Digital business Definitions

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  • A

    academic analytics

    Academic analytic's is the application of business intelligence (BI) tools and strategies to guide decision-making practices in educational institutions.

  • Adobe Flash Player

    Adobe Flash Player is software used to stream and view video, audio and multimedia and Rich Internet Applications (RIA) on a computer or supported mobile device.

  • B

    balanced scorecard

    The balanced scorecard is a management system aimed at translating an organization's strategic goals into a set of performance objectives that, in turn, are measured, monitored and changed if necessary to ensure that the organization's strategic goals are met.

  • business process automation (BPA)

    Business process automation (BPA) is the use of technology to complete business processes with minimal human intervention.

  • business process management software

    Business process management software (BPMS) helps companies design, model, execute, automate and improve a set of activities and tasks that, when completed, achieve an organizational goal.

  • C

    CFO (Chief Financial Officer)

    CFO (Chief Financial Officer) is the corporate title for the person responsible for managing the company's financial operations and strategy.

  • chief data officer (CDO)

    A chief data officer (CDO) is a C-level executive who is responsible for an organization's data use and data governance.

  • Chief Digital Officer (CDO)

    A chief digital officer (CDO) is an executive enlisted to help businesses transform traditional IT policies and business processes to accommodate digital sectors such as mobile technology and applications and Web-based information management and marketing trends.

  • competitive advantage

    Competitive advantage is the favorable position an organization seeks in order to be more profitable than its rivals.

  • crowdsourcing

    Crowdsourcing is the practice of turning to a body of people to obtain needed knowledge, goods or services.

  • D

    data collection

    Data collection is a process for gathering information from different sources. In business, data collection helps organizations answer relevant questions and evaluate possible business outcomes.

  • data products

    A data product is digital information that can be purchased. 

  • digital disruption

    Digital disruption is the change that occurs when new digital technologies and business models affect the value proposition of existing goods and services.

  • digital economy

    The digital economy is the worldwide network of economic activities, commercial transactions and professional interactions that are enabled by information and communications technologies.

  • digital ecosystem

    A digital ecosystem is a group of interconnected information technology resources that can function as a unit. In order for an ecosystem to operate efficiently, all components must be compatible.

  • digital transformation

    Digital transformation (DX) is the adoption of new technologies to improve an organization's processes, products and services. According to a recent survey, digital transformation and the ability to compete against born-digital organizations is the No. 1 concern of C-suite leaders.

  • dot-com bubble

    The dot-com bubble, also referred to as the Internet bubble, refers to the period between 1995 and 2000 when investors pumped money into Internet-based startups in the hopes that these fledgling companies would soon turn a profit.

  • E

    enterprise social media

    Enterprise social media is a category of online communications channels dedicated to corporated-based input, interaction, content-sharing and collaboration.

  • enterprise social networking

    Enterprise social networking is an organization's use of social media, internally and externally, to connect individuals who share similar business interests or activities.

  • enterprise social software

    Enterprise social software is a general term that describes social networking and collaboration tools used in large organizations.

  • G

    Generation Facebook (Generation F)

    Generation Facebook (Generation F) is a term used to define millennials who have grown up using social media as their primary networking tool.

  • H

    hackathon

    A hackathon, also known as a codefest, is a social coding event that brings computer programmers and other interested people together to improve upon or build a new software program.

  • I

    Information Age

    The Information Age refers to the idea that access to and the control of information is the defining characteristic of this current era in human civilization.

  • information superhighway (infobahn)

    Information superhighway is a term that was used mainly in the 1990s to describe a national communications network that would span the United States and allow Americans to quickly access and exchange information via voice, data, video and other services.

  • Instagram

    Instagram is a free, online photo-sharing application and social network platform that was acquired by Facebook in 2012.

  • interim CIO (interim chief information officer)

    An interim CIO is an experienced chief information officer employed by a company on a temporary basis to lead or transform its IT organization.

  • M

    metacoin platform

    Metacoin platform is the information technology infrastructure that enables digital currency and digital asset transactions.

  • N

    newsfeed

    A news feed (newsfeed) is list of newly published content on a website. End users can receive push updates for new content on a site by subscribing to the site's news feed. 

  • Ning

    Ning iNing is an web-based social network platform that allows an organization to build customized social websites and interactive virtual communities. 

  • R

    Reddit

    Reddit is a social news website and forum where content is socially curated and promoted by site members through voting.

  • S

    sharing economy

    The sharing economy, also known as collaborative consumption or peer-to-peer-based sharing, is a concept that highlights the ability -- and perhaps the preference -- of individuals to rent or borrow goods rather than buy and own them.

  • smart machines

    A smart machine is a device embedded with machine-to-machine (M2M) and/or cognitive computing technologies such as artificial intelligence (AI), machine learning or deep learning, all of which it uses to reason, problem-solve, make decisions and even, ultimately, take action.

  • Social media management software (SMMS)

    Social media management software (SMMS) is a tool that allows organizations to monitor and analyze online conversations from different communication channels.

  • social network

    A social network, in technology parlance, is a website or other application where people, often of similar interests, come together to communicate with each other and share information including photos, videos, audio and written messages.

  • social shopping

    Social shopping is a type of e-commerce that seeks to involve people with similar tastes in an online shopping experience.

  • U

    user-generated content (UGC)

    User-generated content (UGC) is the words and photos that unpaid contributors create and provide to publications, particularly Web properties.

  • Y

    YouTube

    YouTube is a free video-hosting website that allows members to store and serve video content.

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