MANAGEMENT

Database



Database

Introduction

Data is the most significant resource of an organization today and it needs to be managed appropriately. Databases are systems, which manage the information related to an organization so that it can be promptly accessed whenever needed. In this paper, we will discuss about databases and how important they are for organizations in the modern times. We will discuss about its benefits and how data mining techniques help in the banking sector by building strong relationships with customers and retaining them. We will further discuss about the key issues that prop up due to use of databases in the health care sector.

Discussion

1.Justify why there is a need for using databases in an organisation and discuss what potential benefits databases bring to support management decision-making. Give concrete examples to illustrate your discussion. You need to include references to theory in your discussion.

Need For Using Databases In An Organisation

The advent of technology has truly changed the needs of organizations, but all these needs have to be met no matter what. Other than this, there are numerous pressures from the outside world like those of the federal taxing authorities, federal security agencies and other privacy laws. All these internal and external forces require that organizations implement control on their data resources.

Decisions can easily be taken via the information that has been collected in the corporate database. Managerial decisions help define plans to be implemented at the operational level, which then become part of the corporate database. People working within organization take help from the database for information to help them carry out daily operations. Middle management can obtain relevant reports for modeling and forecasting the help the top management in the decision making process. Hence, databases play a vital role in conducting the operations of today's business effectively (Lee, 2000, pp. 34-65).

Potential Benefits Databases Bring To Support Management Decision-Making

There are numerous benefits of using a database to support management decision-making. The database system helps to properly keep and manage information. In current years, the augmented flexibility and accessibility of information makes the database system an important element of business. There are numerous database solutions, which are needed for any kind of business requirement. They range from storing an information matrix based on the customer up to hosting a WordPress blog. The benefits of database systems are stated as follows:

Databases Save Time

In aiding the management decision-making process, the database system saves time. Instead of going through stacks of paperwork, you just can pull up information on any decision making query through the database system. Instead of rummaging through endless piles of paperwork, a database pulls up information with simple queries. You just need to enter specific keywords and you can get all appropriate information.

Databases Support Communication

Bigger corporations get a lot of benefit from databases as most of the information is spread amongst various users. For instance, if a company has two branches and for decision making it is essential that it shares central information. Hence, it would be practical to execute ...