Refreshing Data is one way to go but it would be a problem in a company that has a large user base that would continuing to refresh data and putting a lot of stress on the database server.
One thing I've thought of was putting some sort of timestamp on when the data was last updated. If User 1 has data that was updated at 9am and User 2 updates it at 10am, then the user tries to update the data that was last updated at 9, the system could compare the timestamp and determine that User 1 is using out of date information.
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