As businesses have become more dependent on the data that they have harvested, they are able to extrapolate relevant information that can help their business thrive – through more targeted marketing, increased operational efficiency and the ability to recognize lulls in their performance. Gathering, storing and processing data about your products and services, your customers and even your suppliers is essential to streamline your business and boost productivity and profits.
A database is more than a list of tables, rather it is a coordinated collection of data that is developed to meet your current business needs but scalable to manage future demands. Your database needs to have several key properties:
- Comprehensive: The database should enable users to access the data that they need. This means that you should have clearly defined criteria for what you want your database to achieve, but it should also be able to cope with ad hoc requests for data.
- Agile: Your database should be able to evolve to accommodate future user requirements, whether it’s a change in products or compliance requirements, it should be dynamic enough to respond to change successfully.
- Integrity: Users need to be able to trust the database’s security and that the data provided is reliable.
- Efficient: Users should be able to access data swiftly without excessive response times.
- Usable: Your database should satisfy user requirements and be flexible and dynamic to cope with changing user requirements.
Database development is essential to get the most from the data that you store, but many businesses do not have the time or knowledge to gather and process data large amounts of data to optimize their performance. Here’s how database development can help your business:
- Reduce data management time
It’s not impossible to make your own database that contains all the relevant data that you currently need; however, developing a good database that contains the key properties requires specialist knowledge and a great deal of time. Database development takes the stress and strain of managing your data so that you can devote your time to other areas of the business that require your attention.
- Analyze data in new ways
A database that has been professionally developed and tailored to your business allows you to analyze data in a variety of ways. You may have data stored already that is currently unused, but through further analysis, you can turn this redundant data into a valuable resource. This means that you will be able to identify areas of your business that can be exploited in new ways to drive growth.
- Improve the quality of information
Businesses run on data; whether it’s your customer wanting to know whether you have a specific item in stock, or your logistics manager needing to know how many drivers are needed for a shift. A database that has been developed for your business provides quality, accessible and relevant data in real time so that the margin for error is dramatically reduced.
Over time, as your business gathers more information, your database will be populated with even more data that can be used to gain further valuable insights and growth opportunities for your business.