Abstract: Traditional Data Warehousing systems have static structure of their schemas and relationships between data; therefore they are not able to support any dynamics in their source structure and contents, consequent inconsistent analytical results. A novel modeling technique Semi-Star Schema was proposed to accommodate such dynamics. Multiple attempts have been made for conceptual modeling of star-oriented schemas of data warehouse but not for Semi-Star Schema. In this study we squabble that, in order to accurately reflect analytical business requirements into an error-free, understandable and easily extendable data warehouse schema our proposed conceptual model namely Entity-Subject Conceptual Model (ESCM) should be used. Which is (a) capable of interpreting business analytical requirements into abstraction (b) customized for tracing inter-attributes, entities, facts and dimension relationships. (c) formal and complete, so that it can be transformed into next logical schema with out ambiguities. (d) constructed in a customizable and extensible manner, so that the designer can enrich it.