is by investing time and effort into your business intelligence architecture and its components.
So what is business intelligence architecture?
Business intelligence architecture is a foundational piece of your business intelligence strategy that provides a blueprint for how your company will collect, analyze, and leverage data. From a holistic view, business intelligence architecture typically includes:
A comprehensive understanding of your data sources: which data sources do you want to use? Are they already in place or are you planning to invest in new tools?
A strategy for collecting and verifying your data: where are your data sources currently storing your data? Do you need or want access to historical data from these sources? Is the data you’re collecting clean?
A data warehouse or other data storage plan: how can you ensure that data from multiple sources is accurate and able to be compared?
A BI tool or other plan for data analysis: how will you visualize and analyze your collected data?
A plan for data governance: how is data used, stored, organized, and disposed of?
While not every business will have a data intelligence architecture that looks exactly the same, these components are universal. By working through each one and making informed decisions about the tools and processes you will use, you can avoid a lot of wasted time and expense.
You can build out a comprehensive business intelligence strategy based on solid business intelligence architecture. As the different components start to come together, you will be able to see where you need to spend more time and attention. The complexity of putting together this kind of architecture should make it clear why businesses need a business intelligence strategy: there are simply many moving parts that each require planning to get right.
How to Choose a Data Warehouse for Business Intelligence
As you construct and refine your business intelligence strategy, you will want to have a reliable data warehouse in place sooner rather than later. The earlier you can start collecting clean, usable data and turning it into actionable insights, the better off you will be in the long term.
Setting up each piece of your business intelligence architecture separately can be quite costly, both in terms of capital and in hours. That’s why Mozart Data offers its customers a modern data stack that simplifies the business intelligence architecture process. Connecting your data sources to the Mozart Data stack allows you to have a centralized space to scrub, transform, and organize your data before syncing it with your BI tool. Mozart Data has partnered with Snowflake as our data warehouse provider since we know Snowflake is secure, flexible, and easy to use.
Contact us to learn more and schedule a demo.