Draft Continuation Chapter ten The Impact of Software for Running Electronic Information Markets (Author: Naseem Sherwani)

Types of Software

It is interesting to note that software and software industry are booming due to changing nature of markets and product processes. Software are the part of products and processes in any market for example trading of cell phones, market shares, entertainment, so on and so forth. It is important to understand the types of software most commonly used in the day to day businesses and functioning of these markets (Menezes, 2002).

According to Las Lomitas School District Technology Guide (2003), “Word processesing is a primary piece of software used to cope with a variety of needs in telecommunication projects. It is significant to know that sharing of information and ideas are usually created in word processing, when suppliers and clients participate in a project that requires sharing of information, and ideas. These ideas can be transferred electronically, and opened and viewed in any platform or application. There are inherent advantages of electronically transferred information or ideas, is more readable, storable, usually faster to write and saves stationery items. The word processing products are Microsoft office suite, 2003 are usually installed on PC or Mac machines. I am citing directly the description of software as presented by the Las Lomitas School District Technology Guide (2003)

Spreadsheet

These kinds of software keep track of information for specific projects, whether one is participating or managing it. For example, in case of participating the free markets, the shared data can be placed into a spreadsheet and available formulas can assist in comparing and analyzing the data as well as create colorful graphics and displays.

Database

These programs are helpful in the project management information systems. It is necessary to make a careful selection of fields to store the required data. Such as in case of IEMs, these data base programs give a best clue of the markets potential, and keep track of the individual participants in making best decisions.

Macintosh:

PC products

Communications

Communication software in electronic information markets are purchased and installed on computers. It is necessary to determine which kind of communication software is required depends upon the type of access available, which platform is being used and what models of computers being installed.

Web Browsers

A majority of online projects have some connections or interface with the World Wide Web (WWW). A piece of software called Web Browser helps the visitors to access information available on the internet in a graphical user interface (GUI). Once user is connected to the internet via either a high speed connection such as frame relay or Wireless or a dial up connection with modem, a web browser can be opened to access to the web. There are different kinds of browsers for Mac and PC machines.

Macintosh Products:

PC Products:

File Transfer Protocol (FTP)

FTP software is a powerful telecommunication tool, which allows for easy file transfer or information sharing between the users through common FTP sever.

Compressions

Compression software helps to shrink the size of files before the files are electronically transferred through internet. This compression of files increases the speed of transmission. Once this kind of file is received it is necessary to have de-compressed software that will help the files to return in normal size.

Web Design

In running the markets, web design software is necessary to be visible on the World Wide Web.

Dera (2006) presents description of Software. Freeware (a combination of “free” and “software’) refers to programs that are distributed and used for free. The researcher identifies the pitfalls inherent in free software that they focus only on a few functions. These free software also lack many add-ons in retail programs. They also

Accordint to Goldsborough (2006) there are 100,000 open source software products. The better known ones include, ‘The Linux Operating system’, a replacement for Microsoft Windows, the browser Firefox a replacement for Microsoft Internet Explorer, and the office suite OpenOffice, a replacement for Microsoft Office.

As the open source software for which the set of software instructions, or its source code, is freely available. The user can modify the source code as per requirement. In most cases, as the source code is openly available, the program is also free. The functions that can be performed with freeware or open source include creating spreadsheets, designing web sites, scanning for viruses, etc. Open source software is good to use if there is no requirement such as to be backed up by a multi national company, a 24 hour support system (usually we have to pay for this service), or fancy advertising. Open source may be a great help if the client is willing to work with a program and it has equal or better pay off in the end (Dera 2006).

However, organizations that currently pay the significant licensing fees for commercial software stand to gain the most from open source (Goldsborough, 2006). The growing nature and development of markets have created the debate on software standardization among creators, implementers and users (Krechmer, 2006).

References

Dera, J. M. (2006, February). Free software. Family Practice Management.56-58.

Retrieved March 23, 2006, from www.aafp.org/fpm.pp56-58

Goldsborough, R. (2006). Mastering computers, Retrieved from http://www.

Techdirection.com/computing.html.

Krechmer, K. (2006, January-June). Open standards requirements. International Journal

of IT Standards & Standardization Research, 4(1), 43-61

Las Lomitas school district technology guide 2003 The Basics of our software.

Mattlia, C. (n.d.). Information technologies and financial markets. Universita’ degli

Studdi di Torino, Facolta’ de Economia. 1-2.

Menezes, W. 2002).To CMMI or Not to CMMI: Issues to Think about. The Journal of

Defense Software Engineering. Retrieved March 26, 2006 from

http://www.stsc.hill.af.mil/crosstalk/2002/02/menezes.html