Business Studies, asked by Shazah, 2 months ago

application of Online banking transactions processing​

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Answered by satyanarayanprasad14
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OLTP has also been used to refer to processing in which the system responds immediately to user requests. An automated teller machine (ATM) for a bank is an example of a commercial transaction processing application. Online transaction processing applications have high throughput and are insert- or update-intensive in database management. These applications are used concurrently by hundreds of users. The key goals of OLTP applications are availability, speed, concurrency and recoverability.[2] Reduced paper trails and the faster, more accurate forecast for revenues and expenses are both examples of how OLTP makes things simpler for businesses. However, like many modern online information technology solutions, some systems require offline maintenance, which further affects the cost-benefit analysis of an online transaction processing system.

OLTP is typically contrasted to OLAP (online analytical processing), which is generally characterized by much more complex queries, in a smaller volume, for the purpose of business intelligence or reporting rather than to process transactions. Whereas OLTP systems process all kinds of queries (read, insert, update and delete), OLAP is generally optimized for read only and might not even support other kinds of queries. OLTP also operates differently from batch processing and grid computing.[1]:15

In addition, OLTP is often contrasted to OLEP (online event processing), which is based on distributed event logs to offer strong consistency in large-scale heterogeneous systems.[3] Whereas OLTP is associated with short atomic transactions, OLEP allows for more flexible distribution patterns and higher scalability, but with increased latency and without guaranteed upper bound to the processing time.

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