Transactions are daily activities of any organization. They may differ from one organization to another, but are always part and parcel of business activities of an organization. When customers make queries is it already a transaction. But there are transactions that are common to all organization, such as maintaining the accounts of employees, maintaining the leave credits, or accepting new employees and training them. All these activities need proper and accurate processing of record keeping. It also needs speed and easy retrieval, calculation and storage.
In oil and gas industry, it is necessary that transactions be properly recorded, updated and can easily be retrieved. All these transactions can be programmed to follow routines and functions of the operation.
A Transaction Processing System or TPS is an information system where data transactions of the whole organization is collected, stored, modified and retrieved. TPS can also try to provide timely predictable response to various requests. It only allows transaction processing for predefined and pre-structured transactions. Every transaction has a short duration and the processing activity is programmed in advance.
Types of Transaction Processing
- Batch Processing – This is an execution of series of programs on a computer without any manual help. All input specifications are predefined through scripts, command-inline arguments, control files or job control language. This is different from interactive programs where the user is prompted to input. The program gets a set of data files as input. Then it processes the data and produces a set of output data files. It is called batch processing because the input data are collected in batches of records and each batch is processed as a unit. The output data becomes another batch that can be reused for computation.
- Real time Computing – These refers to hardware and software systems that are subject to a real time constraint, like operational deadlines from event to system response. A real time system is defined as one that controls the environment when it receives data, process them and produces results speedily to affect the environment at that particular time. It is used in simulation, process control and enterprise systems so that there will be no significant delay.
- Time Sharing – In computing it refers to sharing of computing resources among several users through multiprogramming and multi-tasking at the same time. It allows a large number of users to interact simultaneously with one computer. It allows individuals and organizations to use a computer without owning one. It also promotes interactive use of computers and development of new interactive applications.