Look at any successful business and you’ll find that they know how to organise and process their information. Today’s organizations are relying on more data-driven decisions to achieve their goals.
As the quantity of data increases, so does the need for data management systems. According to a report by TechSci Research, the demand for database management systems in Australian businesses is expected to grow to 11 per cent in 2024.
How Databases Improve Your Business
A database management system helps your business in several ways, including:
- Effective data integration: It is easier to see how your processes in one area of the business affect another area.
- Compliance with regulations: Data management systems minimise your risk of breaching data privacy and security regulations.
- Increased productivity: With more organised data, your team can make quicker, more informed decisions that can contribute to the success of your organisation.
Choosing a Database Management System
Not all database management systems are the same. Some features fit certain business requirements and budgets. Here are things to consider when selecting a database for your business:
Database Software Type
Offers in the information management space have grown from traditional databases to specialised products. Some types of database software include:
- Desktop-enabled databases
- Server-based databases like Oracle, Microsoft SQL Server
- Web-enabled databases like Microsoft Access Cost
Select a system that best meets your needs. At the bare minimum, you’ll want a database that you can customise and update frequently. Make sure that database vendors, especially the server-based and web-enabled databases such as SQL Server have reliable support.
How Your Business Will Use the Data
Your choice on a database software depends on your organisation’s budget, size, and purpose of use. Create a strategy and a financial summary that explain the scope of the software on your business needs. Consult with relevant team members to decide what information you want to organise and how you’ll use and access it.
Every database vendor provides different security options, but you should not compromise on data encryption. This security measure scrambles data stored in the database so that anyone without the decryption key will not see the real information.
Make sure that the security measures help you follow relevant guidelines. For example, if your business handles credit card payments, you must comply with guidelines by the PCI Security Standards Council.
Consider how the database will be user-friendly for the employees required to use it. You might also want to set different levels of permission for different personnel. For example, only human resources and upper management can view files for hiring and recruitment.
Visualisation and Reporting
Check how the database management software displays information and results of your campaign. The software should easily process data in a way that you can understand quickly. You and your team should also find it easy to find results from your queries in the database.
Choosing the right database software isn’t always simple. However, getting it right is essential to the future success of your business. With these factors in mind, you can find the software that meets your business needs.