With the growing amount of information in the market, it is becoming more and more important to handle data flow on your own. Thus, the role of databases becomes all the more important to structure data and manage it.
When it comes to business, firms are slowly understanding that it is important to use analytical systems properly to gain a competitive advantage over others.
In this article, we would be talking about database marketing while highlighting the top database industry trends that are expected to shape the future of the database market.
What do you mean by Database Marketing?
Database marketing can be understood as a form of direct marketing that utilizes the databases of customers for generating leads for direct marketing communications.
These databases generally include customers’ names, phone numbers, addresses, e-mails, information requests, purchase histories, as well as other data that can be accurately and legally collected.
Such information can be collected through different application forms such as forms for free products, contest entry forms, credit applications, product warranty cards, as well as subscriptions to newsletters.
Trends in Database Market
There are several ongoing as well as upcoming trends in the database market. These are as follows:
1. Rapid migration of the database to Cloud
The Cloud has been in the market for years, however, if a business moves a database to the Web, it is still considered more as a trend than a solution. This is several firms still approach the migration with security concerns and other reservations. Cloud costs can also be a barrier for many.
Today, with cloud solutions having more security overall along with the reducing costs, it is expected that a greater number of databases would appear on the Web in the near future.
2. Linking NoSQL and SQL databases
Although NoSQL databases have been in the market for quite a few years, however, one cannot say that they have become equal to the traditional SQL systems.
One major challenge while organizing data is that it comes in different forms. Database developers are today trying to find out new ways to bridge the gap between NoSQL and SQL databases.
3. Simplifying database software
The simplification of databases is also becoming one of the major trends among the software makers. This is because databases today are no longer locked in separate rooms, or administered only by trained professionals.
For example, Web-based database software ensures that the customer does not need to interact with the technical part. Simplifying database software affects not only the usage of databases but also their development over time.
4. Analyzing data in real-time
Data is only a set of numbers and symbols. One needs to know what is to be done with the data. After sorting the data, the next step is to analyze it. Initially, the analysis used to be the sole responsibility of human beings.
However, this becomes difficult with the huge amount of information available in the market today. Thus, real-time data analysis is today shifting to computers, and this is becoming one of the important functions of business data software.
5. A shift to mobile
In the present scenario, users are constantly connected to the Web through different platforms as well as multiple devices. Mobile computing is thus increasing exponentially and it is motivating vendors to search for new methods to access or work with data over tablets or smartphones.
This requires a mobile device to be active and thus one also needs a fast network connection for accessing the database. Also, a simple, reliable, and convenient application must be developed that is fully functional even without any network connection.
Conclusion
The database market is looking at a quantitative shift. However, it is also important to focus on the qualitative shift. Such signs of transformation have already started and can be seen through the above database industry trends.
Danis Woods in Businessman, investment banker and stock exchange traders. On the same time he loves writing financial blogs to shed lights on different aspects that new and existing businessman are not aware of.
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