What is Data Mart?
A Data Mart is a smaller subset of a Data Warehouse, focused on a single functional area. The functional areas can be companies HR, finance, sales, or marketing. Specific data can be accessed from the datamart more easily and quickly than going through large multiple source data like from data warehouse. Thus the primary purpose of data mart is to isolate to a smaller sets of data from large source to provide easier and faster for the end users.
Data Mart Vs Data Warehouse
Both Data Mart and Data Warehouses stores data, the key differences are as below:
- Data Warehouse acts as a central store of data for the entire business whereas Data Mart is subsets of Data Warehouse and stores data for a specific division or sub-group.
- Size of Data Mart is generally < 100 GB whereas Data Warehouse is larger than 100 GB.
- Data Warehouse designing process is complicated and expensive whereas Data Mart design process is easy and cheaper.
- Data integration for Data Mart is one subject area whereas Data Warehouse is of entire business data.
- Data handling from Data Warehouse takes a longer time than the Data Mart.
- Data Warehouse building process takes many months to year whereas Data mart takes only a few weeks or month to complete the process.
Building Data Mart for the Company
Data collection and analysis used to be very difficult in the paper-backed age. However, now things have become very easy with the help of computer technology. As collecting data has become very easy, it has also become very important at the same time. It is because this data can play a great role in the road to the success of your company. Here we will be discussing the importance of Datamart for your company.
8 reasons why data building using Data Mart is important for the success of your company:
Although there are a lot of reasons that can be taken to justify the importance of data for your company. Here we will only be discussing a few of them. So, the following are the top 8 reasons why data building and using Data Mart is very important for your company.
Out of all the things, one thing that makes the biggest difference for the success of your company is the decision. One wrong decision can make the company fall. Likewise, one right decision can set sky-high success for you. Data in this case by helping in making the calculated decisions.
It is because when the data you get from Data Mart is precise and faster, it can provide solid evidence against and in favor of certain events. Then you can use this information for making better decisions and maybe faster for your company. Here you will not be depending on luck for your decisions to be good.
Getting your desired results
When you are running a company, you are not only up to one thing. It is because certain things are going on and you are working to manage all of them. It is because you want the best results for your company. Well, with the help of data this can get very easy. It is because the calculations done with data can be very useful in measuring the evidence for some strategy.
In this way, you can calculate the results even before implementing the strategies. This will not only save a lot of time and cost, but it will also be very beneficial for selecting the best strategy. This will ultimately help in getting desired results in a very efficient manner.
When you are using Data Mart for the betterment of your company, you will be monitoring the problems in a very effective way. It is because the data will help in identifying the problems in different important sectors of your company. So, as soon as the problems are identified, you can start looking for the solution.
This will be beneficial for your company in the following ways.
- The problems will not be found only after they have become very difficult to solve.
- Quick identification will provide more time for finding the solutions.
- This will save time, cost, and a lot of other resources.
Finding the right solutions to the problems will become easier.
Just like you can find the problems with the help of Data Mart in an efficient manner. Finding results to those problems will also be much easier. It is because the data of that specific function will provide the exact information about the thing that is causing the issues.
So, you can think about the solution to that problem. At the same time, you can test the solution with the help of data without actually implementing it. This will tell about its effectiveness.
Every argument will have a stronger base.
Whether you are looking to implement some strategy or you are contradicting its implementation. You will always need some stronger argument to make it stand. So, with the help of Data Mart, you will have the calculated results for each of the arguments.
This will not only save you from the embarrassment and stress of presenting your argument. But it will also be significantly beneficial for the success of your company.
Keeping track of information.
Whether it is goals, success, benchmarks, baselines, or anything you need to keep the motivation alive. Data Mart will make it easier to keep track of it all. It is because Data Mart will store information about the company’s matters in subgroups.
So, this information can be used to keep track of outcomes of the company which will be easier with the data as compared to doing it without Data Mart.
Finding the stronger areas and better performance will be easier.
For the success of a company, it is important to work both on the stronger and weaker areas. Working on the weaker areas takes a lot while the stronger areas do not need a lot to perform well. So, finding the stronger areas will be very significant while you keep working on the weak areas.You can easily find the stronger areas where the company is performing well with the help of Data Mart. As you identify them you can study more about them to make them perform even better. In this way, Data Mart can bring a lot of success in a very short time for your company.
Gathering money and managing it will be a lot easier with data.
An interesting thing about the business and companies these days is that most of them are running with the stocks of others. This means that collecting money can bring a lot of success to your business.
Data Mart can help in this case by providing better evidence that will attract people in investing in your company. In this way, you will be able to collect more, and the company will become more successful this way.
If you are looking for the success of your company, building Data Mart is very important. It is because these things will help in utilizing the precious data in a very effective manner for the success of your company.