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Explain the use of computers in the field of business.

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All business firms do certain business tasks on a daily basis like generating customer bills, studying sales of various products at different locations, etc., using computers. There are many departments like sales, purchase, finance, etc., is big business firms. These departments are involved in different business tasks which are large in volume and huge storage space is required and computers are used in such places.

1. Marketing:

Marketing applications provide information about the products, their distribution, advertising and selling activities.

2. Stock Exchanges:

The stock market uses a computerized system that makes it possible for stockbrokers and customers to do all their trading electronically. Brokers connect to stock exchanges using the internet and do the buying and selling of shares online. Money transfer is done electronically.

3. Banks:

Computerized banking saves time for the customer. Cheques are read by MICR (Magnetic Ink Character Reader, a device used to allow the data on cheques to be read by machines). Banks use computers to maintain their customer’s accounts and their transaction details. Customers can also use internet banking to transfer money. Money can be withdrawn from any ATM’s any time.

4. Departmental Stores:

At departmental stores, cashiers enter sales data by waving a bar code scanner. Bar codes are read by bar code readers that translate the bar code symbols into digital forms. The price of a particular item is set with the store’s computer and appears on the computer and billing is done automatically. The report of purchases, sales and stock are generated using computers. Security cameras are used and continuous recording using DVR is widely used in departmental stores and other locations to monitor home or business operations to ensures security and safety.

5. E-Commerce:

E-commerce (electronic commerce) is the buying, selling, and exchanging of products, services, and information via computer network/internet. It promotes online buying and selling of goods and services. A buyer can buy products using a computer connected to the internet sitting anywhere in the world at any time of the day.

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