Applications of a Data Warehouse

Data warehouses have deeply rooted applications in every industry which uses structured and unstructured data from disparate sources for forecasting, analytical reporting, and business intelligence, allowing for robust decision-making. Here are some major applications of data warehouses across different industries:

Banking

  • Identify the potential risk of default and manage and control collections
  • Performance analysis of each product, service, interchange, and exchange rates
  • Track performance of accounts and user data
  • Provide feedback to bankers regarding customer relationships and profitability

Finance

  • Evaluation of customer expenses trends
  • Maintain transparency in transactions
  • Predict/spot defaulters and act accordingly
  • Analyze and forecast different aspects of business, stock, and bond performance

Government

  • Maintain and analyze tax records, health policy records, and their respective providers
  • Prediction of criminal activities from patterns and trends
  • Searching terrorist profile
  • Threat assessment and fraud detection

4. Education

  • Store and analyze information about faculty and students
  • Maintain student portals to facilitate student activities
  • Extract information for research grants and assess student demographics
  • Integrate information from different sources into a single repository for analysis and strategic decision-making

Healthcare

  • Generate patient, employee, and financial records
  • Share data with other entities, like insurance companies, NGOs, and medical aid services
  • Use data mining to identify patient trends
  • Provide feedback to physicians on procedures and tests

Insurance

  • Analyze data patterns and customer trends   – Maintain records of all internal and external sources, including existing participants
  • Design customized offers and promotions for customers
  • Predict and analyze changes in the industry

Manufacturing

  • Predict market changes and analyze current business trends
  • Analyze previous and current market data
  • Track customer feedback and identify opportunities for improvement
  • Gather, standardize, and store data from various internal and external sources
  • Identify profitable product lines and required product features

Retail

  • Maintain records of producers and consumers
  • Track items, their promotion strategies, and consumer buying trends (trend analysis)
  • Analyze sales to determine shelf space
  • Understanding the patterns of complaints, claims, and returns

Services

  • Maintenance of financial and employee records
  • Customer profiling and screening
  • Resource allocation and management
  • Revenue patterns and profitability

As exhibited, a data warehouse ensures improvement in the decision-making process of a business and increases organizational performance.