5 Reasons to Choose Oracle as a Database Manager?

To explore the reasons behind Oracle’s popularity, it is essential to understand what a database manager does for the businesses? And why database management is so important for organizations that there are many competitors in the market?

I mean, on what factors are they competing? What different services they would be rendering because of which they are managing to make their acquaintance in the market?

Let us begin with a quick fundamental purpose-defining statement for the database manager, which would help our beginners to grasp a better understanding of it.

A database management system i.e. DBMS is basically a resource that a business might use to store, retrieve, and organize its data.

Note that, every database has an application software through which the user operates, and gets access to the data.

Moving on to the ORACLE database solutions ahead, by touching their basic parameters, their capabilities for which it becomes a choice of many, and the 5 dimensions that have reasons to choose Oracle as their choice for database management.

1. Reason to choose ORACLE for Startups

Startups today are usually based on Cloud. If not completely then for the data at least, they must be relying on cloud-based storage. This is essential too, to run parallel with the accelerating market based on the latest cloud computing technologies.

Oracle becomes the choice for them because it offers them more than just what a database manager is expected to do.

COST-EFFICIENT & TRANSPARENT INFRASTRUCTURE

If a database manager provides storage and retrieval services, it would not be exceptional. But if the same offers an AI-powered solution and platform to interact with the database, with a cost-efficient and completely transparent infrastructure, it is giving a reason to choose it for its cost-effectiveness.

A startup at the beginning would always choose something that would save its cost and yet perform well.

2. Reason to Choose ORACLE for Mid-scale Enterprises

ORACLE is known to deal with millions of data points every day. It offers ease of doing with desirable flexibility to scale up or down the level according to the customer base.

In startups, the fluctuation is quite normal but the cost-saving practices run for longer. This is the reason for which Startups choose ORACLE as it saves their money by allowing them to scale their database usage as per the occurring custom base.

As far as security is concerned, it is quite obvious that a startup would not spend on a new player in the market. And ORACLE has more than 40 years of experience handling databases only.

It becomes not just a personal responsibility as an owner of the business but a brand’s responsibility to keep the data security of those who are trusting over it.

3. Reason to choose ORACLE for Developers

Developers nowadays are cloud players. They exist in the cloud, they operate in the cloud, they store in the cloud and whatnot?

As far as modern developers are concerned, they depend on various SaaS-based solutions to get their work done, and everything that is SaaS must be related to the cloud.

This fact makes a cloud-based database a necessity, and then ORACLE to be the database manager for its open-source support.

4. Reason to choose ORACLE for Large-enterprises

Large enterprises do not just require a database to store the data. But they require it for a few more reasons. 

A well-grown business involves a huge amount of data in the form of DaaS i.e. Data-as-a-Service that needs proper analysis & its processing.

ORACLE’s powerful database GPU renders scalable and high-performing computing of the data, which makes it the choice for large-scale enterprises.

Many times, the database is required to be migrated. ORACLE is quite susceptible to migration and is also praised for its migration abilities many times by experts.

5. Reason to choose ORACLE over any other database manager

The biggest reason for choosing ORACLE over anything else is its offerings for the time of failure. It is known for the solutions that it provides for the failure of its own management. So that none of its customers has to sit bare-handed.

It is PORTABLE and runs in over 20 networking protocols with more than 90 hardware platforms as well. The portability comes into use when you are to develop a new ORACLE application and write code for it. But the same demand safety while changing the platform i.e. porting it.

In addition, it is most preferred for its recovering abilities as it requires only an archive mechanism and enough space to get your data back to you.

It is known as a multi-base manager for its ability to handle multiple databases simultaneously. The reason why big brands do not wish to migrate from it is somewhat of this only that it allows them to manage their multiple ventures all by itself.

There is a wide spectrum of ORACLE database solutions available in the market. A few companies like A3logics possess expertise in serving all of them altogether. What you need to know is the spectrum of ORACLE’s solution which includes-

• ORACLE DATABASE CONSOLIDATION services

• ORACLE UPGRADES

• ORACLE MANAGED INFRASTRUCTURE

• DevOps

• OPERATIONAL DATABASE MANAGEMENT

• ORACLE IMPLEMENTATION

Points to Note

There are a few negative aspects associated with ORACLE, which you should know before investing in it.

Handling it would not be an easy task for an amateur DBMS operator. Although it is advisable to not move on to the expert level and install it with the least customization only.

As far as an already existing business is concerned, it would require an agile database handler. You may hire a cloud computing consulting agency or a dedicated database handler as an administrator to keep things well-organized with ORACLE.

Moreover, the cost of ORACLE products is gradually increasing especially for the mid-scale to large-scale enterprises. As it has a lot to offer for every scale of a business, and with 40 years of experience in handling databases, ORACLE has a solution in the market for almost every general problem that one could face within database management.

Other things about ORACLE

Apart from the reasons and a few negative aspects, ORACLE is known for the following things that we should not forget before making a decision.

• There exists a series package around ORACLE, which requires adequate knowledge about it to get an advantage from the series features it provides to its users.

Make sure to know everything about it, especially if you are a newcomer to ORACLE database management.

• DBA normalization and ORACLE database design are a few factors that require utmost attention before grabbing ORACLE into the corner as a database manager.

• As far as ORACLE’s market figures are concerned, it has the largest occupancy in the market share as a database manager all across the globe.

All of the above-mentioned services require a dedicated software development team to take care of and robust handling to run your workload in a more efficient manner and secure environment.

What Does An 834 EDI Sample File Consist Of?

EDI 834 sample file is nothing more than a standard set by the concerned regulatory body named HIPAA and ANSI. It has a specific format according to which a transaction is made. Or, according to which a bundle of information is transmitted from one point to another.

EDI 834 sample file consists of a set of information, which could vary according to the user and purpose. It is used as a transaction set especially for ‘benefits enrollment’. 

Now depending on the, it is used for, which must be within the benefits enrollment and administration, the information consisting in the EDI 834 sample file would vary.

For example-

1. If we add new member(s) to the health plan

2. If we remove or terminate those

3. If we modify the plan

4. If we want to reinstate the recipient of the previous benefit

The 834 EDI transaction file would consist of the following information-

• The name and the identification of the concerned beneficiary

• Details regarding the benefits plan provider

• Details regarding the benefits plan including its expiry date, and other takeaways that are embedded in the specific plan.

• Plan identification or the product’s details.

EDI 834 Transaction File Is Used By-

• Employers

EDI 834 transaction file is used by employers especially to communicate with their employees for benefits administration. Apart from them, insurance agencies, government agencies which are employers, after all, are the users for the same purpose.

Moreover, EDI is a technology that consists of multiple transaction sets, for example, EDI 834, EDI 837, EDI 270, EDI 277, etc. each of them is concerned with their specific purposes.

As there are different chances when an employer needs to connect with their employees, EDI files help here to differentiate the purpose of communication.

For example, EDI 834 sample file is shared through benefits administration software to communicate about open enrollment, onboarding, and other relevant augmentation within benefits administration. The other augmentation includes disenrollment, reinstatement, etc. as mentioned in the beginning.

Similarly, as far as only the EDI 834 file is concerned, the employers have to communicate with other entities involved as well, in and around the benefits. And they are-

• The Insurance Carriers

Employers need to connect with them for specifying the type of benefits plan and to confirm the payment as a payer on behalf of its employees. The communication occurs between them using the EDI 834 transaction set only.

• The Healthcare Institutions

Whenever there is an instance in which the claim is applied for, or the reimbursement process is due, the employer seldom has to be the part of communication. To validate the necessary information regarding the claimant that involves the expiry date of the benefits plan of the claimant, his/her date of birth, etc. 

Also, the communication meanwhile the reimbursement process, which includes the claim amount requested by the claimant, and the amount processed or agreed to reimburse by the insurance carrier also occurs through EDI 834 and EDI 837 transaction sets respectively. One as a claim request, the other as a reply to that request. 

Outsourcing services of EDI help in healthcare claim status request and response as both of the transactions carry confidential information, which needs utmost confidentiality , and a safer medium to transmit through. 

EDI is the only technology available since the late 1960s that has kept on evolving to date with necessary upgrades and improvements regarding safety concerns.

All you need to have is in-house edi managed services or an EDI outsourcing service provider to keep your entire electronic transmission smooth.

• To Retirement Plans providers: 401(k)

As an employer, you would probably have senior employees too. For those, it becomes a courtesy to facilitate them with advantageous retirement plans and keep them in coordination with the 401k retirement plan providers.

• With Banks, Financial Institutions

However, the banks and financial institutions have nothing to do with the benefits administration, but there is a dimension within the same, which allows the employees to develop their savings by enrolling into such financial institutions which provide facilities like HSA i.e. Health Savings Account, and FSA (Flexible Savings Account), etc. 

Therefore, to get confirmation from them, and every update regarding their employee’s savings account modification, EDI transactions are taken into use.

Bringing our focus back to the ingredients involved in the EDI 834 transaction file, we can conclude that it would have necessary and confidential information regarding-

• Employee (the beneficiary)

• The benefits plan that he/she is enrolled in.

• The Insurance carrier

• The types of health insurance claims, some request, any detail of ratified amount, additional benefits involved in the benefits plan

• The Claim response that is executed

• The financial account concerned with the beneficiary

• The benefits broker’s identity, etc.

What makes this EDI 834 transaction set the most prevalent set around the EDI world, is its commonness. 

As far as the businesses within the United States of America are concerned, as per the top 10 edi outsourcing companies in the USA, there is no such department whose employees aren’t familiar with benefits. Also, there is no such state which does not involve insurance bodies as a part of benefits administration. 

All of the organizations have employees & their health as a common factor to think about, and a few centralized regulations in common to be compliant with. This commonness binds them to keep a few things in a singular format irrespective of their geographical location within the USA.

Thus, EDI as technology was opted as the best way to communicate, and ANSI X12 EDI along with HIPAA as regulatory bodies have worked upon creating the singular transaction sets to define distinct purposes of communication.