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Financial Reporting and Accounting Blog

How Much Does a Data Mart Cost?

Adam Jacobson July 28,2015

You’ve undoubtedly heard of data marts and data warehouses. And perhaps you’ve wondered about building one or both for your own company. But you haven’t looked into it yet because you have no idea how much they would cost.

In this post, I’ll walk you through a project we recently completed for a client, where we built a simple data mart. At the end, I’ll include estimates of what you could expect to pay for a similar data mart project.

Data Mart vs. Data Warehouse

Before we start, let’s clarify the difference between a data mart and a data warehouse:

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Tags: Data Mart Infor SunSystems

7 Steps to Improve Your Financial Reporting – Without New Software

Adam Jacobson August 29,2013

Financial reporting can be a challenge even with an up-to-date ERP system. If you have multiple systems, the challenge is even greater. And if much of your reporting is stuck in Excel, you may wonder if you need to buy new consolidation software.

Is new consolidation software the need to solve your financial reporting issues? In most cases, the answer is a very big maybe.

Yes, new software is cool. New software is pretty. But it’s also expensive and often unnecessary.

At Red Three, we specialize in helping our clients get the reports they need from the software they already have. While consolidation software like Hyperion certainly has its place, you may not need it. Indeed, before you invest in any business intelligence or financial reporting tool, make absolutely sure you’re maximizing the power of your current software.

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Tags: Data Mart Financial Reporting Software

7 Ways to Make Data Work For You

Adam Jacobson May 19,2011

Most of our clients are comfortable working with numbers, and they love the reports we build for them. Whether in finance, procurement, or certain kinds of marketing, these Numberphiles live and breathe data on a daily basis. But when they want to share their reports with others in their organization that may be less comfortable with quantitative data, often those beautiful reports just get ignored. Their phones continue to ring with questions, even though all the answers are in the reports they just distributed. But even worse, their organizations don't take the appropriate corrective action because their personnel never really understand the data that's presented to them.

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Tags: Data Mart Data Integration Business Intelligence ROI Data Visualization Financial Reporting Software

Building a Data Warehouse (Pt. 2)

Adam Jacobson March 19,2011

READ PART 1

Before we go further it?s worth noting that, while there is complex software for data warehousing, most of the time for mid-sized companies that software is just another database, just like the ones that store the transactional data we discussed earlier.

There are several reason to build a Data Warehouse:

1. You have multiple systems all with the same data.
Often you don't have just one system. Indeed, these posts were motivated by a prospect who over time has merged five different companies with five different systems. Getting data out of these systems isn't easy ? at one point they gave a prospect an incorrect list of references. Oops.

In this case, we have several options:

  • Manually dump all this data into Excel (manually) ? Inexpensive but prone to error.
  • Get everyone on the same system ? Very, very expensive. If you have ever suffered through an international software roll-out you know it's not simple. And if the businesses are even slightly different it?s not easy to find a "one-size-fits-all? solution.
  • Build a Data Warehouse?We're recommending the third option - but you probably figured that out already.
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    Tags: Data Mart Financial Reporting Software

    Building a Data Warehouse (Pt.1)

    Adam Jacobson March 17,2011

    My recent post about Using the General Ledger as a Data Warehouse got a lot of interest (thanks!) so I thought I would expand upon the topic of the Data Warehouse.

    So what is a Data Warehouse? It's simply a place where data resides that is separate from the system where the data was entered.

    Almost everyone enters data into a "live system" every day. These transactional systems include everything from accounting systems like Quickbooks, to CRM systems like Salesforce.com, to complete ERP systems including SAP and Oracle financials. These are the systems where your work goes in - whether that's a journal entry or a sales leads. And while these systems generally store data in a database, that database is NOT the same as a data warehouse.

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    Tags: Data Mart Data Integration Business Intelligence ROI Financial Reporting Software

    Building a Data Warehouse

    Adam Jacobson March 1,2011

    My recent post about Using the General Ledger as a Data Warehouse got a lot of interest (thanks!) so I thought I would expand upon the topic of the Data Warehouse.

    So what is a Data Warehouse? It's simply a place where data resides that is separate from the system where the data was entered.

    Almost everyone enters data into a "live system" every day. These transactional systems include everything from accounting systems like Quickbooks, to CRM systems like Salesforce.com, to complete ERP systems including SAP and Oracle financials. These are the systems where your work goes in - whether that's a journal entry or a sales leads. And while these systems generally store data in a database, that database is NOT the same as a data warehouse.

    Read More

    Tags: Data Mart Business Intelligence ROI Financial Reporting Software