Much in business depends on the quality of information ownership: speed of decisions, analysis of results, clarity and depth of presentation of the “picture” of business connections, etc. Great hopes have been pinned on data warehouses in the development of the information industry.
Digital Data Room – a base for digital transformation
Modern society is experiencing a period of digital transformation. Information technology, the Internet, cloud services, artificial intelligence, and machine learning have created many new opportunities. The usual service processes in retail, banking, and finance have changed. Energy, industry, and agriculture are now working more efficiently and faster. The technical implementation of the concepts of digital transformation is carried out mainly on virtual platforms.
Industrial enterprises are constantly improving their business processes based on the opportunities provided by digital transformation. They increase efficiency, reduce costs and increase profits. In this complex case, they are assisted by enterprise management automation systems, accounting systems, and business analysis systems like Virtual Data Rooms, which are deployed on virtual and cloud IT infrastructure.
This digital cloud-based technology is widely used in many business spheres comprising M&A deals, due diligence, auditing, real-estate, etc. For example, a real estate data room or “data room immobilier” (in French)enables a secure and secret bidding process.
What is a Digital Data Warehouse?
Digital Data Warehouse (DW) like Virtual Data Room is the best-of-breed platform for working with structured data. Its architecture provides higher performance and is much cheaper than any other alternative, including popular platforms such as Hadoop and Apache Spark, which only complement and expand the data warehouse.
The basic principle of DW operation is very important: once entered into DW data is then repeatedly extracted from it and used for analysis. Hence, one of the main advantages of using DW in the work of an enterprise follows – control over critical information obtained from various sources as a production resource.
The most vulnerable point of using DW in an enterprise, from a business point of view, is the correctness of its data obtained from different sources. Before loading the data into DW, it must be processed using fuzzy logic methods that allow for conflicting facts. For example, data on a partner enterprise can be obtained from different experts, whose assessments are sometimes opposed.
The integration in the definition of DW is understood not as the integration of information on all sources of the functional activity of the enterprise, but in the sense of a consistent presentation of data from different sources according to their type, dimension, and meaningful description. This is the integration of data from business processes, and not the business processes themselves. They are integrated within the corporate information system of your enterprise.
DW is created to solve specific, strictly defined tasks of data analysis. The range of tasks can be expanded over time, but the defining moment in building DW is the data analysis tasks that need to be solved to achieve the goals of your business.
Virtual Data Warehouse: what are the advantages?
This innovative technology has the following benefits:
- Efficiency. You can import data into databases in real-time, perform flexible analysis, make decisions and perform a correlation analysis of data at the desired scale in a few seconds.
- Availability. Virtual storage allows users to access and share data on any device, no matter where they work. This type of connection can improve collaboration, productivity, and business agility.
- Safety and reliability. The system has built-in high availability and transparent data encryption to improve the system and data reliability.