Learnings

DATA MANAGEMENT

Data are a vital organizational resource that need to be managed like other important
business assets. That's why organizations and their managers need to practice data resource
management, a managerial activity that applies information systems technologies like
database management and other management tools to the task of managing an organization's
data resources to meet the information needs of business users.

The Data Base Management Approach emphasizes: (1) updating and maintaining
common data bases; (2) providing information needed for each end-user’s application by
using application programs that share the data in common databases; and (3) providing
inquiry/response and reporting capability.

Data Base Management Systems are software packages that simplify the creation,
use and maintenance of databases. It is a set of computer programs that controls the
creation, maintenance, and use of the data bases of an organization and its end users.
4 Major Uses of DBMS
1. Database Development
- Allow end users to easily develop the databases they need.
2. Database Interrogation
- End-user can use a DBMS by asking for information from a database using a query
language or a report generator.
3. Database Maintenance
- It is accomplished by transaction processing programs and other end-user application
packages.
4. Application Development
- Application developers can use the internal 4 GL programming language and built-in
software development tools provided by many DBMS packages to develop custom
application programs.
 Analytical
Database Data
Operational Warehouses
Database

Types
of
Hypermedia Databases Distributed
Database Database

External End User

Database Database
 Data Resources Management
1. Database Administration
- An important data resource management functions responsible for the proper use of
database management technology.
2. Data Planning
- A corporate planning and analysis function that focuses on data resource management.
3. Data Administration
- It involves the establishments and enforcement of policies and procedures for managing
data as a strategic corporate resource.

Components of Database Environment

1. Database Administrator
- Person who are responsible for the overall information from database
2. System Developers
- These are persons who design and develop new application program such as
programmers and system analysts.
3. End User
- Persons within the organization who operate and modify data in the database, and who
request or receive information from database.
4. User Interface
- These are languages, menu and other facilities wherein the users interact with various
system components.
5. Application Programs
- It is used to create and maintain a database that provides information to its users.
6. Repository
- Contains all screen and report formats, all data information, and definition of other
organizations.
7. DBMS
- A commercial program that is used to create and maintain the database.
Insights:
Data management plays a critical role in the functioning of organizations
across various sectors. By ensuring that decision-makers have access to accurate
and timely data, it facilitates informed decision-making, which is essential for
success. Efficient data management streamlines processes, enhances productivity,
and reduces the time employees spend searching for information. Moreover, it
ensures compliance with data privacy and security regulations, safeguarding
sensitive information and maintaining customer trust. Effective data management
also contributes to cost reduction by eliminating duplicate data and inefficiencies.
Furthermore, it forms the foundation for business intelligence and analytics
initiatives, enabling organizations to gain valuable insights and maintain a
competitive edge. Ultimately, by managing data effectively, organizations can
enhance customer satisfaction, drive strategic decision-making, and optimize their
overall operations.
Learning data management is invaluable for Certified Public Accountants
(CPAs) and Accounting Information Systems (AIS) practitioners, enriching their
professional toolkit in numerous ways. Firstly, it boosts efficiency by streamlining
accounting processes, freeing up time for more strategic tasks like financial
analysis. Secondly, it ensures accuracy in financial reporting, vital for regulatory
compliance and informed decision-making. Through mastering data management
techniques, CPAs and AIS practitioners can navigate complex regulatory landscapes
with ease, adhering to standards like GAAP and GDPR. Moreover, it empowers
them to make data-driven decisions, leveraging insights from well-managed
financial data to drive business success. Additionally, effective data management
mitigates risks such as fraud and data breaches, safeguarding financial assets and
reputation. Finally, it opens avenues for value-added services like financial
forecasting and performance analysis, enhancing their role as trusted advisors. In
essence, learning data management elevates the capabilities of CPAs and AIS
practitioners, enabling them to excel in their professions and deliver greater value to
clients and organizations alike.