Commercial Data Processing

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Commercial Data Processing

Every  business or industry involves handling of data, in all its various forms, which include mainly text, images, or numbers. Data is basically any raw information which can be processed.

Large companies and institutions gather large amounts of data, on a daily basis. This data isn’t always helpful in the raw form, and needs to be processed. Processing data means to extract meaningful information out of data. This could include generating graphs, maintaining databases with past records, or generating bills and other documents.

Processing data manually is alright for very small establishments, but would be impossibly tedious for larger organizations. Hence, computers are used to manage these large amounts of information, for many reasons, including speed, ease of use, accuracy, and little room for human errors. This computerized management of information is called ‘Data Processing’. And when it is used in commercial establishments, it’s called ‘Commercial Data Processing’.

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Data Processing is used in various different ways, by insurance, phone, and gas companies, and electricity utilities, but is especially useful in these fields:

  1. Banking Systems:

In recent years, banks have made their services increasingly convenient through electronic banking. Electronic banking uses computers to carry out transfers of money. For example, automated teller machines (ATMs) enable customers to withdraw money from their checking or savings accounts by inserting an ATM card and a private electronic code into an ATM. Banks also use electronic transfers to deposit payroll checks directly into a customer’s account and to automatically pay a customer’s ...

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