3 big benefits of real-time data warehousing

Tired of wrangling data into Excel spreadsheets? Still waiting on that report from IT? Well, by the time reports are ready, it’s often too late to take any meaningful action. Especially not in real-time. To accelerate business innovation and get value from data faster, instantaneous analysis and decision-making made possible with real-time data warehousing is the answer. Real-time data warehousing, like Google BigQuery, can help improve business agility, enable personalized customer experiences, and unlock new business models.

1. Improve business agility through optimization

The traditional approach to data analysis involves bringing data together on a fixed schedule to create reports. Data is gathered, sanitized, standardized, then rolled up into a report. When data is siloed on different systems, the reporting process can sometimes require a request to IT staff, who then have to pull data from various sources. This is a tedious process where by the time the data reaches the decision makers, it is no longer relevant. Bringing data together automatically in real-time can cut down on wait times and make real-time decision-making possible.

Real-time data warehousing allows businesses to combine the data from various sources into a single repository accessible to different business units. This allows important data to be shared across departments while retaining user roles and access to specific tools. For example, the marketing team using Mailchimp, the sales team using Salesforce, and the customer support using Zendesk can consolidate their data and garner insights that can fuel agile decision-making.

2. Personalize customer experiences with AI

Modern consumers expect a personalized customer experience. They have become accustomed to being connected at all hours and staying in the loop. The customer experience is not just about being quicker but giving them an experience that imitates the attentiveness they might expect one-on-one in a store. To achieve this personalized experience at scale online, organizations must have rapid access to real-time data to make prompt decisions.

Real-time data warehousing enables machine learning and advanced analytics to tailor every phase of the customer buying cycle to the individual buyer. For example, after completing an order, a customer is much more likely to make another purchase, so providing useful related products not only helps them, but could turn a single smaller purchase into a bigger one. Even if they don’t buy, AI powered systems can provide offers in the days or weeks following the purchase with further offers or helpful information to enhance the initial sale.

The customer experience is not just about being quicker but giving them an experience that imitates the attentiveness they might expect one-on-one in a store.

3. Uncover new business models through detailed insights

Real-time data access opens the door to many different use cases for businesses in every industry. The insights garnered from this new consolidated data source can help businesses increase the value they provide to their customers through small iterations or completely new offerings.

Online retail services can tap into their existing data to reveal new opportunities. Cart abandonment, as an example, can trigger follow-up emails or messages to remind the customer where they left off and capture a portion of potentially lost sales. The data can also help to identify points of friction in the buying process so that changes can be made and processes tested.

Factories can use real-time data from sensors to track the health of machines. This helps with preventive maintenance based on best practices and historical data, and predictive maintenance based on real-time measurements from machines as they’re occurring. Machine uptime is increased, and unplanned maintenance is minimized.

Accelerate your data transformation with CloudMile 

Google Cloud BigQuery is a serverless, cost-effective and multi-cloud data warehouse designed to help you turn big data into valuable business insights for SMEs to enterprises.. It also supports built-in machine learning and AI with many commonly used functions available on the platform, allowing you to securely access and share analytical insights with your colleagues. To get you started on your data warehousing journey, CloudMile offers a full suite of services from data evaluation, migration, and strategy, to data warehouse optimization, cost optimization, and impromptu technical support. Get your insights today!

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