FinTech 101: Effective Database Management Is Essential For Business Growth

The Information Age Compels Business

In 2018, for the first time, more people accessed the internet through mobile devices than “stationary” ones. Tablets, laptops, smartphones, and other IoT (Internet of Things) devices are the primary web portals people use today. They generate quite a lot of data. You’ve got information pertaining to apps, traffic, security, and more defining daily operations.

Mobile Device Management (MDM) is something you’re going to need to think about today. Proper MDM looks like this: you’ll be able to access devices remotely, allow them on your network or keep them from your network, deactivate them, update them, and monitor them from a central location. Naturally, this is going to generate a lot of data.

Beyond traditional network considerations, you’re going to deal with clientele at your business. Have you heard of CRM? That stands for Customer Relationship Management. CRM software allows you to build “packages” of outreach around specific clientele so you can proactively manage their buyer’s “journey”.

Before, there was a “sales funnel”, today the term is “sales flywheel”. The concept is building momentum around existing clientele through reviews and the like as a means of marketing leverage to attract more and, hopefully, even better clients. Again, this is going to generate a lot of data. It’s the information age, you’ve got to know how to manage data, here are tips.

A Clear Logging Framework

If you’ve got an application for your business, errors, exceptions, and other instances will generate data you need to be able to reference quickly, easily, and effectively. You need a logging framework in play, and that’s going to generate data that must be retained over the long-run. Clear logging helps you rectify operational issues and maintain a solid record.

Such logging doesn’t only pertain to applications. You’re going to have a domain name for your website that will require updated site design. Traffic needs will generate issues, and you need to know where digital bottlenecks are so you can overcome them.

Continuous Network Updates Pacing The Market

Cloud computing technology can be hybrid, private, or public. Through the cloud, you can actually host your entire network. Your servers can be virtually simulated through a server array that gives you faster, more secure functionality. If you’re hosting things internally, you’re not going to have access to the latest solutions.

It turns out that technology transitions in increments of eighteen months. Every eighteen months, another “Moore’s Law” period has transpired, and the capability of technology has doubled on itself. This is textbook “exponential” growth. If you’re going to retain relevance, you’ve got to manage data in a way that can move forward as the market does.

Decentralization And Competitive Viability Retention

Because of cloud computing and the internet of things, it’s possible to totally outsource your network server needs to the cloud. You can cut out hardware costs and space. Additionally, you can excise the expenses of a central office—depending on your business, of course. BYOD stands for Bring Your Own Device. DaaS stands for Device as a Service.

Through a BYOD model using DaaS, you can “rent” personnel network access portals at a predictable monthly cost, giving them access to your network, and the ability to perform work for you regardless of their location. You get the same level of output, and by many accounts, better output, at a reduced cost that expands profitability. Additionally, data is better managed.

Managed Databases Facilitate More Sustainable Operations

It’s essential to choose database management systems allowing you to clearly manage varying software applications, keep networks optimized, and court decentralization as fits operations. With apps, CRM, and internet-generated data, you’ve got a lot to consider. For more information on database management systems, check out DNSstuff’s blog post.

To retain competitive viability in today’s market, you’re going to need clear database management practices. These don’t arise organically. You’ll have to strategically implement them. That said, once you get a proper database management paradigm in play, you’ll be able to maximize operational functionality over the long-term.