National database needed to facilitate financial development
* What are
the essential requirements for developing a financial database that
could help better analysis and projections for policy and finance
matters?
In my opinion, a good financial database
must be able to support the government's three main activities: policy
planning and adjustments; administration and management.
If this is done in line with the Party and Government's guidelines, it
will help us evaluate the impact of national programmes and make
accurate projections.
To do this, it is necessary
to collect, organise and categorise the data in accordance with our
needs. Relevant information must be included in the data to help users
retrieve and use it easily.
Additionally, all the
data must be relevant to the content; come from a reliable source; and
be compatible with IT and technical standards.
Statistical processes are normally divided into three basic stages: data
collection; processing; and analysis, evaluation and commentary. In
each stage, a standard operational procedure is essential for IT
application.
* What are the vital points that the financial sector should focus on when developing its database?
The first thing they have to do is to conduct a survey on what
information they need to avoid "deadweight" information in the system.
Additionally, the information must be available and
meet the requirements of the financial sector and other sectors that may
need it.
A good database and reliable data is very
important for analytical work. Of course, the database must be up dated
regularly and be easily accessible for users anywhere with an internet
connection.
Another important factor I want to list
here is the information security and safety. Distorted information can
negatively affect predictions and lead to poor decision making, which
would be disasterous for the economy.
Fast
information technology development is important, but we cannot neglect
good database design and three important concerns: security (against
virus, espionage and hacking); contingencies (for natural disasters,
power blackouts and information storage); and information safety.
These three elements are paramount for each phase of data management: collection, processing and publication.
Regarding the technical issue, it's important to have a big database
server to avoid congestion and support multiple users. In my opinion, we
should limit data access directly from the server.
* In your opinion, in order to have a good and reliable database what conditions do we need to meet?
Quite a lot of work needs to be done. The first thing we have to do is
to set up an organisational system, analytical tools, a reliable
mechanism for making financial projections and of course, build up a
pool of IT experts.
Once the national targets have
been defined, they will become the basic compass for government agencies
to develop their policies and administrative mechanisms.
Along with that, a criteria for information reports will be set up. At
this stage, the database will play a key role in helping policy makers
and management officials to provide good analysis and make good
decisions.
It will also help functional agencies to perform their roles more efficiently.-VNA