Transaction Processing Systems:
Information systems that process data generated from business transactions are known as transaction processing systems. In other words, the main job of a transaction processing system is to collect data generated from the transactions, store it, and, at times, control the decisions that are taken arising out of the transactions. Such transactions can be in the form of purchases, sales, deposits, withdrawals, etc. For instance, booking an airline ticket, withdrawing money from an ATM, depositing cash in the bank, etc are all example of transactions.
Generally, these transactions occur on a day-to-day-basis. A sale or purchase of an item triggers many other transactions like credit checks, billing, and changes in the inventory. Thus, transactions generate additional data.
Following are the objectives of a transaction processing system:
- Carrying out the day-to-day transactions of the organization on a regular basis.
- Collecting, processing, editing, updating, storing the data, and generating the required reports or documents.
- Supplying the necessary information to the organization, which would enable proper functioning of the business.
- Providing reports and documents which would help in making timely decisions.
- Supplying data to other information systems.
Essentially, transaction processing systems should capture data and process it with great speed and accuracy. After capturing and processing the data, the transaction processing system updates organizational databases and produces a variety of information products for internal as well as external use. Diagram illustrates a cycle in which the basic transaction processing activities take place.
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