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10 Advantages of a Business Intelligence Database that Gives your Company an Edgeby Forrest Sass, President FMAssociates.biz It
may seem obvious why someone would want to use a database. After all, it
helps you organize data, right? Actually, it goes far beyond just that. A
well-designed database application helps you find and see data in ways
that help you make good decisions.
Business Intelligence describes the gathering, organizing and analyzing business data in order to make better business decisions. The term implies having a comprehensive knowledge of important business factors. Until recently, this information was available only to companies with very large budget. Today, even small companies can take advantage of relational databases to fully understand their business.
A "Business Intelligence" database is specifically designed to enhance management's ability to understand their business operations and make good business decisions. It is imperative to have an in depth knowledge about factors such as your customers, competitors, business partners, economic environment, and internal operations to make effective and good quality business decisions. (a)
Inexpensive, simple databases that are commonly available
off-the-shelf or online. The problem with these products is that they
usually cannot be modified into a true relational structure that helps
management see their company from multiple perspectives. (b)
Expensive relational databases. The problem with these products is
the time and expense of development. (c)
There is a third class of database - a custom, rapid development
platform. FileMaker makes software to develop this type of database. This
kind of database provides "the best of all worlds". FileMaker
applications can be developed rapidly and therefore relatively
inexpensively, yet have a powerful relational structure. Why
would you use such a program? Here are 10 advantages of a shared
relational database: 1. Sharing information Sharing information among employees is one of the biggest reasons to use a database. One employee may contact a customer and then make notes about his conversation. The next employee about to call this customer can read those notes and understand the situation before calling. 2. Data accuracy Client
data, for example name and address, resides in just one place. So long as
that data is accurate, the client information will be reproduced
throughout the database system accurately. Changes need only be made once,
and any change will be automatically made throughout the system.
There is reduced data redundancy, fewer updating errors and increased data
consistency. In another example, estimating project costs becomes far easier and more accurate. Materials cost is stored and maintained in the database. The estimator needs only enter the specifics of the job and the estimate is automatically and accurately produced. 3. Data sorting and viewing Imagine viewing, printing or charting this information with the click of a button (or two):
The data reporting possibilities are endless, and relatively simple to obtain. 4. Efficiency Since data is entered or changed only once, you eliminate the need for repetitive (and in some cases, hand-written) data entry. This means reduced data entry, storage, and retrieval costs. 5. Remote access You're
on the road and need to retrieve some customer order and shipment
information prior to your meeting tomorrow. With a laptop and FileMaker(TM)
software, the process is simple. Your information is available 24/7. No FileMaker software? You have the option to access your database using just a simple web browser like Explorer or Firefox. Your information is protected from unauthorized web access by requiring an ID and password. 6. Finding related information Need to know what materials are used in a particular job? It's a snap with a database. Want to know sales by customer? A database makes it easy to find. Using an in-house mail list? Find duplicate company names or personal names in seconds. 7. Information accessibility Forget spreadsheets or paper forms. All of your critical business information in located in a database, instantly accessible and in one place, reducing data entry time and allowing you to build meaningful reports for your business. 8. Information security No more confidential papers laying around. Employees have access to secure information on a need-to-know basis. This access can be tailored on a employee-by-employee and page-by-page basis. Furthermore, all of your data can be backed up every few hours and then stored offsite. Even in the worst of circumstances, your data loss would be minimal. 9. Cross platform compatibility FileMaker, the software program that FM Associates .com uses, runs simultaneously on both Windows and Mac platforms. 10. Low total cost of ownership Enterprise-level databases like Microsoft's SQL (pronounced sequel) Server, Oracle or IBM's DB2 are fine for large companies with thousands of simultaneous users, but they can also be pricey. If you have just a handful (no more than a couple of hundred) of simultaneous users, small business databases provide a very attractive low total cost of ownership. Many, including FileMaker, offer free business database starter packages that take care of many common business functions. By using these programs, you can be up-and-running almost immediately. Best of all, these started programs can be later modified to suit your business needs. |
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