The need for data warehousing is mainly based on the necessity to reduce and, where possible, eliminate the limitations of transaction processing systems. There are, in fact, a number of compelling reasons for adopting the data warehouse solution to achieve optimal firm-wide management of data. The provision of consistent, timely and accurate data is the first condition of existence for effective marketing and effective risk measurement, control and management. Cleaning the data is decisive for the success of a data warehouse, while ensuring the quality, integrity and flexibility of data is at least as important as building the data warehouse. A data warehouse is a must for profitability analysis and market risk management.
Metadata are a significant advantageous feature of a data warehouse.
This new opportunity gives the concerned institution significant marketing power in designing new products and marketing campaigns. Facilitating a global treasury function By its ability to support reliable aggregation to the very top of the concerned institution, a data warehouse provides a credible basis for a centralized treasury function. It improves the productivity of non-technical personnel and enables fast and accurate queries and reports to be made. A great deal of the increased productivity associated with the use of a data warehouse derives from the elimination of bureaucracy, which is traditionally linked to the production of reports and queries. A data warehouse provides stronger visualization tools than those of a traditional database.