How Much Is a Database Worth Essay - 1142 Words

Samer Shaat IS 3100 T/TH- 5:00- 6:15 How Much is a Database Worth? 1) Many small business owners have found it financially advantageous to purchase their own building. As one owner remarked upon his retirement, â€Å"We did well with the business, but we made our real money by buying the building.† Explain why this might be so. There are three reasons why a small business owner might want to own the building in which they operate. First, the cost of moving around is expensive. Some small business might need large equipment to operate and completing a move might take months. This would interrupt the flow of the business and put a dent in profits. FlexTime is a good example. FlexTime, a gym has an array of workout machines that would be†¦show more content†¦Now, in 2012 it is evident that his theory is true. In 2050, small business owners will make the above statement because like described about real estate in question one, the owner of the business may sell his database upon retirement. Along with real estate, data or information does not depreciate in value. There are some differences. Some databases have been collecting important data, related to customers, for years. This information could prove to be more valuable than real estate to a competitor in one’s respective industry. Informa tion on customers is priceless. A detailed, in depth database is instrumental in finding out customer needs, habits and reactions to discomforts in the market and can contribute immensely to a small business owner’s success. 3) Suppose you had a national database of student data. Assume your database includes the name, email address, university, grade level, and major for each student. Name five companies that would find that data valuable. And explain how they might use it. Corporate gyms like La fitness and Lifetime fitness would find the student records named above useful. Using the name field they could figure out if the student is male or female. From there they could decide whether to offer jazzercise or boxing classes. Based on what university they belong to the gym can figure out if they have a location in that area to pursue the student. Using e-mail address they could send out promotion deals. Chegg.com is anShow MoreRelatedDoes Outsourcing Data Uphold The Enterprise?1469 Words   |  6 Pagesdata to manage often find themselves outsourcing their databases. This particular arrangement depends on many factors, such as trustworthiness and reputation. Each business requires different coverage from the outsource provider as well as different costs requirements. Many providers offer cloud based services, in house managed services, near and offshore and outcome-based consulting. 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