15 Internet terms for beginners

You can now make sense of what you’ve always taken for granted.

3G

3G, short for third generation. 3G is a network protocol which refers to the generations of mobile phones and telecommunication equipment which are compatible with the International Mobile Telecommunications-2000 (IMT-2000) standards stated by International Telecommunication Union (ITU).

3G Technology is designed for multimedia communication. It provides services like higher data transfer rates, video calling, live streaming, mobile internet access, Internet Protocol television (IPTV) , etc.

4G

The “G” stands for generation, meaning 4G is the most current generation of cell phone network coverage and speeds. Like 3G, there is no single 4G standard. Instead, different cellular providers use different technologies that conform to the 4G requirements. While LTE (Long Term Evolution) is popular in Scandinavia and the United states, WiMAX is a popular 4G technology used in Asia and Eastern Europe.

404 ERROR

The 404 or Not Found error message is a Hypertext Transfer Protocol (HTTP) standard response code, in computer network communications, to indicate that the client was able to communicate with a given server, but the server could not find what was requested.

SERVER

A computer or computer program which manages access to a centralized resource or service in a network.

HTML 

Hyper Text Markup Language (HTML) is the standard markup language for creating web pages and web applications on the World Wide Web.  HTML defines the structure and layout of a Web document by using a variety of tags and attributes.

HTTP

The underlying protocol used by the World Wide Web to define how messages are formatted and transmitted is called Hyper Text Transfer Protocol (HTTP)

IP ADDRESS

An Internet Protocol address (IP address) is a numerical label assigned to each device participating in a computer network that uses the Internet Protocol for communication.

 

18 Accounting terms for beginners

The A B C to understanding accounting and financial statements.

1. Fiscal Year :

A fiscal year is the twelve-month period that an organisation uses for budgeting, forecasting and reporting of financial statements and books of accounts. The fiscal year can coincide with the calendar year; however, it can also be different.

2. Revenue :

Revenue is the total amount of money collected for goods or services sold before deducting any expenses of business. It also includes any credits or discounts for returned merchandise.

3. Profit and Loss Statement :

A profit and loss statement is a report generated by the company that lists earnings, expenses and net profits for a given period of time. It’s also referred to as P&L.

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Niche Retailing

As the name suggests, nice retailing is the practice of selling only to a specific market segment. Nice retailers specialise in one particular type of products or similar products. The more narrowly a niche retailer can define his target market, the better.  While niche retailers may not appeal to a broad group of consumers, they meet the special demands of smaller groups they target.

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Mass Customisation

Giving each and every one of your customers what they want. If you were wondering how that is even possible, then visit a nearby mall, you’ll notice for yourself!

Mass customisation combines the flexibility and personalisation  of custom-made products with the low unit costs associated with mass production. Mass customised products may also be referred to as made to order or built to order.

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Dynamic Clustering

Most business have a fragmented customer base, i.e customers could be of different socio-economic backgrounds, spread across geographies, have variable product choices etc. Dynamic clustering helps the retailer identify patters or factors that drive store performance. They could be similar local patterns across stores in different locations. Product and consumer attributes are important for in-season store sales performance.

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Green Retailing

 

Eliminating waste.

Increasing efficiency

Reducing Costs.

Starting from as small environment friendly packaging material, giving your customers reusable shopping bags instead of plastic and implementing energy efficient practices like using renewable sources of energy to power operations is considered green retailing. It includes energy-efficient stores offering energy-efficient products, green merchandise, promotion and distribution, and reduced packaging.

Here’s how Nike and Wal-Mart are doing it :

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Point Of Sale

Point of Sale- ( Abbr. – POS) Place where a sale is made.

What is POS?

Point of sale, also referred to as point of purchase, is where a customer completes a sales transaction. Anyplace where a product/service is sold/bought is the point of sale. It could be a mall, restaurant, grocery store, a theatre, salon, stationary shop or anywhere you make a transaction; the exchange of a product/service for a certain monetary value. 

What is POS transaction?

The “point” where a customers tenders payment using any mode of payment, namely cash, card, wallet or mobile payments etc. in exchange for goods/services.

What is POS on a bank statement?

POS on a bank statement is usually used to describe the type of sale. You can see POS on your bank statement if you used your Debit Card to pay and complete a sales transaction. The details of the vendor you purchased from might appear in case of a Credit Card Statement.

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