Cloud Data Warehouses Are a Game-Changer for Modern Businesses. Here's How to Utilize Them for Growth and Expansion. In this era of industrialization, modern businesses flourish on the foundations of cloud computing, in which cloud data warehouses are one of its pillars. Here is how contemporary businesses leverage this weapon for business growth.
By Taiwo Sotikare Edited by Chelsea Brown
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The cloud data warehouse is a game changer for modern businesses — it's a tool that companies use to keep up with emerging trends and continue to record an all-time high in business activities and customer loyalty.
This shift has opened innovative doors as bolder and more consumer-focused products are built, insightful, productive decisions are made, and business intelligence results are 80% achievable. Workflows are better, collaboration is at its best, cost-effective business structures are being erected and so much more.
Most modern businesses, however, are still at the edge of learning how to utilize these resources for business growth. Below are some key benefits of cloud data warehouses and how businesses can leverage them for growth and expansion.
Related: What is Cloud Computing? Here's Everything You Need to Know.
Intelligent decisions and enhanced product quality
One of the core benefits of cloud data warehouses is the ease of business decisions based on intelligent data and predictions. Businesses that leverage cloud data warehouses are always on top of the game within their industry sector. Insights are garnered from both internal and external data to push business prospects and solve business problems. With the availability of interpreted data from various organizational aspects, modern businesses stand to enjoy improved product quality and dominance in the consumer market today.
Through digital footprints and weaponized data, thanks to artificial intelligence and cloud computing, modern businesses build bold and quality products based solely on consumers' interests and needs. On the heels of business intelligence, companies scale, grow and expand their ventures while strategically placing themselves in a sweet zone for futuristic prospects and innovations. The future is in the cloud. Enterprises that understand this take advantage of this curve by building their business surrounded by insightful data. All the Fortune 500 companies were once startups and small businesses. Being able to look beyond where they were by making futuristic plans and strategies brought them to where they are now.
Increased customer retention, satisfaction and loyalty with data mining
Companies constantly need pertinent information and insights about customer shopping footprints, optimal pricing, new product launches and consumer behavior across different organizational boards.
Businesses that develop, manufacture and render services tailored to their consumer's needs tend to have a continual influx of patronization. Customer loyalty is built with continual adjustments to these products and services to suit consumers' changing needs and desires. How do you know what to tweak and what to add? Data mining.
Mining and studying consumer behaviors and interactions with different products gives companies insights into what to do differently to capture the heart of their target audience — researching and analyzing market trends, Google analytics, consumer shopping history, ad tracking, etc. In hindsight, it turns the product and marketing team into psychics. They will acquire a strong premonition power to produce and market products based solely on consumer needs.
With data mining, firms and enterprises will consistently deliver up-to-par products, with customer satisfaction and usability at their very peak. This mined data also arms modern businesses with long-lasting strategies for branding and an increased client base.
Related: The Role Of Cloud Computing And Data Analytics In Reviving the Retail Sector
Absolute integration of data with multi-cloud computing
Most organizations run multiple cloud environments and also other on-prem application systems. This considerable advantage can only be leveraged through cloud data warehouses. It allows modern businesses to connect seamlessly and enjoy different cloud computing services while maximizing the cost advantage of managing such high-end technologies.
This multi-cloud feature also allows for the absolute integration of data. Businesses today need to be able to analyze different levels of data from different sources. Integrating data from multiple sources, sometimes structured, unstructured and semi-structured, can be tasking. But with cloud data warehouses, the switch and connection to different computing platforms to source for the features needed to accommodate and interpret data efficiently and effectively are easy and seamless.
Efficient collaboration and communication with multiple users access
Different aspects of modern businesses have different business needs. With data ranging from raw and unstructured to highly transformed, a cloud data warehouse can support multiple user categories for modern enterprises — data scientists, report writers, developers, UX researchers and even client relationship managers. This is an excellent leverage for small and medium-sized businesses. Businesses being able to have all data in one space and accessible to different categorical needs of the company is fly.
A data scientist can access and share files with the developer while the product manager controls all their activities. This promotes efficient dispersal of duties (including adopting the hybrid work mode if needed). Modern business owners enjoy massive business growth while maintaining a good relationship with their employees.
Related: How Cloud Technology Is Helping Big Enterprises Increase Efficiency
Enhanced security, data administration and effective cost management with cloud hosting providers
Risk mitigation and enhanced data security are core benefits of cloud data warehousing. Tight cloud computing security features and periodic software updates provided by cloud computing hosts ensure that security breaches are drastically curtailed. Organizations boycott the headaches of taking responsibility for security and managing infrastructure availability, maintenance and performance. These are major wins for modern businesses utilizing cloud data warehousing.
Data management and administration activities are automated and monitored 24/7. Data quality is maintained, vital information is accessed only by authorized personnel, and cyber attacks and crimes are reduced. All these benefits are exercised without incurring unnecessary cost overheads and overall costs. The cloud host providers manage the costs for servicing, maintenance, upgrade and integrations, giving businesses a head start in focusing strictly on only business activities.
