Databases are dynamic tools that businesses can use to not only save time and money but to add real value to their customers as well. Forget the notion of databases as information repositories that solely exist to fetch, store, and sort the data your business uses. A good database can do so much more than that. The right database can help guide your decisions in marketing, help you identify trends, and help you plan for future growth.
Types of Databases
There are a few types of dynamic databases available today, so you can select which would work best with your particular business model.
Cloud Database
Cloud databases are content collections that can be comprised of either structured or nonstructured information. The database itself typically lives on a hybrid, private, or public computing infrastructure platform.
Database as a Service (DBaaS)
Database as a service (DBaaS) is a cloud database solution that gives end users access to the database without requiring them to install or have any particular hardware or software. The service provider handles all administrative and maintenance duties to further benefits the user.
Distributed Database
Distributed databases are comprised of multiple files that are stored on different sites that can be on the same or entirely different networks. The responsibility for processing the data within a distributed database is divided among separate modes as pieces of the database are stored in two or more physical locations.
How can the right database benefit my business?
Here are just a few things an efficient database or database service can do for your business:
Keeping Customers
An efficient database will assist you in providing better customer service. The data can help you identify what your customers like the most so you can send them special offers on what they like. If you haven’t heard from them in a while, you can send them an offer inviting them back. Having the right data available allows you to have personal, caring conversations with your customers that will go a long way in gaining their trust.
Internal Information Access
A strong database puts the information you need when you need it at your fingertips. You’ll be able to quickly retrieve information on assets, expenses, taxes, transactions, inventory and more. Time is money and the time you’ll save in having help with bookkeeping, inventory, payroll, and more will equal big savings for your business. It will also free up time that you and your staff can use to tackle the more creative endeavors of your business.
Boost Marketing
Database use in digital marketing can provide of wealth of information that has infinite benefits for your bottom line. With the ability to store everything from customer email and contact information to more in-depth demographics, you can identify target markets for given products, detect trends, and so much more.
Transaction Tracking
With a wealth of information available to you at any time, can benefit your business in so many ways from helping customers track down purchases to handling audits. The ability to access specific transactions with great specificity can be helpful in so many ways.
Takeaway
These are only a small sampling of ways that a strong database can improve your business. Databases can aid you by decreasing cost and increasing productivity, sales, management and more. The right database or database service might be just the thing you’ve been seeking to boost your business and its bottom line in 2019.
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