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As companies grow their data storage needs grow more complex and many small businesses soon grow to need a more manageable approach to local data storage. At julla's Cookies, it only took a few months before they needed a more robust data storage solution than Excel. Choose from the list below a database solution that a small startup company may use. O Microsoft Outlook Orade DBMS O MySQL Microsoft Access

As companies grow their data storage needs grow more complex and many small businesses soon grow to need a more manageable approach to local data storage. At julla's Cookies, it only took a few months before they needed a more robust data storage solution than Excel. Choose from the list below a database solution that a small startup company may use. O Microsoft Outlook Orade DBMS O MySQL Microsoft Access

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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### Understanding Data Storage Solutions and ERP Systems: An Educational Insight --- #### Question 3: As companies grow, their data storage needs grow more complex, and many small businesses soon grow to need a more manageable approach to local data storage. At Julia's Cookies, it only took a few months before they needed a more robust data storage solution than Excel. Choose from the list below a database solution that a small startup company may use: - Microsoft Outlook - Oracle DBMS - MySQL - Microsoft Access #### Question 4: RAM Manufacturing LLC is a rapidly growing manufacturer of parts for the automotive industry. RAM Manufacturing recently implemented a new ERP system, NetSuite. You have been asked to perform data analytics to provide information to the firm's auditors. From which ERP module would you pull data to know what were the rent payments for last January? - Financials - Supply chain management - Production management - Customer relationship management - Sales management - Human resources management --- ### Explanation: #### **Question 3: Choosing a Database Solution** As businesses expand, their data requirements become more sophisticated, necessitating a shift from simple tools like Excel to more advanced database management systems (DBMS). This transition is critical for effective data handling and scalability. Small startups typically consider various DBMS options based on their needs, budget, and scalability factors. In this context, the potential choices listed include tools and DBMS, out of which: - **Oracle DBMS and MySQL** are robust database solutions suitable for growing data needs. - **Microsoft Outlook** is an email client and personal information manager. - **Microsoft Access** is a database management tool often used for smaller applications. #### **Question 4: Pulling Data from ERP Modules** Enterprise Resource Planning (ERP) systems like NetSuite integrate and manage core business processes in real-time, making them crucial for growing companies like RAM Manufacturing LLC. For specific financial queries, such as rent payments: - **Financials Module** within the ERP system is typically where all financial transactions, including expenses like rent, are recorded and managed. This module integrates with other aspects of the business to provide a comprehensive financial overview. Understanding which module deals with financial transactions is essential for accurate data retrieval and analysis, which is fundamental for reporting to auditors. --- ### Visual Aids: While the provided text does not include any graphs or diagrams, it is essential to integrate visual aids such as flowcharts or diagrams showing the interaction between different ERP modules
Transcribed Image Text:### Understanding Data Storage Solutions and ERP Systems: An Educational Insight --- #### Question 3: As companies grow, their data storage needs grow more complex, and many small businesses soon grow to need a more manageable approach to local data storage. At Julia's Cookies, it only took a few months before they needed a more robust data storage solution than Excel. Choose from the list below a database solution that a small startup company may use: - Microsoft Outlook - Oracle DBMS - MySQL - Microsoft Access #### Question 4: RAM Manufacturing LLC is a rapidly growing manufacturer of parts for the automotive industry. RAM Manufacturing recently implemented a new ERP system, NetSuite. You have been asked to perform data analytics to provide information to the firm's auditors. From which ERP module would you pull data to know what were the rent payments for last January? - Financials - Supply chain management - Production management - Customer relationship management - Sales management - Human resources management --- ### Explanation: #### **Question 3: Choosing a Database Solution** As businesses expand, their data requirements become more sophisticated, necessitating a shift from simple tools like Excel to more advanced database management systems (DBMS). This transition is critical for effective data handling and scalability. Small startups typically consider various DBMS options based on their needs, budget, and scalability factors. In this context, the potential choices listed include tools and DBMS, out of which: - **Oracle DBMS and MySQL** are robust database solutions suitable for growing data needs. - **Microsoft Outlook** is an email client and personal information manager. - **Microsoft Access** is a database management tool often used for smaller applications. #### **Question 4: Pulling Data from ERP Modules** Enterprise Resource Planning (ERP) systems like NetSuite integrate and manage core business processes in real-time, making them crucial for growing companies like RAM Manufacturing LLC. For specific financial queries, such as rent payments: - **Financials Module** within the ERP system is typically where all financial transactions, including expenses like rent, are recorded and managed. This module integrates with other aspects of the business to provide a comprehensive financial overview. Understanding which module deals with financial transactions is essential for accurate data retrieval and analysis, which is fundamental for reporting to auditors. --- ### Visual Aids: While the provided text does not include any graphs or diagrams, it is essential to integrate visual aids such as flowcharts or diagrams showing the interaction between different ERP modules
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