The Importance of Utilizing the Large Databases - Essay Example

Introduction In the current age of rapid globalization and industrialization, competitiveness and sustainability are the most essential requirements of any organization operating in any segment. In order to achieve both of these objectives and goals, it is essential to formulate long as well as short term strategies after analyzing the market situations and demand of the customers. Not only this, strategy formulation is also essential for maintaining a dominant position in the market. This essay mainly focuses on the importance of utilizing the large databases or other IT resources so as to introduce new types of strategies. Along with this, it also focuses on the impacts of developing innovative strategies by the help of databases and other IT resources. Importance of Developing new strategies from analysis of Large Databases and Other IT Resources Now a day, existence is the most essential requirement of an organization because of competitive business environment around the globe. Along with this, enhancement of profitability is also important for the improvement of the organization in long run. So, most of the members of the management team desire to analyze the market situations and changing scenario, prior introducing or formulating the strategies of the organization. This is because strategies act as a positive source or ideas essential for the sustainability of the organization. However, it might be effective only if appropriate information or strategies are implemented within the organization. Otherwise, it might become an utter failure for the organization in terms of profit margin as well as brand value (Simerson, 2011). If the strategies implemented or formulated are not as per the requirements, then it might lead to negative impacts. The brand image and reputation of the organization might reduce and resulting downfall of the reliability and trust of the brand within the minds of the customers. If the customers switch over to other rival brands, then the brand may never sustain in the market for long time in the market. So, it is extremely imperative that the organization might attain or formulate accurate information to continue its supremacy or competitiveness. In this recent age, the most imperative process to formulate accurate strategies or information is by analyzing the databases. This is because it offers highly reliable form of data and information that might facilitate for the betterment of the organization. Along with this, it might facilitate in the enhancement of the value of the market shares leading to amplification of its profitability and market share. Along with this, if the profit margin increases, then more and more workers or employees might get engaged within the operations of the organizations thereby improving the rate of productivity. Not only this, if new and talented employees get recruited within the organization, then varied types of innovative ideas and information might be presented to the management leading to organizational effectiveness. So, it is highly preferred by the employees and management members of the organization. Other than this, varied types of IT resources are also present in this age to access numerous types of information that might prove effective business operation for the organization in future era. It is highly preferred as it offers organized data or information to formulate the best types of strategies or policies. Therefore, implementation of such policies helps to tackle a sort of change management process or situational hazards in an effective way. Due to such reasons, it is described as one of the most essential and beneficial method utilized for the formulation of policies and strategies for the organization. Another imperative aspect of using databases or IT resources is that it helps in presenting better decisions in a very short span of time. And it helps in improving the efficiency of the organization in long run. Side by side, the organizational members also might also prepare the reports in a very small time period, which is highly preferred by all. Moreover, it also helps in 30% increase in the output of an organization due to this method (Simerson, 2011). However, to access the database or IT resources in an accurate way, it is essential to offer specialized sort of trainings to its users. This helps in enhancing the capability and inner talent of the employees and their understanding power also gets improved. By doing so, the employees might extract right amount of information after evaluating the situation changes. Then the time required to evaluate the varied policies again by the higher authorities gets reduced and so proper training of the software is extremely essential. Therefore, in this way the organization might increase its performance and revenues as well. Benefits of the databases or IT resources Helps in saving Time Databases help in saving time to find any specific information. This is possible only because, retrieving a single record might take some minutes in searching manually from the paper files. But to attain the records from computerized database may be done just by some clicks. Along with this, proper merging of the database records with documents also helps in reducing high level of tensions and distress of data entry. Moreover, still after completion of the writings, one had to check spellings, addresses, historical data, or other records. More Information may be accessed Databases also offer varied types of ways to access data and information. If a specific list of information is requested from the database, then a query may be presented to attain that. It takes very small amount of time to present those requested data in front of the users’ eyes. In this way, the IT resources also present the list, if the proper commands or given to the computer. Then immediately that list of data or information is saved in a spreadsheet and used for future evaluation of the organizational betterment. Ability to Link Data Databases also allow you the opportunity to link varied sources of information or data together so that if might be noticed. Previous sales records and new financial year targets may be witnessed so as to analyze the techniques to achieve those. Other than this, the strategies are also presented before the employees so that, the sales target might be achieved very easily to increase the productivity of the organization. Apart from this, it also helps in improving the profit margin and efficiency of the organization. Mass customization through social networks It also presents the ability to provide the database reports to thousands or millions of other potential customers so as to analyze the information and data gathered from these resources. These reports may be provided by the social networks like Twitter and Facebook to other friends and peers. This helps in evaluating the effectiveness of the information essential for organizational betterment. So, it is highly preferred by maximum extent of the organizational members or employees to cope up with situational changes (Simerson, 2011). Data sharing The data or information gathered from the databases or IT resources might also be stored very securely as well as might also be shared by other multiple users. It also helps in satisfying the essential requirements of the organization thereby amplifying its portfolio and reliability of the brand in the market among other competitors. Side by side, the competitive advantage also enhances resulting in amplification of its productivity and quality of products. This is possible only by sharing of varied ideas and information of the others (Simerson, 2011). Data security The securities of the data or information present within the databases or IT resource software are extremely secured as compared to others. So, any sort of external protection is not at all essential for the user and due to which, its level of consideration is extremely high as compared to others. Moreover, it also presents the option of giving passwords so that any other user may not access it easily for any other rival organizational upliftment. This is another significant advantage of databases or IT resource software. Backup and Recovery The information acquired from the databases or IT resources also presents the facility of backup so that I case of loss of the data, it might be attained just in few minutes. Moreover, due to such facility, loss of excess time may be saved along with tension and harassment. Data access by users at any point of time Due to the presence of information technology, the information or data required for the betterment of the organization might be accessed at any point of time. Just by presenting the query command, the data might get displayed on the screen and the user might avail it. Thus, from the above discussion, it may be depicted that uses of databases or IT resource software is extremely essential as compared to any other technique. This is because it is extremely effective and safe as well. Conclusion Conclusively, it might be depicted that all the organization might depend on the databases or IT resources for formulating varied types of strategies to improve organizational efficiency. Proper formulation of strategies and policies also facilitate the organizations to cope up with any sort of situational crisis just as entrance of numerous new rivals, loss of the values of the market shares of the organizations, lack of brand image and equity and loss of the reliability and trust of the brand within the brand or its product lines. Reference Simerson, B. K. (2011). Strategic planning: a practical guide to strategy formulation and execution. U.S: ABC-CLIO. Read More