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Data warehousing possible on a disaster recovery hot site?

We have been granted approval to put together a disaster recovery hot site (high availability) We are planning on buying the appropriate DR licenses from Oracle and implementing DataGuard as the replication tool. Our CIO would like to do some data warehousing or at least reporting on the hot site. Is this possible when using DataGuard in a standby DR replication scenario?
One of the advantages of Data Guard is that you can place the standby instance in READ ONLY mode so that you can run reports against the database without impacting your Primary instance. The biggest downside to this approach is that while the standby instance is in READ ONLY mode, it is not able to apply redo from the primary database. So data divergence will exist. In the event of a failure, you will have to wait for the Standy to apply all of the redo before it can become your new primary database. The amount of time you place your standby in READ ONLY mode can lead to a long delay in the amount of time it takes for a failover to occur.

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