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Internet Databases And Hardcopy Data Bases

CONTENTS:

Introduction

Types of databases

Consumption and national income

Internet databases

Hardcopy databases

Conclusion

References

Appendix

Introduction:

In this paper we will discuss internet databases and hardcopy data bases, we will focus on the relationship between income and national income and we will require data from both databases, however retrieving this data from an internet source is much easier than data collected from hardcopies.

Types of data bases:

Classification of databases

1. Function

1. i.    Analytical databases

This type of data is usually kept for statistics and it is usually read only and therefore cannot be modified by users, they are commonly used by companies to keep records of sales and hold all sort of information of these products.

1. Data model

i.  Flat file data base model

This is an old paper based database, data is stored in files and the disadvantage is that the data is not linked and there is a chance of repetition of data stored and therefore quite redundant.

ii.  Hierarchical data base

This data base was developed with an effort to get rid of the problem of repetition associated with flat file data, this data is stored in files grouped together where there exist parent and child files; however there is still a level of redundant data in this database.

iii.  Network database

This data system developed to reduce the problem with hierarchical database, this database system involves the linking of child databases and this reduced redundant data and also makes the search for data easier.

iv.  Relational database

This database was developed in such a way that there were no parent or child data bases, all databases are equal, all data bases are grouped by key words and this also made it easier for one to retrieve data.

v.  Object oriented database

This database enables on to store photos, sounds and videos which are not possible to be stored in the above named data bases, this type of database enables one to manipulate texts, sounds and images however they are very expensive and only used by large organisations and government organisations.

All the above data bases have their advantages and disadvantages, however we will focus on internet databases and hard copies inform of books and journals, we will focus on each considering the merits and demerits.

Consumption and national income:

We will focus on the relationship between national income and consumption, consumption constitute the largest proportion of national income, according to the classical economist consumption is a function of national income and these formula can be defined as C = F ( Y ), where:

‘C' is consumption ‘Y' is national income

When we estimate this formula we expect our formula to take the following form

C = a + b Y where ‘a' is the autonomous consumption level and ‘b' is the marginal propensity to consume.

To estimate this formula we will use data retrieved from the internet, the data used is for the UK from the year 1970 to 1980,

Income and consumption level for the UK, units are in million pounds.

year

consumption

national income

1970

51.27

349.045

1971

57.323

357.267

1972

64.466

372.979

1973

76.242

402.565

1974

88.949

393.599

1975

108.923

386.71

1976

129.328

397.225

1977

146.204

396.143

1978

167.515

411.909

1979

197.906

426.915

1980

227.537

414.792

However the data retrieved from the internet did not provide more information that would have been used to prove this theory, there are other factors that influence consumption other than the level of income, and some of these factors include taste and preferences

The hard copy data base was provided in form of a graph, these data was retrieved from a journal by Feinstein C. (1972), the graph gave the figures of consumption levels in the UK from 1930 to 1965 but did not provide raw data for the consumption levels becouse the data was in form of graph which was very difficult to retrieve the figures for the specific years, this is one disadvantage with the hardcopy databases where experiences difficulties when retrieving data from them.

Internet databases:

Merits:

They are available to everyone and can be retrieved anywhere in the world, this means that one can retrieve the data from the available databases anywhere further the databases are available 24 hours a day and 7 days a week therefore they can be retrieved at any time and at any day as opposed to the other forms of databases, example the library which is a source of hardcopies is sometimes closed in weekends and public holidays.

The available databases in the internet are so diverse and this means that there are many websites that act as sources of useful data to the user therefore the internet contains so many data bases where any type of data can be retrieved at anytime.

Some websites have special interface where one can request for specific data one requires, this therefore is an advantage over the hard copies where one has no one to consult over additional information to the data retrieved, these special interface is useful in that one can interact with the providers of the data and therefore obtain whatever data is required.

It is very cheap to retrieving this data, all one needs is to have access to the internet and then one can retrieve any type of data one needs, this makes it possible for one to retrieve data in a more cheaper and effective way. Also internet databases are up to date and contain recently collected data and most data bases are frequently updated and changed to meet the day to day needs of users.

Another advantage of internet data bases is that most of the data manipulations are already calculated example standard errors, correlation and linear regression, the information these data base provide is usually properly analysed and free of errors that are associated with other types of databases, therefore internet databases provide more information concerning the data retrieved.

Demerits

Some type of data may not be available, further some data may not be available to all users where one may require authorised access to these data bases example companies data bases will only be accessed by the staff of that company, also the data retrieved may not contain all the information required by the user; therefore this is an advantage in that the user may be forced to consult other data bases for the information required.

The data retrieved nay be biased due to many reasons, the purpose of the data base will influence such biasness, example a companies database that is meant for use by potential investors will be distorted in a way that places the company in a better position in terms of growth, such companies will not expose data that signifies low returns to investment, therefore the data retrieved from such sources will be biased and will not reflect the real information and data for such situations.

Hard copy data bases

Merits

Information cannot be manipulated and therefore the data is retrieved as it was originally recorded therefore there is less risk of retrieving biased data, this is an advantage over the internet databases where data may be changed or manipulated over time, however this may act as a disadvantage in that the data retrieved will not contain data that is up to date.

Data stored in hard copy databases are easily retrieved and available in libraries and other archive based organisations, such organisations will store data in well organised categories that make it easier for users to retrieve such data and these saves time when searching for data.

Demerits

Usage of this data is made difficult because of the fact that this data exist as a hard copy and reversing it to soft copy leads to more difficulties when using data, users may like to use such data in their computers and if the data contains too much information it makes it difficult for one to use such databases. Errors may occur when using such data such omission errors and other errors, the users of such data may not record the correct information from such databases and this will lead to biasness.

The databases that exist are not available to everyone and users may find it difficult to retrieve data needed, example one may not have access to libraries where such hard copies are stored also the libraries and archive organisations may not contain certain information needed by the user.

Data retrieved may not meet the needs of a user due to the fact that such data bases are not updated and therefore less information is available, example a hardcopy published in the 90's will not contain data for the years that follow this is in contrast with the internet sources where most databases are updated frequently and therefore contain recently observed data.

It is sometimes expensive to rely on hardcopies because one may be forced to purchase materials and books in order to retrieve certain information as opposed to internet databases where most of these databases offer free data to users.

Conclusion:

We can conclude by saying that all the databases available are important in that they assist in providing relevant data, however the best way to obtain data is by using internet based data bases, this is because the internet based databases have added advantages over the other sources of data, the internet data bases are cheap, reliable, up to date and they available to any user at any time and anywhere in the world.

The internet based databases are diverse and for these reason any type of data is likely to be available, another advantage is that the data retrieved from the internet has added information in that statistical manipulation is already available to the user and is usually well defined and explained as opposed to other data bases.

References:

Data bases (2007) types of data bases and their classification, retrieved on 13th march

David M. Kroenke (1997) Database Processing: Fundamentals, Design and Implementation, Prentice Hall publishers, USA

Feinstein C. (1972) National Income, Expenditure and Output of the United Kingdom, 1930-1965. Studies in the National Income and Expenditure of the United Kingdom, Vol. 6 Cambridge University Press, Cambridge

National statistics (2007) General practice research database UK 1970 to 1980

P. Schmidt (1976) Econometrics, Marcel Decker publishers, USA

G. Mankiw and Campbell Y (1989) Consumption, Income and Interest Rates: Reinterpreting the time-series evidence, NBER Macroeconomic Annual 1989, Mass, MIT Press, Cambridge

Appendix:

Calculation of the regression line C = F ( Y )

year

consumption

national income

1970

51.27

349.045

1971

57.323

357.267

1972

64.466

372.979

1973

76.242

402.565

1974

88.949

393.599

1975

108.923

386.71

1976

129.328

397.225

1977

146.204

396.143

1978

167.515

411.909

1979

197.906

426.915

1980

227.537

414.792

1315.663

4309.149

 

 

 

 

B

30.21382191

A

-12304.91462

 

 

 

standard error

33.77269645

 

correlation

0.842630885

 

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