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ber of outstanding shares in the mutual fund The NAV is calculated daily, at the close of the business day Unlike common stocks, which investors may purchase at any time during the business day, and sometimes later due to extended-hours trading, open-end mutual funds are traded at the end of the day due to the pricing structure of the NAV So, which are better: closed-end or open-end funds The answer is neither Both have their advantages and disadvantages Open-end funds are bought and sold by the mutual fund company, whereas closed-end funds are traded on stock exchanges Therefore, if you want to purchase shares of a closed-end fund, you will need to find an investor who wants to sell his, just as you would with stocks However, you may be able to purchase shares of a closed-end fund at a discount Open-end shares are always bought and sold at NAV Of course, you may also wind up paying a premium price for your closed-end shares In the end, it matters more what the funds invest in, what their track record is, and what your investment goals and objectives are, rather than whether the fund is open- or closed-end

simply does not work very well Specific reasons why this is the case with JD Edwards systems include the following: New releases frequently introduce changes in the JD Edwards database, thus making it necessary to rewrite and test reports every time an upgrade occurs These changes make it difficult to create and maintain reports that summarize any data that originates within more than one release Field names are hard to decipher Some are just meaningless strings of characters JD Edwards data is often stored in odd formats such as Century Julian dates and numbers without decimal points Files are structured to optimize data entry and validation performance, making them hard to use for retrieval and analysis There is no good way to incorporate worthwhile data from other sources into the JD Edwards database Developing and storing metadata is an awkward process without a data warehouse Many data fields that users are accustomed to seeing on display screens are not present within the database, such as rolled-up general ledger balances JD Edwards applications frequently run on relatively expensive servers such as IBM s I-System The higher cost of storage on these systems makes it impractical to retain the amount of data Business Intelligence requires Priority always needs to be given to transaction processing Reporting and analysis functions tend to perform poorly when run on the hardware that handles transactions There is a risk that BI users might misuse or corrupt the transaction data There are many ways in which BI users can inadvertently slow the performance of JD Edwards applications

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These problems are not unique to JD Edwards Variations of the same problems exist for all ERP packages All of them can be solved through the creation of a data warehouse Fortunately, relentless and continuous declines in the cost of computer processing and storage have made the data warehouse option far more attractive than it was just a few years ago These declines have averaged 30 percent per year

for many years and will almost certainly continue to do so for many more years The declining cost of hardware not only makes BI solutions cost less, but also encourages businesses to retain even more data on which BI solutions can feast As such, data warehousing is becoming steadily more sensible and valuable

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