Disscisstion 3

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Discussion 3

Database is an essential component of modern information management systems to handle data entries of a large number of objects/users. Transaction oriented tasks lie in the category of data processing called OLTP which is an acronym for Online Transaction Processing. OLTP is extensively used in modern information systems because of the widespread use of the internet and to avoid resource and time consumption. Examples of online transactions are online banking, buying a book online, text messaging, airline ticket booking, and also telephone survey results entered by Telemarketers.

OLTP applications are beneficial in the modern financial system because they have desirable characteristics. OLTP helps us in handling big chunks of data and information, frequent updates and queries, and a huge number of users with a very fast time of response. As an OLTP system has to deal with a humongous amount of information and mission-critical data, it is necessary to have high availability and ACID compliance. ACID is a standard to guarantee that transactions are reliable as it stands for Atomicity, Consistency, Isolation, and Durability. Consider an OLTP system in which an application of a shopping cart is linked with an online retailer; it makes a highly mission-critical system. When a customer buys something from a shopping cart, only then will the retailer make money which suggests that a high level of availability and compliance of ACID is required.

Another category of data processing is OLAP which is used in business intelligence and similar purposes, OLAP is Online Analytical Processing which provides executives, managers, and analysts with adequate information to make effective and right decisions. This analytical processing system helps business owners and upper management regarding their performance and the ways it can be improved. Normally, the applications are used for marketing, management, reporting, financial reporting, management of the business process, sales reporting, forecasting, and budgeting. The number of users in OLAP is less compared to that in OLTP. OLAP system is used to convert data into strategic information from the data warehouse. In short, OLAP deals with larger queries with smaller user bases which means it is used to deal with queries of complex aggregates such as bank accounts of all customers rather than dealing with small and simple queries (What Is Database & SQL?).

By using OLAP supported tools, it is possible to analyze and interpret data that is multidimensional in an interactive way and from many perspectives. The outstanding features make it possible for analysts to obtain a bigger picture of the data by finding trends in the market. It helps in making forward planning by incorporating the framework for crunching complex numbers and by creating scenarios of a “what if” framework.

Databases are required to be updated and retailers are forced to make innovations in order to keep up with the competition and market trends. In technology and business projects, managers always look forward to completing tasks at lower costs and higher returns. Even today, requirements are now stretched out from the relational databases, and several non-relational databases are now gaining ground ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"EehIDu6m","properties":{"formattedCitation":"(\\uc0\\u8220{}What Is a Database?\\uc0\\u8221{})","plainCitation":"(“What Is a Database?”)","noteIndex":0},"citationItems":[{"id":388,"uris":["http://zotero.org/users/local/5OlhLovK/items/XDLA4NSY"],"uri":["http://zotero.org/users/local/5OlhLovK/items/XDLA4NSY"],"itemData":{"id":388,"type":"webpage","abstract":"This definition explains database, an assortment of data that is organized to be easily accessed, managed and updated, and range from relational databases to cloud databases.","container-title":"SearchSQLServer","language":"en","title":"What is a Database? - Definition from WhatIs.com","title-short":"What is a Database?","URL":"https://searchsqlserver.techtarget.com/definition/database","accessed":{"date-parts":[["2020",1,21]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (“What Is a Database?”). It is expected that database platforms supported by the cloud framework will fulfill the requirements for which non-relational databases are used nowadays. Today, the requirement of real-time processing of data is very high, especially for transactional data. Organizations are now moving towards the use of hybrid transactional databases to make the process simple and easy using simplified architecture. Real-time data analysis and operation is the need of the hour; it can be real-time targeting, fraud detection, risk management or recommendations to improve the quality of the service.

Works Cited:

What Is Database & SQL?. 2013, https://www.youtube.com/watch?v=FR4QIeZaPeM. Accessed 21 Jan 2020. BIBLIOGRAPHY

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY “What Is a Database? - Definition from WhatIs.Com.” SearchSQLServer, https://searchsqlserver.techtarget.com/definition/database. Accessed 21 Jan. 2020.