Analyzing POS Technology: Insights from the Bloomberg Case Study

This report analyzes the Bloomberg case study, focusing on Point of Sale (POS) technology and its impact on business operations. It discusses the advantages and disadvantages of POS systems, highlighting benefits such as efficient data storage, enhanced inventory management, and impr...Read More

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Executive Summary
In this report the discussion will be made by analyzing the Bloomberg case study. The points
that will be covered in this paper are related to POS. Technology plays a great role in conducting
the activities of the organization. So, in the paper the discussion will be made on the advantage
and disadvantage of POS, benefits of centralized database, Role of POS in the process of
decisions making telecommunication option in POS and also risk system in POS. These factors
will be elaborated in the paper which also considers the information related to Bloomberg case
study.
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Table of Contents
Executive Summary.........................................................................................................................1
Introduction......................................................................................................................................3
Advantages and disadvantages........................................................................................................3
POS related to competitive advantage.............................................................................................4
Benefits of centralized database......................................................................................................4
Role of POS in process of decision making....................................................................................5
Effectiveness of POS...................................................................................................................5
Information can be tracked by focusing on the technique related to manual..............................6
Type of question to be answered..................................................................................................6
Information considered in managing the business.......................................................................6
Telecommunication option for POS................................................................................................6
Type of network...........................................................................................................................6
Type of media..............................................................................................................................6
Type of risk in the system of POS...................................................................................................6
Conclusion.......................................................................................................................................7
References........................................................................................................................................8
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Introduction
In this report, the discussion will be made on the technique related to POS. The
discussion will be based on the case related to Bloomberg. By considering the case study the
discussion will be made in this paper. It has been seen that technology plays a great role in
completing the activities of the company. If the company adopts the latest technology then
operations can be completed in a proper way. POS is considered as a place where the overall
sales are made.
POS is a step in which the activities are conducted between the customers and a
merchant. Point of sale takes into consideration many merits and demerits and it is important for
the company so that the routine task can be completed in a proper way. This method can help the
company to consider the right decisions so that activities can take place in a right manner
(McLaughlin and Lyon, 2016).
Advantages and disadvantages
There are various points that are related to the advantage and disadvantage of a new point
of sale. The advantages are
a.) It can be easy for the company to store the data in less space and it in
relation to it there are many facilities like distributing, storing and maintaining the track
of the information (Bain, Chuang and Walster, 2017).
b.) There are also various essential transactions which are seen in POS and
proper ranks are given when sales take place so that products can be controlled in an
effective manner.
c.) The information or the data which is gathered with the technique of POS
can assist in enhancing the inventory and also it controls the overall history which is
related to the sales that take place.
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d.) The decisions are also taken which is concerned with the inventory
management and it has been seen that assistance is given to reduce the confusion which
takes place when the activities are conducted in the organization. At the time of
completing the overall units, the learner inventory is taken into consideration.
e.) Cost reporting helps to analyze the actual facts related to the products. It
also offers more profits (Lam, Lee, and Tsai, 2018).
f.) When the manager's focus on maintaining the data it gives assistance o
manage the time in an effective manner. It is also a method which helps to manage or
control the activities which are conducted in the company.
g.) Accounting is also one of the aspects in which transparency is maintained
by focusing on this technique. This technique helps to maintain proper transparency in
the information (Meagher, 2014).
Disadvantages
It is essential to upgrade the overall system on a continuous basis so that the overall input
enhances. There are also various risks which are related to hacking and also in this the data is
transferred to the other person who does not have any right.
POS related to competitive advantage
There are numerous benefits which are related to the use of the POS. It has been seen that
these systems help in giving correct decisions and also provide data by focusing on the various
methods. The data assist in giving emphasis to the decisions that help to attain the competitive
advantage in a proper manner (Barney and Ray, 2015).
Point of sale is a platform that helps to manage and give exact information related to the
overall products. It also helps in enhancing the profit margin of the business. The management
concerned with the inventory can be control with the help of this technique. The cost which is
incurred in the inventory management is also controlled and profits are enhanced in an effective
manner. By having control over the financial data there can be an enhancement in the overall
profits earned by the company. To become a leader it is important for the business to be a leader
in the market (Qu and Wang, 2015).
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Benefits of centralized database
If the emphasis is given on the centralized database it has been evaluated that there are
many benefits which are concerned to it. This is important for the large businesses but it is
important for the small business. The benefits that can be analyzed are
a.) To manage the change can be a simple process and because of this, the
information can also be increased.
b.) High integration of data is also seen which is concerned with less
information redundancy. The data could be managed in one place with the help of this
technique.
c.) When the focus is given on high data security it can be seen that every
situation can be managed and also the situation can be controlled where attacks take place
on regular basis (Grube, Quisenberry and Buchalo, 2014).
d.) By considering the time frame it can be seen that information can be
analyzed and also focus is given to the decisions so that the data can be gathered easily.
e.) By considering proper database management, the process can be managed
and also portability in the process can be controlled.
f.) When resources are managed then it can assist to secure the data in a
managed way (Khilnani and Iverson, 2016).
Role of POS in process of decision making
When POS system is taken into consideration it has been seen that information is
managed and controlled in a proper manner. It also helps in making the accurate decisions. When
the first step is taken into consideration it can be analyzed that it has a relation with the data-
driven decisions that help the business to achieve competitive advantage.
Effectiveness of POS
Accurate information is gathered with the help of POS and this whole process is related
to the sale of the products. It is important to focus on the large share of the market so that
revenue can be gained more. The real-time of data can help to emphasize the good decisions so
that discounts and offers can be considered in a proper way. The information which is collected
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can assist to enhance the operations so that competitive advantage can be attained (Todeschini,
Deloge and Anderson, 2017).
It can be evaluated that with the assistance of POS it can be easy to track the data. It is
related to the overall orders that help to minimize the stock to focus on the best sellers. The
manual method is also considered so that time management can take place.
Information can be tracked by focusing on the technique related to
manual
The manual technique helps to interpret the data so that accurate decision can take place.
When the organization focuses on taking the decisions it is seen that emphasis is given to the
real-time data and also tracking is done on a manual basis (Turner and Musman, 2018).
Type of question to be answered
There are many questions that should be answered and it can be only done with the help
POS. the questions focus on the concept of marketing and financial activities can be taken into
consideration by considering the system of POS. There are many queries of the consumers on
which emphasis should be given so that correct decision can be taken.
Information considered in managing the business
The information can be managed with the help of the POS system. By considering this
information it can be easy to consider proper decisions and also the focus is given to various
areas. By considering POS it can be easy to modify the process and the data is also collected
with the help of this system. The approach related to data-driven helps to manage the operations
of the business.
Telecommunication option for POS
Type of network
In telecommunication, LAN can be taken into consideration. There are also many small
companies who need fewer amounts of data. It is important to have high speed so that the
resources can be used less (Lee et al., 2015).
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Type of media
In this wire, technology is considered and this provides many benefits to four seasons
greenhouse and nursery. To maintain proper connection Ethernet can be considered.
Type of risk in the system of POS
The type of risks are related to
Privacy
POS give emphasis to many types of data. So it is important to maintain privacy so that
loss cannot take place.
Confidentiality
By emphasizing on the POS it has been seen that it is important to maintain privacy so
that the issue related to debit and credit card can be reduced (Cannataci et al., 2016).
Security
By emphasizing on the system of POS it can be evaluated that information can be secured
in a proper way. If the data is hacked then the company has to face loss (Neves and Eisenberger,
2014).
Conclusion
By focusing on the report it can be concluded that POS helps the business to achieve
competitive advantage and also it helps to take correct decisions. By considering LAN it can be
seen that proper connectivity is important so that information safety can be maintained. LAN
should be taken into consideration so that speed can be maintained in the activities conducted in
the company.
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References
Bain, S., Chuang, I.H. and Walster, M., American Express Travel Related Services Co Inc,
2017. System and method for multi-connection point of sale terminal for activity tracking.
U.S. Patent Application 15/352,244.
Barney, J. and Ray, G.A.U.T.A.M., 2015. How information technology resources can
provide a competitive advantage in customer service. Planning for Information Systems, 3(2),
pp.444-460.
Cannataci, J.A., Zhao, B., Torres Vives, G., Monteleone, S., Bonnici, J.M. and Moyakine, E.,
2016. Privacy, free expression and transparency: redefining their new boundaries in the
digital age. UNESCO Publishing.
Grube, G.W., Quisenberry, E.E. and Buchalo, J.E., 2014. Providing safety status information.
U.S. Patent 8,688,146.
Khilnani, R.P. and Iverson, K.N., Microsoft Technology Licensing LLC, 2016. Trusted
operating environment for malware detection. U.S. Patent 9,251,350.
Lam, T.S., Lee, H.H. and Tsai, S.J., Flytech Tech Co Ltd, 2018. Service data record system
and POS system with the same. U.S. Patent 9,881,283.
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Lee, S.H., Kim, H.E., Son, K.S., Shin, S.M., Lee, S.J. and Kang, H.G., 2015. Reliability
modeling of safety-critical network communication in a digitalized nuclear power
plant. Reliability Engineering & System Safety, 144, pp.285-295.
McLaughlin, Q. and Lyon, B.H., LivingSocial Inc, 2016. Systems and methods to implement
point of sale (POS) terminals, process orders and manage order fulfillment. U.S. Patent
9,275,407.
Meagher, M., Metrologic Instruments Inc, 2014. Bioptical point of sale (POS) checkout
system employing a retractable weigh platter support subsystem. U.S. Patent 8,822,848.
Neves, P. and Eisenberger, R., 2014. Perceived organizational support and risk
taking. Journal of managerial psychology, 29(2), pp.187-205.
Qu, H. and Wang, Y.P., Hand Held Products Inc, 2015. Multiple platform support system and
method. U.S. Patent 9,010,641.
Todeschini, E., Deloge, S.P. and Anderson, D., Hand Held Products Inc, 2017. System and
method for securing sensitive data. U.S. Patent 9,800,412.
Turner, A.J. and Musman, S., 2018. Applying the Cybersecurity Game to a Point-of-Sale
System. In Disciplinary Convergence in Systems Engineering Research (pp. 129-144).
Springer, Cham.
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