A database is collection of data, organized in digital form. There are several databases available in the market which are differentiated based on their functions. Examples of such databases are document-oriented database, embedded database, graph database, hypertext database, operational database and distributed database.
As technology advances, the need for more agile and prompt solutions is growing. Enterprises have also turned toward real-time information for more efficient and effective decision making. As operational databases meet these needs, they are expected to find sustained growth in the market during the coming years.
Furthermore, they offer better integrity, reduced data repetition and independence from application programs. They are also cost efficient as compared to traditional databases. Additionally, these databases can be easily modified based on the business rules. There are numerous customizations offered by operational databases including data formatting, error tracking, and validation of data. Operational databases also allow multiple users to edit data simultaneously, which is an important factor driving the growth of operational database market.
Databases are integration of complex hardware and software systems. Designing and development of databases is a complex undertaking. Building a suitable database architecture keeping in mind the future needs is very crucial for an organization.
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Additionally, the cost associated with customizing the database is high and may require frequent changes in the system making it difficult for small organizations to adopt these changes. Data breaches, security threats and reluctance of small and medium-sized enterprises to invest in IT systems are some of the factors hindering the growth of operational database market.