I believe Paul B answered best but I will reiterate; why does a Data Warehouse need to be built in this instance?

You could probably create a linked server to the ERP System and run a very simple aggregated OPENQUERY statement such as;

Select count(*), Application_Status, Application_Date from OPENQUERY(ERP, 'select Application_status, Application_date from library.table')

group by application_status, Application_Date.

That may not be 100% what you are after, but after reading the request I believe that is close.

Data Warehouses store volumes of data that generally span multiple business functions (i.e, financials, sales order, operational data etc)

At best you have a very limited and localized Data Mart.