Why You Should Consider Buying Data Warehouses vs. Building Them

Data is incredibly important when it comes to making business decisions, helpful in forecasting business performance and optimizing your overall operations. Many mid-sized and large businesses turn to data warehouses to analyze data and make informed decisions around their business.

Although some large organizations decide to design and build their own data warehouses for the purposes of gathering business intelligence and data analytics, there are many reasons why you should buy versus building a data warehouse on your own.

In this blog post, we will take a look at reasons why buying and allowing a third party to maintain your data warehouse software is a better and safer choice for your business.

5 reasons Why Restaurants Should Buy Your Data Warehouse Solutions vs Building Them

1. Buying a solution allows you to focus on other parts of your business operations.

Outsourcing to a third party takes the responsibility off of you and your employees, freeing you to focus on actual data analysis and mission-critical decision making. You will want data warehouse tools that can provide visibility and transparency for management through customized reports and dashboards with flexible configurations. It is important the data warehouse solution can shift with the market and infrastructure is maintained to accommodate new business data. Outsourcing this can result in significant efficiency and time savings.

2. When you buy, you can access support throughout the partnership.

Where data warehouses are concerned, you don’t just want a vendor; you want a true business parter. The right partner will provide technical support, integrations, maintenance services and upgrades at a set rate throughout the year. The maintenance costs alone, not to mention the upfront costs of building a data warehouse add up quickly. Let a partner step in to help administer, maintain and support the data warehouse systems informing your business intelligence.

3. Quality is important for building a data warehouse.

Anyone who works closely with data is likely familiar with the adage, “quality, in, quality out,” and building a data warehouse is no exception to that rule. When you look for a quality partner to help with your data warehouse needs, prioritize one who already knows what data trends and business data are important to your industry.

The best data warehouse will be one that works efficiently and seamlessly with your other tech systems and processes. It is costly and difficult to attract and retain in-house experts able to leverage data warehouse tools. In some cases, a third-party provider may simply be the key to gleaning the quality and capabilities you need for your business.

4. Legal security compliance doesn’t fall on you.

Another benefit of outsourcing a data warehouse solution is liability protection. When you move forward with a third-party partner, that partner is completely liable for all the legal and compliance risks related to business intelligence and data storage.

5. A third-party solution is less expensive to maintain.

While both buying and building a data warehouse are significant investments, buying will likely be a far more cost-effective option for you in the long run. Many businesses tend to think of the total upfront costs versus long term costs when evaluating their options for a solution like this.

Building your own solution can lead to uncertainty and costs you weren’t prepared to address. Conversely, with buying, you know what you are purchasing and the costs associated with the product. This investment is more predictable and has structure to it. The risk of buying comes down to trust. You will want to have trust in your partner and the technology they can bring to your data warehouse software.

Turn to Revel Data Connector for Your Data Warehouse Needs

Here it comes—the shameless plug. In this case, though, our team at Revel Systems® is confident that Revel Data Connector is the best way for you to access Revel point of sale (POS) core data using business intelligence (BI) tools. Data Connector provides visibility and transparency for corporate executives into business drivers and detractors. Designed to solve descriptive and diagnostic analytics problems, Revel Data Connector may be used as a foundation for other types of data analysis.

Revel Data Connector is an alternative data source that allows your business analysts to build custom reports at scale using BI tools they know best. It allows your business to have the flexibility to analyze data needed to make critical business decisions. Here are a few of the solution’s key benefits:

• Automated reporting that removes all the manual work needed to export reports from Revel’s management console
• Multi-dimensional business data lets you pick and choose the metrics to focus on depending on your goals
• Data structure and preparation is specifically curated for analyzing data and custom data warehouse reporting
• Scalable infrastructure means Revel Data Connector can easily handle business data that increases on pace with your business growth
• Reports are designed for executive visibility and transparency
• Preconfigured tools save corporate analysts significant time preparing data for visualizations and review
• Cloud infrastructure means you can store data, and more importantly, access that data, whenever and wherever you need to do so

Use Cases for Data Warehouse Tools and BI Tools

• Building visual dashboards within business intelligence tools for quick, data-informed decisions that result in increased profits
• Forecasting the performance of your business based on historical, segmented, cohort, and seasonal data
• Integrating with other data sources like inventory, staffing, and delivery management tools, thus giving you a 360-degree view of you restaurant performance
• Tracking key performance indicators to quickly adjust and optimize restaurant operations and menu offerings
• Comparing product, combo and modifier performance in different establishments and territories in which your business operates
• Identifying which sales and distribution channels are the top performers and what trends are present within those channels
  
  

If you want to learn more about how Revel Data Connector can help you uncover transformative insights with custom data warehouse reporting and make even smarter business decisions, talk to a Revel sales representative today!