Benefits of Developing A Database

The Many Benefits of Creating and Using a Database
By Fran McCully

We all need to keep track of information, whether it's a list of phone numbers, a mailing list for postcards or newsletters or information for hosting a mastermind group. A database can be a useful tool for organizing your information. A database gives you more control and accountability over how your information is managed and stored. There are many programs to help you create your own databases, Excel for example has built in tools to help you keep track of data and to find specific information when you need it. Microsoft Office Access is also a great database tool and can be linked to Excel.

What can a database do for you?

• Collect contact information accurately from large groups.

• Run reports daily, weekly, or monthly.

• Track your most valuable customers so you can target your marketing.

• Track the condition or status of assets and inventory.

• Keep track of not only who's on your guest list, but where they're staying, and what they are eating.

• Keep track of your customers' key information, buying habits, and more.

• Track projects, tasks, and the people assigned to them.

• Track the progress of team activities.

• Manage quotes and create invoices.

• Establish your pricing and keep track of your competition.

Databases save time - A database pulls up information with a simple query, rather than rummaging through endless piles of paperwork a user can enter specific keywords in order to recall information.

Databases are secure - File cabinets can be stolen, lost or destroyed. A database can be password protected and stored in a remote facility adding another level of security to valuable information. Databases are inexpensive managers - After the initial investment a database will save money over the long term by improving efficiency of employees, saving on paper costs and impressing customers who will not need to repeat their information.

Databases aid in communication - If your company has more than one branch a central database can be viewed by all employees creating a cohesive work environment. You can also make your business more competitive by tracking important trends such as which product are most popular with your customers.

Information is king in the business world. It is important to deal with data in an organized fashion. Customer names and information need to be logged, reports need to be generated about product demographic, customer surveys and profits to name just a few important areas.

Database management is another area that small business owners especially don't have time to look after. It takes time to organize this information and that takes you away from the business of selling and creating new products. A business captures data in order to grow. They would discover their strong areas, weak areas or whether past and future marketing campaigns were a success.

There are considerable advantages of using a database for keeping and managing information.

If you are a business owner, creating a database can save you time and money, however creating the database it's self can be time consuming and costly. Consider hiring a virtual bookkeeper or virtual professional to create one for you and save yourself the hassle and headache of doing it yourself, then enjoy the benefits of saving time, increased communication, more security and more efficiency within your business.

Fran McCully of Your Administrative Solutions specializes in bookkeeping/accounting, database and business-plan development, and human resources. Fran partners with small businesses, micro companies, solo-preneurs and individuals. To receive your free report, "Know Your Cash Flow," and discover additional resources from Fran McCully, Financial Strategist and Bookkeeper, please visit http://www.YourAdministrativeSolutions.com

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