Business benefits


For most businesses, the more you know about your customers, your suppliers, and your competitors, the better. Therefore the gathering, storing and processing of information in the form of databases can provide you with a distinct advantage.

Many businesses do not have the time or resources available to gather and process large quantities of information. Therefore they may lack information about how their business is performing, how profitable their product lines are, whether customers are making repeat purchases, etc. This information can help deal with specific operational problems or shape future strategy. It is not always obvious what information could be valuable in the future so you should gather as much data as possible.

Using a sophisticated database system allows you to do this, and the store of data that is built up over time can become increasingly useful and valuable. For example, historical data can show you business trends, or sales records can identify valuable customers. In addition, the disciplines required to gather, enter and process such data can help to ensure that your business is run in a regulated and properly managed way.

Some of the advantages of using database technology in your business include:

  • reducing the amount of time spent managing data
  • giving you the ability to analyse data in a variety of ways
  • promoting a disciplined approach to data management
  • turning disparate information into a valuable resource
  • improving the quality and consistency of information

Subjects covered in this guide

 


Information Systems
Online Databases
Secure
Data Driven Websites