"Database Trends" Please respond to the following:
Identify at least two industries that are currently using common data exchange and data management trends. Rank the success of each implementation based on the ease of implementation, ease of use, and costs.
Speculate the data exchange and data management trends that may take place in the next five to 10 years. Justify your response.
Classmate:
Large Corporations run their business operations on large scale, they store and operates large amounts of data. This data is so important to any organization that it has to be secured and not exposed to external vulnerabilities.
The modern business environment and the explosion of e-commerce has facilitated the rise of data exchange and evolution of improved data management systems. These two trends help in exchanging data between systems and managing data.
Industries currently using these trends are Agricultural, Energy, Information and Technology, Manufacturing, and Environmental Protection agencies. The prevalent business organizations using these technologies are: Environmental Protection Agency, Oil and Gas exploration and production (E&P) industry and Storage Networking Industry Association.
Based on the cost and benefits analysis as well as the ease of implementation, the Oil and Gas exploration and production (E&P) industry ranks higher than the other industries.
Data exchange and management trends ultimately reduce the cost of information and also reduces the cost of replacement of software that now have improved functionalities. E & P companies are utilizing these trends to exchange data in several formats such as: XML, Well site Information Transfer Standardized Markup Language (WITSML) and production data exchange (PRODML).
Data Exchange and Data management enhances automation and optimization so that E & P firms can perform efficiently while optimizing their business operations. These trends can be used and implemented easily using inbuilt APIs while some tools have inbuilt capabilities to provide data exchange features.
A world leading company of 3D design and software named Autodesk is using Data Exchange and Data management to provide effective collaboration among organizations resulting in the ease of management of large amount of data. Autodesk uses large number of formats to exchange information such as: XML and GML, gbXML, ODBC and LandXML, CIS/2 and various other supported formats.
Autodesk uses data exchange trends in architectural, engineering and construction industries with CAD software and tools. Large amount of user data is organized and managed by deploying data management tools.
The cost of implementation is reduced because only a one-time cost implementation is required. CAD tools however, have inbuilt features for data exchange.
Data exchange standards support large number of formats for data exchange. Modern organizations use these trends to have backup solutions by exchanging data between systems and as well as servers. These current trends provide efficiency, scalability and reliability in modern business processes.