- (i)Brief introduction to my chosen organization.
The organization chosen is The Hongkong and Shanghai Banking Corporation(HSBC).
This is a British multinational bank and financial services company which originates from Hong Kong and is the second largest bank in Europe.
The bank was found by Thomas Sutherlandon march 3rd 1865 in then-British colony of British Hong Kong, a month later established in Shanghai and later in 1999 the bank was established as an international bank which has now become one of the largest banking groups in the world, with 3900 offices in 65 countries including Middle East, Africa, Asia, Europe and America, where London is based as the headquarter.
HSBC provides services of finance to banking clients such as personal, commercial, institutional and investment, corporate and private. It also has areas like: environment, community, education and projects to support volunteers and charities.
(ii) Database and Database management systems.
A database is an organized collection of information which can easily be accessed, modified, managed, updated and controlled. This is controlled by a database management system which is a software program that allows its end users to retrieve, update and manage the data in the database. These systems also help in control of the database enabling them in operations such as monitoring, tuning and recovery.
Adding on, they are several functions of the database management systems such as data dictionary, transaction management, concurrency control, recovery, authorization, data communication, data integrity and administration utility.
The database of the HSBC bank will be able to show the entities such as customer information, branch information, banker information, transaction information, loan information and customer credit card information.
(iii)Advantages and disadvantages of databases.
- Sharing of data.
This is where the end users are able to manage as well as access data easily and so they able to make any changes to the database at any given time.
- Data security.
Data being very important to the organization therefore the database management systems provides data security for protecting it from the non-end users by proper authentication means such as verifying the login in.
- Multi-users views.
Database management systems allows many users to access data at the same time which also gives ability to the users to access the database from different locations and in different ways.
- Data manipulation.
As data is centralized, the end users can easily change data such that they can easily insert data, delete data or modify the data.
- Data redundancy.
Redundancy means having multiple copies of the same data, therefore the database management systems collects all data in one file which also saves storage space.
The cost of maintaining the software, hardware and person required to manage the database is usually very high.
Databases are usually very difficult to understand due to the complex information provided.
- Cost of data conversion.
This is usually a time consuming and a difficult process of conversing the data in the computer files into a database file.
Since these database files are being therefore they take up a lot of the storage and memory which needs high processors to use. The size also contributes to expensive hardware requirements.
- Cost of staff training
As database systems are very complex and once the organization will want to implement it, therefore it will require them to train a few of their staffs to run these systems which will factor in the training costs hence making it more expensive for implementation.
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