Write (5pages) of Data Warehouse, OLAP and Data Mining for Business Essay

Write (5pages) of Data Warehouse, OLAP and Data Mining for Business Applications - Essay Example This eradicates the need of specialists installing them after purchasing the database (Ling and Tamer, 2009). The research will establish the different areas of running businesses that this technology can be applied. Some of the areas to be checked are budgeting, sales forecasting and determining whether to produce a new product or not. The main objective will be establishing the benefits accrued by multinational businesses when they carry out data mining in their data warehouse. This information will be used in determining if these benefits can be passed to small scale businesses without the capability of purchasing this technology (O’Brien & Marakas, 2009). The research will establish the cost benefit that businesses receive by using this technology. Cost benefit will establish the opportunity cost of using this technology instead of manual data analysis using the stand alone software. The data warehouse is a collection of data which helps management in decision making. The warehouse has a capability of providing enormous amount of information at the same time. This makes it a better tool for use by businesses that are storing amount of information about their production operation process. The data warehouse ability of integration with modern analysis tools like OLAP is an advantage to corporate. This helps in timely and correct analysis of data, which can be used in decision making by managers (Agosta, 2004). These are software tools that enable data analyst analyze data and view it from multiple perspective. The multiple perspective help managers analyze different options of a problem before arriving at a conclusion. OLAP support activities like analyzing the financial trends in businesses. This would bring to the attention a manager a production line that cost of production is rising without any additional benefits accruing from it. OLAP tools are easy to use and do not require massive investment