initial idea presentation for cs410 instant receipt tracker online database
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Initial Idea Presentation for CS410 Instant Receipt Tracker Online Database. Fall 2009. Outline. Introduction Problem Statement Customer Current Return Policies Solution Solution Process Diagram Competition Hardware/Software Benefits Potential Problems References. Introduction. - PowerPoint PPT PresentationTRANSCRIPT
Initial Idea Presentation for CS410
Instant Receipt Tracker Online Database
Fall 2009
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Outline Introduction Problem Statement Customer Current Return Policies Solution Solution Process Diagram Competition Hardware/Software Benefits Potential Problems References
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Introduction
Computer Science Major Graduating in May 2010 Currently working as a government
civilian for SPAWAR– Supporting Next Generation Enterprise
Network (NGEN)
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Problem Statement Consumers usually purchase products
without the intent of having to return them. Thus, causing them to discard of the receipt.
However, sometimes products need to be returned (i.e. clothes not fitting properly, malfunctioning equipment, etc.).
In some cases, receipts are required to return a product. Therefore, if you don’t have the receipt, you are stuck with a product that you do not want.
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Customer
Any consumer, currently possessing a credit/debit card, that wishes to automatically retain copies of receipts
For example, this would include frequent shoppers of Overstock.com, Target, Wal-Mart and Best Buy, etc.
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Current Return Policies Overstock.com
– “up to a 30% restocking fee for some open, used, or late items” 1
Target– “technically offers no returns without a receipt, but has an
undisclosed policy of allowing a limited number” 1
– 90 days from purchase 2
Wal-Mart – 90 days from purchase 2
Best Buy 3
– 14 days for computers, monitors, projectors, camcorders, digital cameras, and radar detectors
– 30 days for all other products– in some instances, a restocking fee applies
1 http://www.consumerworld.org/pages/returns.htm2 http://www.mouseprint.org/2007/12/24/retailers-return-policies-the-2007-fine-print/3 http://www.bestbuy.com/olspage.jsp?type=page&contentId=1117177044087&id=cat12098
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Solution Utilize credit card machines that are currently
in place at retail stores When a consumer purchases products with a
credit/debit card, the information on the receipt for the transaction would automatically be stored in a online database
Consumers would subscribe to this database, thus having the receipt information readily available
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Solution Process Diagram
Consumer makes a purchase Purchase information is sent to bank
Bank processes information and stores receipt information in an online database
Consumer is able to view receipt information using a web interface
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Competition
Handheld receipt scanner– Allows you to scan receipts easily
Pro – do-it-yourself tool Con – not as instantaneous or readily
available as the Instant Receipt Tracker Online Database
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Hardware/Software Utilize existing credit card machines in
retail stores Database to store receipt information Web interface for consumer access Anticipated Cost:
– ~$10K• This includes initially designing and building the
database and web interface for consumer access
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Benefits Instantaneous recording and storing of
receipt information Easily accessible via a web interface No more losing receipts Able to return items even though you
don’t have a hard-copy of the receipt Essentially – more money in your
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Potential Problems
Businesses may not want to support the bank offering a service that may potentially decrease their revenue.– Example: If customers actually use this
product, they will always have a means to return an item. Whereas, if they didn’t have this product and lost their receipt, the business would benefit.
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References1 http://www.consumerworld.org/pages/returns.htm2 http://www.mouseprint.org/2007/12/24/retailers-return-
policies-the-2007-fine-print/3http://www.bestbuy.com/olspage.jsp?
type=page&contentId=1117177044087&id=cat12098