Economic Significance of Databases

The main focus of the paper upon which conclusions have been made is the case study of Tesco Clubcard system that is entirely database driven. An introduction to the activities of Tesco has been given first to help understand where the database system comes in handy. Their various operations have been deeply analyzed to attempt to prove how their Clubcard has been key to their success, a technology built upon a database. In conclusion, the enviable longtime success of Tesco has been found to have been greatly derived from the collection, storage and eventual analysis of this data about customers. The data stored has been a tool with which Tesco has realized staggering profits both locally and internationally. Although the paper acknowledges that there are few downsides to the use of databases it strongly concludes that due to the predominant benefits that Tesco has realized from the use of Clubcard, databases are invaluable tools with immeasurable economic significance.
Many will agree that we live in a society that is hungry for information aka the information era. In this era, the need to access information cannot be divorced from the daily operations of any business be it a manufacturing or service delivery based business. Storage of information about goods produced, supplied, ordered among much more information is of utmost significance to manufactures and so is the need to store data about customers and market trends to service delivery businesses. During the agrarian and industrial ages, information and data storage relied on files of written papers which served as records for future reference. Today, technology has changed this and data can be stored electronically on disks and later be easily accessed whenever the need arises.
Advancements in technology that have seen the growth of the internet where information can be shared from remote locations have driven businesses to also adopt newer and better ways of storing their data.