Digital business transformation Definitions

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  • #

    99.999 (Five nines or Five 9s)

    In computers, 99.999 (often called "five 9s") refers to a desired percentage of availability of a given computer system.

  • subscription management

    Subscription management is the process of overseeing and controlling all aspects of products and services sold repeatedly through a weekly, monthly, quarterly or yearly subscription-based pricing model.

  • A

    academic analytics

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

  • adaptive enterprise (or adaptive organization)

    An adaptive enterprise (or adaptive organization) is a corporation, institution, or agency in which the business demand and the IT (information technology) supply are matched and synchronized at all times.

  • 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.

  • Agile business intelligence (BI)

    Agile business intelligence (BI) is a fast and flexible process that uses agile software development (ASD) methodologies to enable rapid development and allow users to efficiently adapt intelligence-based strategy to business needs.

  • Agile Manifesto

    The Agile Manifesto is a document that identifies four key values and 12 principles that its authors believe software developers should use to guide their work.

  • Agile Project Management

    Agile Project Management (APM) is an iterative approach to planning and guiding project processes.

  • application modernization

    Application modernization is the refactoring, re-purposing or consolidation of legacy software programming to align it more closely with current business needs. The goal of an application modernization project is to create new business value from existing applications.

  • application transformation

    Application transformation is a process that aims to assess, modernize and manage applications in an enterprise organization.

  • artificial neuron

    An artificial neuron is a connection point in an artificial neural network. Artificial neural networks, like the human body's biological neural network, have a layered architecture and each network node (connection point) has the capability to process input and forward output to other nodes in the network.

  • atom

    An atom is a particle of matter that uniquely defines achemical element.

  • audit trail

    In accounting, an audit trail is the sequence of paperwork that validates or invalidates accounting entries.

  • B

    B2E (Business2Employee or Business-to-Employee)

    B2E is business-to-employee, an approach in which the focus of business is the employee, rather than the consumer (as it is in business-to-consumer, or B2C) or other businesses (as it is in business-to-business, or B2B).

  • 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.

  • benchmark

    A benchmark is a point of reference by which something can be measured.

  • benefit corporation

    Benefit corporation is a type of corporate structure recognized by some state governments in the United States. In addition to being profitable, a benefit corporation assumes the legal responsibility of considering its impact on society and the environment. 

  • bimodal IT (bimodal information technology)

    Bimodal IT is a two-tiered IT operations model that allows for the creation of IT systems and processes that are stable and predictable as well as agile and fast.

  • blockchain

    Blockchain is a type of distributed ledger for maintaining a permanent and tamper-proof record of transactional data.

  • Broadvision

    BroadVision makes sophisticated e-commerce software for companies who want to sell and service products over the Web.

  • bundling

    In purchasing, bundling is the practice of marketing two or more products or services in a single package with one price.

  • business activity monitoring (BAM)

    Business activity monitoring (BAM), also called business activity management, is the use of technology to proactively define and analyze critical opportunities and risks in an enterprise to maximize profitability and optimize efficiency... (Continued)

  • business agility (BA)

    Business agility (BA) is an concept whereby organizations seek to approach their operations and resources in a flexible, responsive manner.

  • business integration

    Business integration is a strategy wherein the goal is not only to sync IT and business cultures and objectives, but also to assimilate technology into business strategy and goals.

  • business model innovation

    Business model innovation is the implementation of unique concepts to support a company's viability, including the development of new processes for delivering products and services to customers.

  • business process

    A business process is an activity or set of activities that can accomplish a specific organizational goal.

  • business process automation (BPA)

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

  • business process improvement (BPI)

    Business process improvement (BPI) is a management exercise in which enterprise leaders use various methodologies to analyze their procedures to identify areas where they can improve accuracy, effectiveness and/or efficiency and then redesign those processes to realize the improvements.

  • business process management (BPM)

    Business process management (BPM) is the discipline of improving a business process from end to end by analyzing it, modelling how it works in different scenarios, executing improvements, monitoring the improved process and continually optimizing it.

  • Business Process Management Initiative (BPMI)

    Established in August 2000, the Business Process Management Initiative (BPMI) is a non-profit organization that exists to promote the standardization of common business processes, as a means of furthering e-business and B2B development.

  • 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.

  • business process mapping

    Business process mapping is the visual display of the steps involved in a business process from start to finish.

  • business process monitoring

    Business process monitoring is real-time scrutiny of an activity or set of activities that have been set up to accomplish a specific organizational goal.

  • business process reengineering (BPR)

    Business process reengineering (BPR) is an approach to change management in which the related tasks required to obtain a specific business outcome are radically redesigned. An important goal of BPR is to analyze workflows within and between enterprises in order to optimize end-to-end processes and eliminate tasks that do not provide the customer with value.

  • business process visibility

    Business process visibility, also called process visibility, is the ability to accurately and completely view the processes, transactions and other activities operating within an enterprise. 

  • business service management (BSM)

    Business service management (BSM) is an approach to overseeing information technology that emphasizes treating IT offerings as part of the larger enterprise strategy, and provisioning IT resources based on an understanding of the business' most pressing needs.

  • business services

    Business services is a general term that describes work that supports a business but does not produce a tangible commodity. 

  • business technology (BT)

    Business technology (BT) is a term that points specifically to the technology used by businesses to treat information.

  • C

    C-Level (C-Suite)

    C-level is a term used to describe senior business leaders with high-ranking executive titles.

  • 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.

  • change management

    Change management is a systematic approach to dealing with the transition or transformation of an organization's goals, processes or technologies.

  • change management strategy

    A change management strategy is a systematic approach to making adjustments to the application of a set of tools, processes or skills during a project or initiative.

  • change request

    A change request is a formal proposal for an alteration to some product or system.

  • 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.

  • Chief Operating Officer (COO)

    A Chief Operating Officer (COO) is the corporate executive who oversees ongoing business operations within the company.

  • Chief Transformation Officer (CTO)

    Chief transformation officer is an executive role, often in the C-suite, that focuses on bringing about change as well as growth in revenue and profit to an organization.

  • CIO (Chief Information Officer)

    A chief information officer (CIO) is the corporate executive in charge of information technology (IT) strategy and implementation.

  • CKO (chief knowledge officer)

    Chief knowledge officer (CKO) is a corporate title for the person responsible overseeing knowledge management within an organization.

  • clean room technique (clean room design)

    The clean room technique is a process in which a new product is developed by reverse engineering an existing product, and then the new product is designed in such a way that patent or copyright infringement is avoided.

  • collaborative computing

    Collaborative computing is a diverse collection of information technologies designed to support work between individuals. Organizations implementing collaborative computing technologies do so as a way to improve workforce productivity and creativity by enabling individual workers to more readily access each other and the information they need when they need it.

  • competitive advantage

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

  • Compliance: Glossary

    A printable glossary of compliance-related terms.

  • core competency (core competencies)

    Core competency is an organization's defining strength, providing the foundation from which the business will grow, seize upon new opportunities and deliver value to customers.

  • critical success factors

    Critical success factors are a limited number of key variables or conditions that have a tremendous impact on how successfully and effectively an organization meets its mission or the strategic goals or objectives of a program or project.

  • crowdsourcing

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

  • cutting edge

    Cutting edge is an adjective used to describe the newest, most advanced version of a product or service. The phrase cutting edge has a positive connotation and can be contrasted with the phrase bleeding edge, which has a negative connotation. Bleeding edge implies that a product or service is so new that its adoption could be harmful. 

  • 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. 

  • demand shaping

    Demand shaping is a supply chain management strategy where a company uses tactics such as price incentives to influence the number of customer requests for a certain product in order to match its planned supply.

  • deputy CIO (deputy chief information officer)

    Deputy CIO is a role within some organizations that generally has responsibility for overseeing day-to-day IT operations. The role is more prevalent in the public sector than in the private sector and often can lead to a CIO position.

  • device ID (device identification)

    A device ID (device identification) is a distinctive number associated with a smartphone or similar handheld device.

  • 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 labor

    Digital labor is work performed by robotic automation technology.

  • 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

    e-business (electronic business)

    E-business (electronic business) is the conduct of business processes on the internet.

  • e-form (electronic form)

    An e-form (electronic form) is a computer program version of a paper form.

  • EBITDA ( earnings before interest, taxes, depreciation, and amortization)

    EBITDA stands for 'earnings before interest, taxes, depreciation, and amortization.'

  • ebXML (electronic business xml)

    ebXML (Electronic Business XML) is a project to use the Extensible Markup Language (XML) to standardize the secure exchange of business data.

  • embedded IT

    Embedded IT is the process of inserting information technology staff and expertise into other business units in order to quickly and more effectively identify and pursue new business opportunities and increase the likelihood that IT projects are deployed successfully.

  • emotional intelligence (EI)

    Emotional intelligence (EI) is the area of cognitive ability that facilitates interpersonal behavior. The term was popularized in 1995 by psychologist and behavioral scientist Dr. Daniel Goleman. According to Goleman, emotional intelligence is the largest single predictor of success in the workplace.

  • enterprise relationship management (ERM)

    Enterprise relationship management (ERM) is software that analyzes data it has about its customers to develop a better understanding of the customer and how the customer is using its products and services.

  • enterprise risk management (ERM)

    Enterprise risk management (ERM) is the process of planning, organizing, leading, and controlling the activities of an organization in order to minimize the effects of risk on an organization's capital and earnings.

  • 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.

  • executive leadership

    Executive leadership is the ability of an organization's management to guide and motivate employees while meeting organizational goals.

  • extended enterprise

    Extended enterprise is the concept that a company does not operate in isolation because its success is dependent upon a network of partner relationships.

  • F

    feature creep

    Feature creep (sometimes known as requirements creep or scope creep) is a tendency for product or project requirements to increase during development beyond those originally foreseen, leading to features that weren't originally planned and resulting risk to product quality or schedule.

  • first mover

    In the business world, a first mover is a company that aims to gain an advantageous and perhaps insurmountable market position by being the first to establish itself in a given market.

  • G

    gap analysis

    A gap analysis assesses the differences between the current and desired performance levels of a company's systems or applications.

  • 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.

  • Google (the company)

    Google is a multinational, publicly-traded organization built around the company's hugely popular search engine. Google's other enterprises include Internet analytics, cloud computing, advertising technologies, and Web app, browser and operating system development.

  • group think

    Group think (also spelled groupthink) is a phenomenon that occurs when group's need for consensus supersedes the judgment of individual group members.

  • 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.

  • holistic (holistic technology)

    Holistic (holistic technology) is a concept concerned with treatment of entire systems, rather than the analysis, treatment or segmentation of parts of those systems.

  • homologation

    Homologation is the certification of a product to indicate that it meets regulatory standards.

  • hoteling

    Hoteling (also called office hoteling) is the practice of providing office space to employees on an as-needed rather than on the traditional, constantly reserved basis. This reduces the amount of physical space that an enterprise needs, lowering overhead cost while (ideally) ensuring that every worker can access office resources when necessary. (Continued...)

  • human-centric BPM

    Human-centric business process management is an approach to BPM  that considers human skills and activities first and uses automated functions to support them. Most BPM suites include human-centric BPM features.

  • I

    ICT (information and communications technology, or technologies)

    ICT, or information and communications technology (or technologies), is the infrastructure and components that enable modern computing.

  • incubator

    In the business world, an incubator is an enterprise that is set up to provide office space, equipment, and sometimes mentoring assistance and capital to new businesses that are just getting started.

  • 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.

  • infrastructure management (IM)

    For an organization's information technology, infrastructure management (IM) is the management of essential operation components, such as policies, processes, equipment, data, human resources, and external contacts, for overall effectiveness.

  • innovation management

    Innovation management is the process of managing an organization's innovation procedure, which helps increase competitive advantage and drives business growth.

  • innovation management software

    Innovation management software, a subset of enterprise collaboration software, helps company digitally manage the generation, collection and evaluation and launch of new ideas from internal employees and external sources.

  • innovation process management (IPM)

    Innovation process management (IPM) a systematic approach to nurturing the creative capabilities of employees and creating a workplace environment that encourages new ideas for workflows, methodologies, services or products.

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