ArcGIS is a great set of tools for storing, editing and managing data. In fact, Data Management is one of the key aspects of ArcGIS Platform. See the following link for a brief on the data management capabilities of ArcGIS:
ArcGIS is a great tool for managing geographical data.
Day to day business data, and attributes it is horrible unless you are using SDE and storing your data in SQL Server or Oracle or like -- but you would not be using ArcGIS for reporting outside of Geographical stuff. On the smaller databases, take for example the file geodatabase, try connect that with word to produce mailing labels for example! (You cannot)
Just my opinion -- only outside of geographical information shapes and stuff, there are much better and more efficient tools.
I like both of these comment. It is totally a great way of thinking critically. Let see what other think about this issues.
Thank you Jayanta and Ted for your comment .