Data Warehousing Market: Overview
Data warehouse is a relational database formed to analyze and perform query processing. Data warehousing is generally used by enterprises as the data stored by these warehouses is of large size. Warehouse stores data retrieved from historical transactions; however, it also contains data from various other sources. Data warehousing contains additional tools compared to a relational database. Extraction, transformation and loading (ETL) tools are available for processing in data warehousing. In addition to the ETL tools, Online Analytical Processing (OLAP) engine, analytical tools for clients are also present to manage the data gathering and delivering processes.
Data warehousing is used by businesses for data mining, where patterns within the information stored are identified. This pattern between information can prove extremely helpful as business strategies are formulated according to future trends derived from the historical data. Data warehousing has opened multiple opportunities for business intelligence (BI). BFSI sector is increasingly using data warehousing as financial fluctuations could prove harmful for any enterprise.
Data Warehousing Market: Growth Trends and Opportunities
Data generated by organizations worldwide is increasing constantly, which is the major driving force behind the growth of data warehousing market. Telecommunications, BFSI industries need to store billions of records on a daily basis. Growth of IT and related services worldwide is also contributing to increase in data generation. Enterprises all over the world have understood the importance of BI which has resulted in processing of historical data on regular basis. Also, analytical tools are required for processing data. Data warehousing offers tools for such processing. Proliferation of cloud technology has been helping data warehousing market to grow during recent years. Cloud technology provides an infrastructure designed for data warehousing, enhancing its potential further. Budget restraints and time required to build in-house software are the key factors responsible for adoption of cloud-based data warehousing solutions. Overhead costs are reduced with the usage of cloud technology, as space and cooling expenses are non-existent.
Concerns regarding security could hinder the progress of data warehousing market. Important historical data is stored in data warehousing, which is used to make future business strategies. This makes the stored data highly confidential and therefore it must be protected and handled with precaution. Threats to enterprise security are increasing as the global competition increases. Also, as the size of a data warehouse is increasing, filtering this data and finding high quality data usable for analytical purpose is becoming difficult. To deal with increasing size of data storage, big data is used by companies. Big data can store and process large amount of data compared to a data warehouse. Also, Hadoop technology emerged primarily to handle unstructured big data. However, Hadoop can help IT teams to efficiently mix big data systems and data warehouses. Operational data warehousing are seen as the future of data warehousing. These warehouses will be used to process day to day transactions and provide analytical solutions on a daily basis resulting in reduced load.
Data Warehousing Market: Key Vendors
Major players in the data warehousing market are IBM Corporation, Microsoft Corporation, Oracle Corporation, Teradata Corporation, SAP AG, SAS Institute Inc., Informatica LLC, Amazon.com, Inc., Treasure Data Inc. and Hewlett-Packard Development Company, L.P.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.