Information is Wealth

Man realized very early that his memory was limited. But by then there arose a need in him to gather and store information. This invented the very first method of data storage, mainly in form of written records, both in cloth or papyrus and eventually in paper. This was the customary way of recording data during the days of the Kings and the Queens. This even continued at the start of the modern age, during the late 60s and early 70s.

And then the real problem surfaced. The problem was due to increase in the amount of information to be stored, due to various factors like increase in the human population to the diverse ways of making income in the society. And this meant huge amounts of data on a daily basis. The solution was a system to record data of such huge amounts. There was one more additional requirement, that of to store not only the incoming new data but also to store and maintain the data collected earlier and make them available when necessary. The system that was the solution was a DATABASE SYSTEM.

Data now, across the world, in huge monstrous amounts are being keyed into many databases around the globe and used for business purposes. This system also reduced the space for storing these data. No more rooms with stacks and stacks of dust layered files and cabinets of data.

A Database system has its own method of storing data. The data inside this system is organized, usually in the form of records and tables. A Record can be considered as a set of related information. A Table is a collection of many such records. Many such tables, classified based on the functionality can be maintained to store data. This makes the data storage organized and easily accessible.

There are numerous advantages of such a system like the classification of data which made the retrieval system easy. Data which can be stored easily was even accessible with little or no effort. The Database systems also allowed multiple systems to read and write data (with certain restrictions) to it, which made them as a single central repository of data and reducing the redundancy of data. The other uses of a Database system in the real world are for Business reporting purposes. This requires the reporting system to chew through the tonne’s of data for reporting purposes.

One new and interesting concept related to the Database is that of Data Mining. Simply put in, data mining involves digging through and analyzing enormous amount of data and extracting the ‘MEANING’ of the data. They detect a pattern in the data and help in the business decisions and processes. This concept is a boon to the current business world to predict the current trend in the market and act accordingly.

With all the pros and certain cons, a Database system has become a necessity with almost any business application in the world. Storing, retrieving, managing and analyzing data is after all not an easy task.

As someone said, INFORMATION IS WEALTH.

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~ by Jayanthan Ravi on May 7, 2007.

One Response to “Information is Wealth”

  1. This is related to Management Information Systems… So you got what I ll learn in next 1-2 years… 🙂

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