Rapid digitalization has contributed significantly to the exponential growth of created, captured, and consumed data. According to Statista, the global data sphere has expanded to 59 zettabytes in the year 2020. Given this immense growth, traditional data warehousing systems are insufficient for a modern enterprise and surfaces the need for data warehouse modernization.
Taking a step back, we see that data warehouse implementation has gained popularity throughout the globe. In fact, the size of the global data warehouse market is projected to reach a $30 billion valuation. Cloud-based or cloud data warehouses are gaining traction, offering the right architecture and capabilities to meet the demands of data volume and variety.
How are enterprises dealing with data at present?
Legacy data warehousing approaches such as enterprise data warehouses or traditional ETL systems have been the go-to solution. However, that was in the past. Today, conventional systems cannot meet the demands of ever-growing organizational data. IT, finance, operations, sales, and more parts of the business are asking for deeply insightful, actionable data intelligence to be derived.
These enormous volumes of data are attributable to a growing number of data sources. Due to the lack of a competent data storage unit, it is becoming increasingly difficult to manage this multi-source data. Unstructured, legacy data warehouses support low-to-no means of converting this data for analysis or visualization.
Some other limitations of legacy, traditional data warehouses include:
- Significant consummation of bandwidth
- No interactive data analysis
- Increased complexity due to higher interconnectivity of systems
- Development cycles take several months
In a typical IT environment, these limitations incur heavy losses to the organization. This is creating an increasingly urgent need to modernize the data architecture. Doing so will provide organizations with the right environment to manage large volumes of data at the necessary speed and enable data analysis, along with adequate visualization.
Where data strategy and data warehousing intersect
Smart data management is a responsibility held by leadership across the organization, starting with the CEO and other C-suite executives. However, even under strong leadership, most organizations fail to meet emerging business requirements. It’s nearly impossible to escape the impact of obsolete legacy data systems and a progressive ecosystem. Also, the addition of new data platforms can quickly add chaos to the stack. But with the inclusion of data warehouse modernization into your data strategy, you can reward your company with agility and flexibility.
Data warehouse modernization facilitates easy designing, deployment, and management of data across departments in an organization over a unified and automated data platform. Cloud computing, AI, and big data show promise in data governance. All this translates into improved utilization of data to yield.
When your data strategy intersects with data warehousing, it allows your business to make quality business decisions and align your business processes with the changing dynamics of the market. A unified data management platform will also enable quick compliance with industry regulations and standards, thus saving you some efforts and money on penalties. Additionally, you can readily leverage the latest tech innovations through modernization of data warehousing systems.
With these benefits as a given, data managers are turning to data for robust decision-making while ensuring a consistent implementation of data governance, policies, and standards. Also, this reduces the need for IT experts, offering them the opportunity to focus on what matters—technological breakthroughs to achieve business growth.
Why should you modernize your data warehouse?
When we speak of data warehouse modernization, we are referring to several certain solid advantages on an enterprise-wide scale. From enhanced quality of business intelligence to more rapid decision-making, the deployment of a modern data warehouse enables tangible business outcomes, including:
- Improved business intelligence to extract actionable insights
- Saved time spent collecting and organizing data
- Improved quality and consistency in data
- Streamlines information flow
Once businesses have this in place, they gain a competitive position in the market, can predict on future trends, and respond quickly to customer needs. You can get a more advanced look at data warehousing in our blog post here. In the meantime, let’s take a closer look at why your organization needs a modern data warehouse solution:
- A modern data warehouse is equipped with the functionality to integrate with your in-house infrastructure seamlessly. Both structured and unstructured data sources are typically compatible with most ERP, CMS, and other systems.
- Since a data warehouse can store data from multiple sources, you get a single source of truth.
- Modern date warehouse solutions give you scalable and secure storage capabilities for your data, and you can scale computational capacity up or down as needed.
Support and security
- Back-end support ensure that warehousing processes are facilitated adequately.
- It’s easier to enable secure access to authorized users, including business users.
- You get hands-on, more reliable, and real-time business intelligence through data analysis. Little-to-no IT support is necessary with such a system in place.
- The potential to allow new business data models increases with scalable data architecture.
- You unlock the monetary value of data assets by utilizing it up to its full potential.
Why is now the right time to modernize your company’s data warehouse?
Enterprises today require a modern architecture to store their data, driven by an intense need for agility and responsiveness when it comes to data management. Innovative organizations are already leveraging data warehouse modernization to meet these needs, systematically arranging data to convert it into valuable business intelligence and providing the company with a competitive advantage.
Nearly unlimited storage, on-demand computing, and integrated BI tools are the USPs of a cloud data warehouse. Since on-premises data storage is expensive, experts forecast the growth of cloud data warehousing solutions at roughly 15% by 2025. As innovation-oriented and forward-thinking organizations take off on their enterprise data warehouse modernization journey, they are set to relish a competitive edge over those companies sticking to the on-premises solutions.
Enough has been said about the modernization of data warehouses and migration to a cloud data warehouse. However, to successfully implement one, you require an experienced digital partner that can help you to rapidly, securely, and flexibly take your data warehouse to the cloud.
CloudMoyo Data Warehouse solutions
CloudMoyo data warehousing solutions provide businesses like yours the guidance and expertise to move your data warehouse to leading cloud platforms like Microsoft Azure and Snowflake Data Warehouse. We enable our partners to manage and exploit their data and support them throughout the data management lifecycle to uncover data insights in real-time with substantial operational cost-cutting. Our comprehensive data warehouse services help you modernize your data warehouse and exploit your organization’s data.
Our team of experts in cloud and data engineering help you leverage multiple capabilities of the cloud data warehouse:
- Simplified extraction, transformation, and loading (ETL) of data from the legacy warehouse to the cloud data warehouse
- Integration of the enterprise data to the cloud data warehouse
- End-to-end testing, validation, and reconciliation of data between the data source and the target site
- Enrichment and cleansing of data to support a scalable data architecture
- Consulting and analysis of your legacy data warehouse to lay a plan to improve or replace it
Looking to leverage the full volume of data that your organization generates daily? Or does your organization require a speedier decision-making process? Seeking solutions to cut the overall cost of ownership? If so, contact CloudMoyo today to discuss your data strategy and warehousing needs.
We enable enterprises to convert data into business assets. Use your enterprise data to steer actionable data insights with data warehouse modernization. Establish a scalable data structure that is driven by a data-intensive, insight-based organizational approach with CloudMoyo.