Redefining the Data Management Strategy: A Way to Leverage The Huge Chunk Of Data
Chief Information officer ,Mr. Arun Kumar of ABC corporation was watching Television news and seen that huge IT giants like IBM are leveraging upon their existing database to manage and exploit their huge chunk of data to satisfy the needs of their customer in the most appropriate manner .So Arun was thinking of managing the data in his organization and leverage upon the optimal utilization of data so as to come up with best feasible solutions for his clients and satisfy the needs of his clients
Considering the abundance of data available in the globalized economy by business, consumer, suppliers and market. Mr Arun understood that Utilizing this huge chunk of data is extremely important for their businesses to succeed. On the recommendation from Arun, ABC corporation conducted a study to understand the various source of information and they found that the data comes from social media, machines, sensors, staff email, etc .To leverage upon this huge chunk of data and gain a competitive advantage over rivalries there is a requirement to redefine the data management strategy. In the past the company was known to the clients for on time delivery of the project and for satisfying each and every requirement of the client in most appropriate manner but as the popularity of the company has grown its client base also grown significantly as a result company is not able to manage the current client base and faces regular complaints from its clients regarding the quality of the deliverable as well as about the deadline not being met by the developers. Mr. Arun Kumar is thinking of optimizing the current the existing knowledge database present in the company ...
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...hinking of optimizing the existing knowledge base in the form of codes, database etc. Mr.Arun is worried about the growing customer base as well as the variation in the demands of the customers. Mr. Kumar is thinking about how to leverage the existing database of knowledge the company has and how his company can deliver the best to the customers. Mr. Arun is also thinking of contacting few of the consulting firms as well to resolve this issue.Arun is also gauging the option of making a different information center unit which will be responsible for optimizing the database and come up with best suitable data for the business requirement.Beacuse of the growing clientele Mr.Arun is not able to expand his business and stuck in a dilemma whether to hire a consulting firm or whether to have a separate team which will be optimizing the knowledge database the company has.
But investing heavily on IT could prove to be disastrous. A clear strategy should exist and management has to make sure that the infrastructure implemented does match with the requirements. In current scenario the technologies like data storage, data processing, and data transport is available to all and as a result of this technology is viewed more like commodity factors than an essential resource for planning strategies. This trend started because of the abundant availability of technology at moderate price. By looking at the potential of information technology, companies overlooked at the fact that; the potential value of any technology remains until it gives an edge over the rivals by bringing a change in the organization and by helping the organization to do something that others...
Databases always used to fascinate me from my under graduation with great curiosity to know how large data is managed and queried. This led me to do Masters in computer science concentrating in the field of Data Management. In the course of my study, I understood the concepts of DBMS which provides a robust and efficient way of managing and mining data. Through the courses like Database Systems (ITCS 6160), Knowledge Discovery in Databases(ITCS 6162) and Knowledge Based Systems(ITCS 6155) I gained enough theoretical and practical knowledge about the importance of proper organization of data, good techniques to build an efficient database management system and how well the data can be managed.
The information can be made into categories which can be outputted to make choices for the future of the company. Information will be kept in the database and the database will contain tools to help process the information in multiple ways.
In one of the big company, Informatica is that data integration software and services to the organisation that enable to get the advantage to compete with others. They basically based on the metadata to run the company. Furthermore, SAS, is the company that helps organisation anticipate business opportunities, empower action and drive impact. They create and manage the metadata and define access to control and manage users through a single environment. By doing this, a number of metadata are provided to import and export the metadata from a variety of sources. They also track change history to find out who made changes and when the changes took place. As the metadata stand for finding information easily, they create data items with descriptive labels to organise data items into folder and subfolder for users to find the informations. By creating table aliases to provide additional flexibility required for proper query generations, and they create predefined filter expressions so users can choose the appropriate result subset, creating prompted filters so users can dynamically select filter values when creati...
In today’s society, technology has become more advanced than the human’s mind. Companies want to make sure that their information systems stay up-to-date with the rapidly growing technology. It is very important to senior-level executives and board of directions of companies that their systems can produce the right and best information for their company to result in a greater outcome and new organizational capabilities. Big data and data analytics are one of those important factors that contribute to a successful company and their updated software and information systems.
Many businesses, especially those related to information technology, view data as a preeminent asset. Some assets, such as physical property and equipment are more obvious, but those that are less noticeable can be of greater value, define an organization’s image and success, and offer a competitive advantage. Information is considered such an asset and the collection, maintenance, and update of this asset is critical to an organization’s short and long-term success. Having information that is accurate, dependable, and current is often essential in a business’s day-to-day operations. For example, many businesses directly linked to the financial sector depend upon accurate and current information in order to perform daily financial transactions relating to the financial assets of many clients. Other businesses must have timely data in order to make informed decisions and allow daily operations to perform with optimum efficiency. Regardless of the business, it is necessary to preserve the integrity of the data and possess data that is current or real-time.
The last decade can be marked as a period of significant changes in the business world. Being accustomed to utilize computers as a powerful tool with its office applications such as Microsoft Word and Excel. In the 1990s office workers first faced the opportunity to share information using the Internet (McNurlin, 2009). However, the situation became even more different with the transition to the third millennium. With a further development of information technologies, the majority of big enterprises had to reconstitute their business processes and to make the transition to the Internet economy. Enterprise resource planning (ERP), supply-chain management (SCM), customer relationship management (CRM) software and the variety of other information systems became essential components of the new economy. It can be expected, that all these complex solutions were designed to bring great benefits for different sides of the corporate activity, in particular, decisions made by top-managers are expected to become nearer to the ideal, customer service is to be improved and collaboration more prolific. Nevertheless, to ensure the desired results it should be taken into account that the key concept of these reorganizations is an information or a data, dealing with which can be a serious issue, and wide utilizing of the data warehouses in contemporary organizations confirms this fact.
Having greater speed and capacity is important; however how a business uses this new power determines the success of big data. Several advantages are factored into the use and application of big data. First of all, working with the information gathered can now be managed with less complicated steps than with previous programs. Since there is a large quantity of information cultivated, a requirement is to allow end users to find the appropriate information quickly. Big data applications can be run by non-information technology employees. The information is able to be manipulated efficiently as self-service analytic programs are being cultivated for all executives to have the ability to gain easy access. Charts, infographics, and dashboards are now accessible to more than the information technology specialists. The next application advantage is the evolution of data analysis methods and ...
Last, Administration and Data Management for the reduction in the cost of data storage coupled with access to mobile technology. Data administration or data resource management is an organizational function working in the areas of information systems and computer science that plans, organizes, describes and controls data resources. Data resources are usually as stored in databases under a database management system or other software such as electronic spreadsheets. In many smaller organizations, data administration is performed occasionally, or is a small component of the database administrator’s
In business, making good decisions requires the effective use of information. Business Decision Making provides the opportunity of learning a variety of sources and develops techniques in four aspects of information: data gathering, data storage, tools available to create useful information and presenting. Moreover, using appropriate IT software and spreadsheets for data analysis and the preparation of information provides the advantages of using information systems which is currently used at all levels in every organization.
With today’s rate of development in technology, there has also been an immense increase in global information sharing. Innovations in technology and design seem to be emerging in the market almost every month. One of the key aspects of any business is to gather, organize and efficiently apply this information. According to Antonic (2005), economic assets are fast becoming of secondary importance in the market as companies ascribe more importance to intellectual capital. With the right application of Knowledge Management methods, companies can achieve a competitive advantage through managing the immense amount of information available (Balanced Scorecard Institute, 2002).
For the information management, in our company there are a lot of resource are spent on the information management, such as keep the data basis or relocation the information once per year. Most important software would be Excel. Our company has a lot of old information, such as the financial report, statistical data, information of the market and the information of the employee. This information can be classified better when we use the Excel.
Currently, businesses want to use the information effectively for competitive advantage to make better decisions that improve and optimize business processes, predict the market dynamics accurately, optimize forecasts to adequately maintain resources to name a few reasons.
Prior to the start of the Information Age in the late 20th century, businesses had to collect data from non-automated sources. Businesses then lacked the computing resources necessary to properly analyze the data, and as a result, companies often made business d...
In our world, people rely heavily on the power of technology every day. Kids are learning how to operate an iPad before they can even say their first word. School assignments have become virtual, making it possible to do anywhere in the world. We can receive information from across the world in less than a second with the touch of a button. Technology is a big part of our lives, and without it life just becomes a lot harder. Just like our phones have such an importance to us in our daily lives, database management systems are the same for businesses. Without this important software, it would be almost impossible for companies to complete simple daily tasks with such ease.