When it comes to investing in data warehouse technology, one important decision to make is whether to build your own solution or buy a pre-existing data warehouse technology stack. While building a data analytics system using horizontal tools and platforms offers certain advantages, opting for a ready-made solution can provide a jump start to your data analytics program. The latter approach involves selecting from the top data warehouse technology solutions available in the market. These solution providers have already invested in pre-selecting the infrastructure, database, transformation tools, as well as data visualization and analytics components, saving you time and effort.
By choosing a buy option, you can benefit from the expertise and resources of established solution providers who have already evaluated and integrated various components of the data warehouse technology stack. This can result in a more streamlined and efficient implementation process. These solution providers have likely invested in building a robust infrastructure, selecting a suitable database management system, and incorporating transformation tools that facilitate data integration and processing. Furthermore, they may have prebuilt connectors and adapters to integrate with various data sources, making it easier to ingest and transform data.
In addition to infrastructure and database components, data visualization and analytics tools are also an essential part of the data warehouse technology stack. When you opt for a buy option, these tools are typically included, saving you the effort of separately selecting and integrating them. These tools can help you visualize and analyze data, enabling you to gain valuable insights and make informed decisions.
By choosing a pre-existing data warehouse technology stack, you can jump-start your data analytics program, as much of the initial groundwork has already been done. However, it's important to evaluate different solution providers to ensure their offerings align with your specific needs and requirements. It's also worth considering factors such as scalability, security, vendor support, and pricing when making your decision.
For more information on data warehouse development and the pros and cons of building versus buying, you can refer to the link you provided: https://culytics.com/blogs/data-warehouse-development.
Aunalytics data platform provides Insights-as-a-Service to answer enterprise and midsized companies’ most important IT and business questions. The Aunalytics cloud-native data platform is built for universal data access, advanced analytics, and AI while unifying disparate data silos into a single golden record of accurate, actionable business information.
Its Daybreak™ industry intelligent data mart combined with the power of the Aunalytics data platform provides industry-specific data models with built-in queries and AI to ensure access to timely, accurate data and answers to critical business and IT questions. Through its side-by-side digital transformation model, Aunalytics provides on-demand scalable access to technology, data science, and AI experts to seamlessly transform customers' businesses.
- Aunalytics provides easy access to credible data, whether you’re part of the IT team or not.
- Aunalytics connects real-time data from disparate data sources to algorithms to provide daily insights.
2. Arkatechture - Arkalytics
Arkalytics by Arkatechture is an end-to-end business intelligence solution for credit unions that includes a fully managed cloud-based data warehouse with an entire suite of financial reports and executive dashboards.. These advanced analytics and reporting platforms integrate disparate data sources into a single source of truth through an automated, lean data pipeline.
Arkalytics boasts implementation times in the range of 3-6 months versus multiple years for comparable on-premise deployments. In addition, Arkatechture’s experience at larger financial institutions gives them a leg up on delivering automated data quality tools that help Credit Unions maintain the highest level of confidence in their data.
- 50 out-of-the-box data quality rules help enforce policies, ensure accountability, and aid data defect cleanup efforts.
- An optional development environment or “analytics sandbox” add-on gives business users a safe way to experiment with writing new reports and queries.
- Third-party auditors attest to data security in the cloud under the SOC2 guidelines.
3. VeriCU by The Knowlton Group
The Knowlton Group's VeriCU Data Platform is a data warehouse solution that is designed specifically for credit unions wanting to take their analytics to the next level of performance. The data warehouse can be deployed either on-premise or in the cloud.
With a strong pre-built foundation and a plethora of customizable components, the data warehouse perfectly blends the cost and speed of implementation of a pre-built solution with the flexibility and customization of a custom-built data warehouse.
VeriCU Data Platform integrates with key non-core data sources like the consumer loan origination system (“LOS”), mortgage LOS, online/mobile banking, GL, and a host of other key applications at the credit union.
Speed is critical to success with data. That’s why we designed the VeriCU Data Platform to be deployed in as little as 72 hours. We didn’t give it the nickname The 72 Hour Data Warehouse™ for no reason!
4. Fiserv - iVue®
iVue® from Fiserv is a data warehousing platform designed to support a combined view of organizational, departmental, and customer information. It provides your credit union with a consistent and complete picture of quality and actionable business information. You can develop effective business strategies, boost marketing results, and manage financial and operational risk more broadly through this information.
iVue® comes with integrated Business Analytics that provides you with reporting capabilities. Its innovative, browser-based features allow Business Analytics to simplify information management, enabling your staff to create, manage and view reports from a single portal. Assembled by Fiserv business and executive intelligence specialists, these tools combine extensive analysis and reporting functionality with easy-to-use technology.
- iVue® enables you to analyze your data and gain opportunities to maximize revenue, control expenses, and improve customer satisfaction.
- iVue® lets you develop effective business strategies and improve marketing results.
- The information provided by iVue® lets you manage operational and financial risks in all your business areas.
5. Trellance M360
Trellance M360 is a multi-source data platform, built for financial institutions. The patented capabilities of Trellance M360, be it data integration or configurable dashboards for the entire organization, set the standard of how you are working with your data. Working with M360 allows credit unions to find actionable insights, improve member experience and achieve portfolio growth.
- Trellance M360 creates analytics reporting for different areas such as Branch Analysis, Lending Analytics, Credit Card Analytics, Dealer Analysis or Lending Analysis.
- It easily lets you detect fraud using algorithms that are designed to alert responsible areas.
- With M60 you can configure the solution and manage data in ways that work best for you.
- It allows you to do faster updates and faster implementation in a secure environment.
The solutions listed in the article are ordered based on their investment in the CULytics community and alphabetically.