Electronic Markets An electornic market can be describewd as the use of information and communication technology to present a range of offerings available in a particular market segment. This helps the purchaser to compare prices abd other attributes such as discount ,quality and take actions. e.g. Railway booking , bookmyshow etc.. Electronic Data Interchange :Electronic data interchange implies a standard system that can be used for coding trade transactions and communicating direclty from one computer to the other. In such system there is no need of paper work such as bills/invocies and thus eliminates many human errors. The major sector where EDI is being used is Large super market chains E-Commerce Buying and selling goods online is the prime model of e-commerce. E-commerce can be applied to different phases of trade cycle. This trade cycle will depend on factors like 1. Nature of organisations (or individuals) who are involved in e-commerce
Data and Tech notes for students and professionals