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THE USEFULNESS OF DATA BASE IN FINANCIAL INSTITUTION

                        ABSTRACT

This project work is aimed to reveal the usefulness of database in financial institution which will store all relevant information of all its work, process necessary document retrieved, edit and update information concerning worker and customers.

The amount of data being handled by organization has grown larger in recent years that managing it properly has become a sophisticated operation, an operation you are likely to be involved in the financial environment.  In any organization, information concerning them and each of their customers are kept in file.  In this file, a row of data is referred to as record and an individual piece of data within a records are kept on paper file jacket.  This type of storage is fraught with many problems.  For instance, as the amount of records increase the volume of paper work involve also increase.  This will in turn result in problem of storage space.  It becomes generally more difficult to manage such a system.  Also retrieval of information becomes cumbersome to tackle these problems, this project work “the usefulness of database in financial institution” is applied.

TABLE OF CONTENT

         CHAPTER ONE:

1. Introduction
2. Purpose of the study
3. Significant of the study
4. Scope and limitation of the study
5. Definition of terms

CHAPTER TWO:

1. Definition of financial institution
2. Type of financial institution
3. Definition of database
4. What is database management system (DBMS)
5. Advantage of database management system
6. Model for organizing a database
7. Designing a database
8. Use of database in financial department

CHAPTER THREE:

1. Summary of findings, conclusion and recommendation

3.1     Findings

3.2     Conclusion

3.3     Recommendation

          Bibliography

             CHAPTER ONE

1. INTRODUCTION:

The amount of data being handled by companies has grown so large in the recent year that managing it properly has become a sophisticated operation, an operation you are likely to be involved in the environment.  The introduction of database management system concept that you should be familiar with in the environment.

In this environment, you are likely to hear the terms database and database management system being used frequently.  A database is a large group of stored, integrated data elements.  A database management system, (DBMS) is a comprehensive software tool that allows users to create, maintain and manipulate database to produce relevant information.  Example of database management system are dbase, Microsoft access, lotus approach, fox pro, oracle etc.  Although these software package are the products of different software companies.  Their principles of operation are basically similar if you learn one of them, you can easily adapt to another.  A database management system is intended to:

1.       Maintain data integrity

2.       Manage file access

3.       Define characteristics of data

4.       Eliminate data redundancy

5.       Make data independent of the application progrramme being used so that its easy to access and change.

6.       Establish relationship among records different files.

1. PURPOSE OF THE STUDY:

The purpose of this study includes the following:

1.       To determine the extent to which there is improved services to customers in financial institution due to appropriate database.

2.       To state the workable and application of database management system that will replace the existing manually oriented operations in the financial institution.

3.       To determine if there have been any step to provide training for their staff to know the manipulation of computer database has helped the financial industries in this era of distress.

1.3     SIGNIFICANCE OF THE STUDY:

The study intends to highlight the importance of database in financial institutions for its obvious contribution to the following:

1.       A success of the research project will equip the institution today aiming at acquisition of new customer and retention of old ones.

2.       A lot of economic of scale and saving will accrue to the financial industries and transmitted to the economy.  If it is possible to transact business throughout the nation, with the aid of data processing devices for one time lost in delay at the bank effect the economy.

3.       It is expected that the result of this study will help the banks to evaluate the strength of the staff, both in quantity and quality to enable it adjust and readjust, this could be in form of sending their staff on short training such as seminars, conferences, workshop, in services, off-the-job or in exchange programmes to embrace the need of the time.

1.4     SCOPE AND LIMITATIONS OF THE STUDY LIMITATIONS

There is no research work with its limitation.  This topic is exception.  The limitations are as follows:

Because of the size and number of organization involved, the research was limited to financial institutions.  Also because of the branches of overall computer application in financial institution, it was limited to database.

SCOPE:

There is utmost need for financial institution to know how to record and retrieve in formation in their organization to ensure reliability and for better economic development.  It will also extend to organization and design of database.

1. DEFINITION OF TERMS:

1.       DATA:   The raw fact that makes up information.

2.       FIELD:   A field is a category of information in the database of each field is identified by a field name that defines the individual categories of information contained in a database.

3.       DATABASE:  A large collection of stored integrated (cross-referenced) records that can be maintained and manipulated with great flexibility, the top level in data hierarchy.

4.       INFORMATION:  Data that has values that has been interpreted by the user.

5.       FILE:  A group of related records, the fourth level from the bottoms in the data hierarchy.

 

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