Large Companies Adopt Tech for Efficiency: Challenges & Opportunities - Research Paper

Introduction

Despite my company is large, it has adopted the use of technology and information in a bid to increase the efficiency and effectiveness of delivering services to the clients. It is because the world of data and information is continually changing with various alterations every single time that elapses. The above, in turn, has triggered the creation of an entirely distinct perspective of growth and resulting challenges for companies around the world.

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As such, the companies have to regularly and accurately record data and information, updating and tracking them. Through the database system, the company collects data that is updated and use the same information to achieve the goals and objectives systematically and to empower the organization. Activities that can be made using the data include the creation of accounting reports, formulation of the customer invoices, and calculation of the financial estimates. Both businesses, whether small or big, are entitled to an efficient database system for various reasons.

The Necessity of a Database System

Customer Relationship Management

A database system will help a business to keep in check of its customers. A database system will organize the company in terms of its accounts, the contacts, and the opportunities that it is exposed to. In communications, all the customer information will be included. The data might be composed of his last order, a list of his or her favorite products, and the sales calls (Watt, 2014). As such, the customer will be used to manage the marketing and promotion of the company.

Inventory Tracking Database

A database system is of the essence of the company when it comes to the tracking of inventory. It has to tell the business of the amount of stock that is in the warehouse by the use of the integrated bar codes and scanners. The movement of the products will be monitored from one place to another within the organization. As such, the organization will be alerted when the product supplies are running short

Payroll and Scheduling

A database system is necessary for the management of employee information, which in turn aids in making payment schedules to prevent errors in the payroll. A database, as such, will contain employees' information concerning the hourly pay, any form of salaries and commissions, the tax withholding rates, and the accrued vacation time. The database will also encompass the contributions made for such things as insurance and retirement accounts (Seriin, 2019). Two or more databases can be combined for efficiency.

Business Data Analysis

Databases are useful in the collection and storage of the information that concerns the business. Useful databases for the company have reporting features that carry a lot of information to make them valuable resources used in the data analysis that can determine future trends of the company. For instance, when it comes to productivity, the database can forecast the days when production is low or high to warrant the adjustments of the company. The database can also help in predicting the behavior of the customers in a bid to the company fulfilling their needs.

Information Collected and Provided by the Database System

The database system in our organization collects varied data and information depending on different factors that are to be addressed by the report. The database system collects account information for the customers, there contacts and lead opportunities. The above information collected is essential in enhancing marketing and promotional services for the company. In return, the database will provide information concerning the marketing trends in terms of the customer base and sales patterns of the company (Coordinators, 2018). The database system will also provide the means possible for reaching out to the customers to publicize the company.

The database system also collects information concerning the inventory of the company. All the goods found in the warehouses of the organization are kept track. The above is facilitated through the bar codes and scanners. On the other hand, the database provides forecasts on when the inventory will be short of the supply and the available amount to run the operations of the company in due course.

The database collects information regarding the employees' working time, their different rates of tax, and their accounts. The above aid in the provision of commissions concerning the employee's performance, charges are also efficiently remitted to the concerned bodies through deductions that are automatically made by the database system (Coronel & Morris, 2016). Lastly, productivity reports are also collected, which in turn, the database tries to forecast and predict any future trends regarding the slowing down or a rise in the same so that the company responds appropriately.

Database Management System

Our company uses the Oracle Database Management System due to various reasons, which include the compatibility that the company's applications have with those of other companies. Oracle has a variety of products that are certified in the delivery of a unique experience. The products range from storage, networks, operating systems, applications, and computing. Oracle systems are designed to simplify and optimally utilize the organizations' resources in the course of delivering a record-breaking performance.

Oracle database products are quickly available, affordable, and reliable at the same time as compared to those of other companies. As such, it is easy to maintain (Parveen & Maiman. The performance of the Oracle database management system allows for the integration of all organizations' software and methods found in various departments. Oracle database management system is designed with scalability in the sense that the servers can support multiple processors during operations. in addition to the above, I would like to discuss "Improvement of data sharing and data security."

References

Coordinators, N. R. (2018). Database resources of the national center for biotechnology information. Nucleic acids research, 46(Database issue), D8.

Coronel, C., & Morris, S. (2016). Database systems: design, implementation, & management. Cengage Learning.

Parveen, M., & Maimani, K. (2014). A Comparative Study between the Different Sectors Using the ERP Software in Jeddah Region-KSA. Life Science Journal, 11(3s).

Seriin. (2019, July 18). 4 Important Roles of Database Management System in Industry. Retrieved from https://www.educba.com/database-management-system/.

Watt, A. (2014, October 24). Database Design - 2nd Edition. Retrieved from https://opentextbc.ca/dbdesign01/chapter/chapter-3-characteristics-and-benefits-of-a-database/.