How Will The Cloud Impact Data Warehousing Technologies?
The recent years have seen a tremendous surge in data generation levels, characterized by the dramatic digital transformation occurring in myriad enterprises across the industrial landscape. The amount of data being generated globally is increasing at rapid rates. In fact, studies by the Gigabit Magazine depict that the amount of data generated in 2020 will be over 25 times greater than it was 10 years ago. Furthermore, it has been estimated that by 2025, the cumulative data generated will triple to reach nearly 175 zettabytes.
Demands from business decision makers for real-time data access is also seeing an unprecedented rise at present, in order to facilitate well-informed, educated business decisions.
In order to make data useful, actionable and scalable for their business, enterprises need an efficient and cost-effective way to store, label, and interpret this data. One of the most lucrative ways to do this is through data warehousing.
Dating back to the 1970s, the data warehousing market emerged when computer scientist Bill Inmon first coined the term ‘data warehouse’. Created as on-premise servers, the early data warehouses were built to perform on just a gigabyte scale. They have undergone significant transformation since then, with modern warehouses housing largescale terabyte capacities.
Data warehouse, also known as a decision support database, refers to a central repository, which holds information derived from one or more data sources, such as transactional systems and relational databases. The data collected in the system may in the form of unstructured, semi-structured, or structured data. This data is then processed, transformed, and consumed to make it easier for users to access it through SQL clients, spreadsheets and Business Intelligence tools.
Data warehousing also facilitates easier data mining, which is the identification of patterns within the data which can then be used to drive higher profits and sales. Data warehousing industry application scope spans across several domains related to analytics and even cloud in some cases, including BFSI, healthcare, manufacturing, telecom & IT, retail and government, among others.
There are several companies in the technological sphere making significant strides in advancing data warehousing technologies. One of the most prominent is Teradata, which is a leading data warehouse company, with over 30 years of experience in the domain. The Teradata software is used extensively for various data warehousing activities across many industries, most notably in banking.
