Glossary

A complete glossary of the leading project management terminology

Charlotte Davis

SaaS computing

  1. what is cloud computing
    • Cloud computing involves delivering various services through the cloud or the internet. The services include networking, databases, data storage, software, and servers. With cloud computing, businesses do not need to store files on local storage or hard drive devices. Instead, they store it in a remote database. Software programs and data are available in the cloud as long as access to the web exists. Cloud computing removes the hard work involved in processing and storing data. Every file and service is in cyberspace instead.
  2. what is geography in cloud computing
    • Cloud computing refers to a remote service that creates and changes applications. This is through the internet or ‘the cloud’. Geography plays a serious role in this. As seen early on, it can be a crucial factor in some issues. Both locations of the data center and network will determine the delay in service time. Access to data may cause conflict to data authority between countries. Cybersecurity is a pressing matter for many as well. The cloud’s position is of great impact.
  3. What is scrum
    • Scrum is used to develop software based on incremental and iterative processes. It is a popular Agile development methodology that offers flexibility, speed, adaptability, and efficiency to deliver value during the project development phase. Scrum ensures continuous progress, collective responsibility, and clear communication. The process begins with the development idea and lists characteristics by priority according to the product owner’s needs. Also, it is a management framework for self-organization that allows users to self-manage, learn, and adapt when necessary.
  4. what is linux
    • Linux is an operating system that manages a computer’s resources and hardware. It is open source and manages computers’ CPU, storage, and memory. Linux connects the software to the physical resources by sitting between hardware and applications. Also, its code is available to all for editing, viewing, and contributing. It has a graphical interface with photo editors, word processors, and video editors. Linux is also easily customizable; users can select core components like the user interface and system display graphics.
  5. what is devops
    • DevOps is a combination of development and operations. It aims to increase the software development and delivery process’s speed, efficiency, and security. DevOps involves people working in tandem to develop, build, and deliver software on time. It includes some practices to accelerate delivery through collaboration, automation, iterative improvement, and quick feedback. DevOps stems from an Agile approach and expands to software development. Businesses adopt DevOps processes to improve the value and flow of their applications. Also, they encourage a collaborative environment during stages of development.

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  1. what is opportunity cost
    • Opportunity cost is an economic principle that represents the gain individuals lose when choosing one investment over another. It is the value of the investment they did not make. Opportunity costs are costs that arise after allocating resources to a business goal. Hence, the individual forgoes the chance to allocate the resources to another goal. Opportunity costs may be positive or negative. You can calculate it by subtracting the chosen option’s return on investment from the forgone option.
  2. what is big data
    • Big data refers to vast and complex data sets that are continuously growing. Various sources contribute to the rapid growth of these data sets. Thus, their rapid growth and complex nature make them hard to deal with for traditional data-processing applications. Instead, companies use various advanced analytic techniques against them.
    • Big data has three structures: structured, unstructured, and semi-structured. Examples of big data include customer databases, medical records, and social networks. A few others are documents, emails, and data used in transportation and marketing.
  3. what is data mining
    • Data mining consists of sorting through and extracting large data sets. It usually utilizes a wide range of techniques. The data involved in data mining is typically related to statistics or large database systems and sometimes machine learning.
    • Data mining helps discover patterns that can create solutions for business problems. It can also detect anomalies within databases that can help find the root cause of a problem. Aside from that, it sees relationships between data and their exact influences on each other.
  4. what is azure
    • Azure is a cloud computing platform offered by Microsoft. It provides various cloud services such as virtual computing, storage, and analytics. Microsoft Azure also comes with solutions such as Infrastructure as a Service (IaaS) and Platform as a Service (PaaS).
    • Azure works by containing a large collection of servers and hardware for networking. Together, they run a set of applications and services for the clients. Through Azure by Microsoft, organizations and individuals can easily deploy and manage services and applications.
  5. what is latency
    • Latency refers to the time it takes for data to travel from its origin to its destination. It’s a common term in various industries such as computer networking and telecommunications.
    • Latency is also a familiar concept in games. In this case, high latency would mean that the game is lagging. This means there’s a delay between the player’s input and the game’s response. Low latency, meanwhile, would be ideal, as it means that the game is responding in real time to the player’s actions.
  6. what is integration
    • Integration involves the connection of applications, data, devices, and APIs across an organization to enhance productivity, efficiency, and agility. Also, integration is essential for business transformation because it ensures that everything works together. The process includes fundamental changes that impact how the business runs and adapts to market shifts. It connects and adds value by providing new functionalities. An example of integration in IT is Apache Kafka, which allows businesses to integrate data streams with their applications to act on them in real time.
  7. what is sla
    • SLA stands for “service level agreement.” It is the standard of service the customer expects from the supplier. Also, it includes the terms of service and penalties and remedies applicable to the seller if the service falls short. In most cases, SLAs are between suppliers and companies. They are also a part of the vendor contract. SLAs contain information on the agreed services in one document. It also states the responsibilities, metrics, and expectations, so parties to the contract cannot feign ignorance.
  8. what is microsoft azure
    • The Microsoft Azure tool is a public cloud platform. It consists of different services, including infrastructure as a service, database service capabilities, and platform as a service. Microsoft Azure is for virtual computing, analytics, networking, and managing multiple clouds. The platform replaces or supplements on-premise servers. It has more than 600 services and functions as a web-based platform. Businesses can use Microsoft Azure to build applications and services. Also, they can test, manage and deploy applications with the Microsoft Azure platform.
  9. what is elasticity
    • Elasticity relates to the ability to raise or reduce the resources used by a cloud-based application. This concept assists users in avoiding over- or under-provisioning of available resources. Without elasticity, IT departments must provision or deprovision resources in response to demand fluctuations as they occur. Elasticity also consists of a cloud computing service’s ability to adjust to meet the changing demands of an organization. This concept occurs when online retailers look to boost their computing resources at the point of sale.
  10. what is middleware
    • Middleware consists of a software package that sits between an OS and the applications that operate on it. This allows for data and communication management between the various software applications. Middleware allows users to intelligently and efficiently connect applications, allowing them to innovate more quickly. It serves as a link between various technologies and databases, allowing them to seamlessly integrate into one system. Database middleware, application middleware, and web middleware are common examples of middleware. Integrations of middleware can range from game engines to application frameworks.
  11. what is digital transformation
    • To adapt to changing business and market trends, digital transformation entails employing digital technologies to develop new business processes and customer experiences. When it comes to digital transformation, you can also modify existing processes. This is to be able to recreate the image of an organization to fit new industry trends. Digital transformation includes the integration of computer-based technological advances into an organization’s products, processes, and strategies. Making use of AI-driven insights to improve the sales efficiency of an organization is a common example of digital transformation.
  12. what is data analysis
    • Researchers analyze data in order to discover useful information, draw conclusions, and support decision-making. Inspecting, processing, modifying, and modeling data are all part of data analysis. Data analysis also entails applying statistical or logical techniques thoroughly to define and demonstrate, compress and recapitulate, and evaluate data. Analyzing data assists an organization in optimizing its performance and performing more efficiently. It also enables an organization to maximize profits or make enough strategic decisions. Excel, Python, Looker, Redash, Metabase, and Microsoft Power BI are some data analysis tools.
  13. what is deferred revenue
    • Deferred revenue includes any money obtained in advance from clients for products or services that they will get in the future. Annual subscription payments made at the start of the year or advanced rent payments are popular uses of deferred revenue. Deferred revenue pertains to the advance payments from an organization for services or products that they’re going to deliver later. Unearned or deferred revenue is prevalent among software and insurance companies that demand forthright payments in return for service periods.
  14. what is virtualization
    • Virtualization consists of a system that enables a computer to offer up its hardware resources across various digitally separated settings. This is the underlying technology that drives cloud computing. Each virtualized environment uses its own assigned resources, which include processing power, memory, and storage. Virtualization creates a layer of abstraction over computer hardware by utilizing software. This enables a single computer’s hardware elements—processors, memory, storage, etc.—to divide itself into various virtual computers. The “creation of a virtual (instead of an actual) version of something” is what virtualization entails.
  15. what is open source
    • Open-source software comprises a code intended to be publicly available, so anyone can customize and distribute it however they see fit. The software operates under a license that grants users copyrights. As a result, users have the right to utilize, modify, and transmit the software and its source code to anyone for whatever reason. Open-source software includes GNU, Linux, Mozilla Firefox, VLC media player, VNC, the Apache web server, LibreOffice, SugarCRM, and GIMP. An open-source program can also contain bugs.
  16. what is database
    • A database consists of an extensive array of organized information, or data, usually stored electronically. The primary function of a database is to operate on a considerable amount of information by collecting, fetching, and handling data. In general, computer databases store collections of data records, or files. Some of the many databases available include Sybase, MySQL, MongoDB, Oracle, Informix, SQL Server, and PostgreSQL. Databases operate on a four-phase system: field, service, purpose, and basics. Oracle and MySQL are examples of popular database management systems.
  17. what is cloud storage
    • Cloud storage consists of multiple off-site locations where you can store digital data. These multiple off-site locations, known as the cloud, are logical pools that span multiple servers. Cloud storage also comprises remote storage platforms that manage, and backup your data. Google Docs, MediaMax, Xdrive, and Strongspace are all examples of cloud storage. With the assistance of a cloud storage solution provider, businesses can store terabytes of files and data in the cloud. Some popular cloud storage solution providers include IBM Cloud, Google Cloud, and Microsoft Azure.
  18. what is a float
    • A float is applicable when looking to represent noninteger and fractional numbers in most technical and engineering analyses. Floats also make up one of the main data types in Python. We call the data type “float,” but it is short for “floating point number.” In programming, a float consists of numeric fields that store real, variable-type numbers with decimal points. There are eight ways to present a float value when it comes to programming with Python. 1.23 and 0.024 are examples of float values.
  19. what is churn
    • Churn consists of the measured rate at which a SaaS organization risks losing customers or revenue. The churn rate of an organization represents the number of customers who discontinue doing business with the organization over a time period. It reflects the health of a company’s existing customer base. There are two ways to measure an organization’s churn rate: customer-based and revenue-based. Customer churn is an important metric in an organization’s customer service space. Revenue churn measures churn based on income loss instead of the total number of customers.
  20. what is scope creep
    • Scope creep occurs when changes to scope do not adhere to a defined process to avoid haphazard changes. This usually happens when an organization doesn’t clearly establish, record or monitor a project’s scope. Scope creep consists of the lack of scope or requirement management needed to manage a project. The addition of new deliverables or the absence of a deadline are the two most common causes of scope creep. Organizations increase the amount of work by failing to define scope, which raises costs.
  21. what is a contingency plan
    • A contingency plan is an alternative devised along with the main plan and is more known as “Plan B”. It is made to be used as a backup in case the main plan’s outcome goes in the wrong direction. Contingency plans are a crucial part of risk management and are a common requirement in businesses and governments. These plans consist of five steps, namely: organizing a planning team, assessing the scope of the problem, developing the plan, testing the plan, and keeping it up to date.
  22. What is RACI
    • Standing for responsible, accountable, consulted, and informed, RACI is a useful tool that can solve lots of problems while ensuring the project runs smoothly. It involves small things like for instance assigning responsibilities for everyone to play their part without conflicts.
      RACI provides a clear definition of who will be accountable, or, basically, who is responsible for every role. It can help with role re-organization, improving employee turnover, workload analysis, and project management. But it should never replace the project plan; it should complement it.
  23. what is an end user
    • As the name suggests, the end user is the final recipient of a product or service. This excludes people involved in the process of getting it into the customer’s hands such as couriers or retailers. Examples of end users include a gamer playing a video game, a small business owner using accounting software or the driver of an electric vehicle. So, in essence, an end user is a person (or organization) using a product or service for its intended purpose.
  24. what is microservices
    • Microservices are architectural patterns that break down applications into smaller well-refined modules. These modules are independent versions of a portion of the application. They operate independently of the application and are modifiable throughout the process.
      Microservices are a variant of the service-oriented architecture style. They are a solution to the lack of flexibility of the monolithic architectural style. Microservices create modularity, scalability, and distributed development for applications. They mainly help teams develop and deploy services without interrelation with other application parts.
  25. what is Node
    • Node.js is open-source software that enables JavaScript developers to write back-end code. The one thing that sets it apart is that when you write code using Node, you can execute it offline, instead of using a web browser. Developers use Node to develop applications, mostly on the server side. Since the platform is open-source, anyone can contribute to it. Another salient feature of Node is that it can run on most operating systems. Some of which are Microsoft Windows, macOS, Unix, and Linux.
  26. what is hypervisor
    • Hypervisor software layer enables multiple virtual machines (VMs) to run on one server or host machine. Enterprise computing environments use hypervisors to increase hardware utilization. It helps to improve costs, flexibility and agility in managing a business’s IT resources. There are two types of hypervisors. First are native hypervisors which run directly on the host machine’s hardware. Then, we have hosted hypervisors. They run atop of existing operating systems, such as Windows or Linux. Examples of hypervisors include Parallels Desktop, VMware ESXi, and VMware Workstation.
  27. what is predictive analytics
    • Predictive analytics is a machine learning variant that uses mathematical and computational methods to analyze historical data. Its main purpose is to produce models of applications that are predictive of the future. The said models are outcomes of an application after an influencing factor has been added. It is a crucial part of identifying risks and opportunities and capturing relationships in accordance with a particular set of conditions. This machine learning form is common in organizations that govern large numbers of individuals like the government and healthcare.
  28. what is authentication
    • Authentication is the process of proving one’s identity when logging into an online account. All users registered to an online account or email client have unique usernames (which can be public) and passwords (secret). Using this information, they can log into their accounts. This authentication protocol ensures that the person accessing the account is the same to whom it belongs. Extra authentication steps include code sharing via SMS or email, fingerprint impression, face recognition, and so on.
  29. what is public cloud
    • Public Cloud provides computing resources to everyone for purchase or free. It features multiple infrastructures and computing services that lots of organizations share via public internet. Government organizations, universities, and businesses own and operate public clouds.
      Examples of public clouds include Sun Cloud and Microsoft Azure. These platforms provide resources for free or as per your subscription basis. The providers use data centers that they have partitioned into some virtual machines that we can rent.
  30. what is cloud native
    • Cloud native is the process of building, operating, and managing cloud computing applications. It takes advantage of the flexibility, scalability, and resilience of cloud computing.
    • Applications are traditionally monolithic. It means that they have single block structures with all the functionalities.
    • Meanwhile, cloud native applications break these functionalities into microservices. Because these microservices work independently, cloud native applications are agile. Not to mention, they run using minimal computing resources.
    • The cloud native approach offers several business benefits, including better efficiency and lower costs.
  31. what is containerization
    • Containerization runs an application by combining codes with the necessary files and libraries. It generates a lightweight executable container with a shared operating system that can work on all applications.
    • A more efficient alternative to virtualization, containerization breaks down an operating system into chunks. Aside from its high efficiency, it also minimizes operating costs.
    • When developers use traditional methods, code development is more prone to errors. Containerization solves this problem by bundling codes with configuration files. It improves the speed and security of application deployment.
  32. what is churn rate
    • The churn rate (or customer attrition rate) refers to how many people stop doing business with a company or cancel their subscriptions over a certain period. Businesses with recurring revenue models consider the churn rate as a very important metric for customer retention. As an example, an online store sells products to 10,000 customers in January. However, 300 of the customers return their purchased products for a refund. The churn rate for that month is 3%.
  33. what is hybrid cloud
    • Hybrid Cloud storage is a data storage infrastructure that makes use of both on-premises storage resources and public cloud storage providers. This infrastructure is a double storage storing system. It is a supplemental solution to internal storage resources providing flexibility and scalability that traditional storage lack. Hybrid Cloud storage has ideal benefits such as quick access, frequent caching, space-saving, and cost reduction. A couple of drawbacks of Hybrid Cloud storage include a lack of security and an accumulation of wasted resources.
  34. what is private cloud
    • A private cloud, in contrast to a public one, is only accessible to you. You can use a private cloud service such as Microsoft Azure, Google Drive, or Mega to store and back up your files. These files will be private to you only unless you decide to share them with someone else online. No one else will have any access to your private cloud except for what you’ve allowed. This lets users save up their ROM space and backup files online.
  35. what is dependency
    • Most software is dependent on either internal or external programs or components to function properly. For example, an application may use certain libraries to query a database. In this scenario, the software application depends on these libraries.
    • Suppose one of the libraries stops functioning or isn’t functioning properly. In this scenario, your software app won’t make queries to the database and may not function properly. External dependency is from a third party, while internal is within the software itself.
  36. what is security
    • Security is a form of protection, resilience, and prevention against potential harm to an individual, application, process, or group. This harm is commonly from others but may also come from oneself. The establishment of security is what restrains them from performing an act that the beneficiary or referent believes to be harmful. Security may either be physical or virtual and can be found almost anywhere. They range from the securities in our devices like cyber-blocking applications and passwords, to trained personnel and uniformed officers.
  37. what is load balancing
    • Load balancing is a concept in computing that describes the process of distributing tasks to new resources. The purpose of this process is to improve the efficiency of the overall processing procedure. Load balancing helps evenly distribute the tasks and functions across the system. This helps optimize the system’s response time and prevents leaving other functions idle while others are overloading. Load balancing improves efficiency by identifying the size of tasks, revealing the dependencies, and segregating them according to function.
  38. what is Iteration
    • Iteration is when an application code repeats a sequence of actions to generate the same response. For instance, fitness training apps will tell you to train a certain way after repeated intervals. Another classic example of iteration is the “Splat a Rat” arcade game. Here, whenever a rat pops out of a hole, you smack it, which then causes a rat to pop out again from another hole (making increases score). Iterative apps use repetition to improve certain features over time through reviews and testing.
  39. what is output
    • Everything that we do has results; in fact, the information sent to our electronic devices is output. Output can be available in different forms; for example, it can be hard copy, textual, visual, or audio.
    • The major difference between output and input devices is that the previous receives data while the latter sends data. Therefore, anything seen on your screen, for instance, words, is an output of what you are typing. Plus, without any form of output, we can’t communicate with our computers.
  40. what is microservices architecture
    • Microservices architecture is a cloud-native approach. It involves a single application with smaller deployable services or components. As a result, it creates large and complex applications quickly and efficiently.
    • Instead of creating a monolithic system, microservices architecture is modular. Each service runs independently with a different programming language.
    • Aside from being easy to deploy and understand, microservices architecture is also reusable, so businesses can share small services. In addition, it offers faster defect isolation. Lastly, it minimizes risks from change.
  41. what is platform
    • Platform refers to the basic foundation for hardware and software development. It is the service or application host. Platforms have two main components — computer and operating system.
    • An example of a platform is a MacBook running on Mac OS X or a laptop using Windows.
    • The software can be platform-specific. Meaning, the application runs on a single program, such as Mac or Windows.
    • Meanwhile, a cross-platform means that a program is flexible. It can run on different systems, such as both Windows and Mac.
  42. what is data migration
    • Data migration refers to moving your whole database, or part of it, from one storage medium to another. A simple analogy here would be if you were shifting your contact details from your old phone diaries to a newer one. However, in the IT world, it is not so tedious. This is because you have tools like Dextrus, Informix, Rsync, and Azure DocumentDB to help you migrate data seamlessly. If you have a cloud backup of your data, things will be even simpler.
  43. what is revenue recognition
    • As a business, earning cash is quite exciting, but when do you recognize revenue? Well, revenue recognition is a crucial principle that declares that every firm must recognize revenues as they earn them. It also stipulates that you can recognize revenue after a crucial event occurs; for example, when you deliver the product or service to the client.
    • You can recognize the revenue after transferring the rewards and risks of ownership to the buyer. This means that you’ll have collected the payments.
  44. what is synchronization
    • Synchronization is the coordination of devices and processes to produce identical outcomes. Without synchronization, the outcomes are undesirable and unpredictable.
    • There are two types of synchronization. The first is data synchronization, which creates multiple copies of data to ensure coherence and integrity. Dropbox is a good example, which synchronizes file changes across multiple devices.
    • The second type is process synchronization. It executes multiple processes or threads simultaneously to reach an agreement and act on it. Examples include semaphores and locks.
  45. what is authorization
    • Authorization allows a user to have access to a resource on a server. In this process, a server decides whether the user can have permission to a file or access to a resource. Authorization features a security mechanism that determines a user’s or a client’s privileges or access levels to system resources. Companies offer access to department-specific records and private information, such as financial data, by granting authorization. AWS, pCloud, and Icedrive are examples of cloud computing platforms that offer authorization security.
  46. what is leads
    • Leads comprise the main source of an online business. Anything that assists a company in generating more leads is a worthwhile choice. Common leads generation platforms include Hubspot and Zapier. Grabbing a consumer’s attention for a product with the aim of converting that interest into a sale is what lead generation is all about. Business-to-business (B2B) and business-to-consumer (B2C) are two classes of commercial leads. B2B sales leads are transactions between businesses or organizations, while B2C sales leads are personal transactions.
  47. what is enterprise application
    • Enterprise applications consist of a system that helps organizations grow by increasing efficiency and productivity. Customer support and relationship management (CRM), enterprise resource planning (ERP), project management tools, supply chain management (SCM), and human resources management (HRM) systems are examples of enterprise application systems. Enterprise application software also includes computer systems that manage all aspects of an organization’s operations. They make collaborative workflows possible and ease the burden of large projects. Enterprise applications are a collection of applications that a company or organization uses to do its work.
  48. what is application
    • An application consists of a collection of computer software packages that execute a unique function for the final user. In some cases, an application can perform a function for another application. Applications that perform a specific function include web browsers, games, and e-mail programs. Each application has a function that helps end users with various tasks. This can have something to do with productivity, communication, or creativity. Word processing software, graphics software, spreadsheet software, and presentation software are examples of common application software.
  49. what is container
    • A container is a type of software package popular in modern software development. It extends a reliable way to package and distribute software, helping teams streamline their development and deployment processes.
    • Containers enable applications to run consistently across various computing environments. It includes all the necessary code, dependencies, and settings for applications to function properly.
    • You can easily employ containers to deploy and scale up or down as necessary. Examples of containers are Kubernetes, Azure Container Instances (ACI), and Amazon Elastic Container Service (ECS).
  50. what is server virtualization
    • Server virtualization is a vital factor of modern IT infrastructure. It is a process of creating multiple virtual servers from a sole physical server. A good example of server virtualization is VPS Server Hosting.
    • With server virtualization, businesses can optimize their IT resources by running multiple operating systems and applications on a single server. This curtails the cost of hardware and energy consumption and boosts IT efficiency.
    • Virtualization transmits better scalability and flexibility. It can also augment disaster recovery capabilities and deduct downtime.
  51. what is free trial
    • Free trial is a marketing strategy allowing customers to use a product or service for a limited period without paying money. The benefit of a free trial is the procurement of an opportunity to test the product before purchasing it.
    • During a free trial, customers can explore and evaluate the product’s features to discern if it meets their needs.
    • The most common examples of a free trial landing page are YouTube Premium, LinkedIn, BigCommerce, and GoToMeeting.
  52. what is cloud foundry
    • A cloud-native platform, Cloud Foundry simplifies the process of deploying, managing and scaling applications. It permits developers to focus on writing codes instead of managing infrastructure.
    • With cloud foundry, developers can carve applications in any programming language and deploy them to a cloud or on-premises environment. For instance, you can deploy them on Google Cloud, Azure, and AWS.
    • The platform offers a consistent, secure, and scalable environment for applications, making it easy to scale up or down on demand.
  53. what is cloud bursting
    • Cloud bursting involves using computing resources to prevent service interruptions when on-premise architecture reaches peak capacity. It is necessary when there is a high demand and can be manually or automatically requested. Companies must burst the extra load to third-party cloud services when their systems cannot handle the rush. Infrastructure as a service is the technology responsible for cloud bursting. Also, cloud bursting offers cost savings since companies only pay for the additional resources. Additionally, it provides flexibility for organizations.
  54. what is cloud migration
    • Cloud migration involves moving the digital assets, databases, services, applications, and IT resources of a company to the cloud. It can be a full or partial move. Cloud migration is just like moving physical goods from one location to another, but in this case, it involves data. Also, this move is often from legacy or on-premise architecture to the cloud. Cloud migration may also include moving from cloud to cloud. It is often for scalability, flexibility, and cost reduction.
  55. what is software stack
    • A software stack consists of a set of components working together to execute an application. These components power backend processes, while others enable user interface and perform calculations. Also, examples of components include architectural layers, operating systems, function calls, runtime environments, protocols, and databases. Each component is stacked in a hierarchy, and low-level components interact with the hardware. High-level components perform specific services and tasks for the user. Additionally, components interact with the application through complex instructions that travel across the stack.
  56. what is cloud application
    • Cloud-based application software allows individuals to access its services anywhere with an internet connection. Hosted on remote servers and accessed through the Internet, cloud applications run entirely in the cloud. They are accessible from any device with an internet connection. From communication tools like email to simple file sharing, as well as complex customer relationship management (CRM) systems, there are many forms of cloud applications. Examples of cloud applications used by businesses and individuals include Google Docs, Microsoft 365, Zoom, and Salesforce.
  57. what is extensibility
    • Extensibility is the characteristic of software that allows the addition of new functionalities. These additions should not require rewriting codes or changing the architecture.
    • Further, incorporating extensibility in software development allows a culture of continuous improvement. It provides more opportunities for scalability.
    • An example of extensibility is in the user interface. Developers must be able to change elements of the interface without compromising its core functions. This way, companies can tailor experiences to the needs of the users while saving resources.
  58. what is network virtualization
    • Network visualization is a process of visually presenting networks of interconnected entities. These entities are analyzed on a graph as links and nodes. The links in network visualization represent the connections between the nodes which are the data points of the visualization. Since everything is densely connected, network visualization is applicable to every valuable relationship. Creating a visualization produces a simpler version of the context and connections while deepening the understanding of the idea. These processes are fast and intuitive.
  59. what is cloud backup
    • A cloud backup is when you have a copy of your data encrypted online in your cloud storage account. You can keep all your precious data (client lists, business invoices, tax details, etc.) on hard drives and USBs. But this is risky as your storage device may get damaged or lost. Cloud backup services like IDrive Online Backup, Druva Data Resiliency Cloud, and Acronis Cyber Backup will give you safe and secure access to your backup data even if you lose your hardware.
  60. what is storage virtualization
    • Storage Virtualization is a process that presents a logical view of physical storage resources to the host computer system. This computer science process treats all kinds of storage media as a single pool of storage. There are two kinds of storage virtualization that are applicable to storage systems, block, and file virtualization. Block virtualization separates logical storage from physical storage, allowing independent access. File virtualization on the other hand addresses challenges and eliminates dependencies between the data of the file and its storage location.
  61. what is multi-cloud
    • It includes an organization using cloud services from several vendors. Multi-cloud can be something as simple as using SaaS (software-as-a-service) from several vendors like Workday and Salesforce. Or an organization using enterprise applications from a wide range of vendors such as IBM Cloud and Google Cloud Platform.
    • With multi-cloud, organizations are enjoying benefits from different sources. In the Information Technology industry, it refers to a strategy employing the usage of lots of public cloud services. And it helps lower financial risks.
  62. what is on-premise
    • On-premise software, as the name suggests, is the kind that you must install on the hardware present on business premises. This contrasts with cloud software which is remote but still accessible on the hardware of subscribers. For instance, you don’t have to install Google Drive or Facebook to be able to use it on your system. In contrast, you must install Microsoft Office, Adobe Illustrator, Norton Antivirus, or CorelDRAW on the system you plan to use it on.
  63. what is byoc
    • Basically, byoc is a popular trend among employers, which includes them letting employees use their cloud service. This abbreviation means Bring-Your-Own-Cloud to work with the best examples, including Dropbox, Amazon, and Google.
    • Some unique byoc services like Dropbox provide a cost-effective method of sharing huge files. In fact, it’s cheaper than rolling out a shared storage system in your organization. But to prevent any problem, you should have policies that clearly define personal cloud services and who to inform when using them.
  64. what is amazon web services (aws)
    • Amazon Web Services (AWS) provides on-demand cloud computing services for big or small businesses. The platform is provided by Amazon.com and offers infrastructure and platform services for businesses. Amazon Web Services (AWS) include on-demand delivery of computing power, database storage, content delivery, and more. These functionalities help businesses to scale operations in a fast, cheap, and efficient way. Use cases for AWS include big data analytics, mobile app development and deployment, web hosting, and the building of machine learning models.
  65. what is desktop virtualization
    • Desktop virtualization is when a business links its computers to a server so that they display a virtual display. Imagine never having to set up your desktops individually and optimizing them for each new hire. This is essentially what desktop virtualization is. You can start with a couple of clicks and taps. Software like Parallels, VMWare, VirtualBox, Citrix Daas, and Xen Project let you virtualize desktops in minutes. This way, businesses don’t have to set up computers every time they hire someone.
  66. what is vm snapshot
    • A VM snapshot lets you record the state of a virtual machine’s disk file (VMDK) so that you can restore it to that state later on. Let’s say that your system runs into an unexpected error, and you need to restore it to a state before the error. The VM snapshot allows you to roll back the damage. Software like Vemu BDR Suite, Veeam Backup & Replication, and VM Backup let you take VM snapshots in a pinch.
  67. what is cohorts
    • In a business setting, cohorts are groups of customers with similar demographic and psychographic profiles. A business targets them for marketing purposes because they believe they’re most likely to buy from them. So, for example, customers who’ve made high-value purchases will make up the purchase-based cohorts. Another example is loyalty-cohorts, which are customers who’ve signed up for a business’s loyalty program. Through these cohorts, a business can better understand like-minded potential customers and market to them accordingly.
  68. what is personal cloud
    • A personal cloud is an intangible collection of digital content accessible through devices. These allow its users to store, segregate, synchronize, and share data, photos, videos, files, and other forms of content. The processes occur from platform to platform and from one screen location to another. Personal clouds have four primary types, online cloud, NAS device cloud, server device cloud, and homemade clouds. Its main purpose is to optimize the user’s storage by resizing the content without damaging its quality.
  69. what is application virtualization
    • When working for some top companies with branches all over the country, you may need to use software that’s not on your machine. Therefore, the IT admin can install app visualization software like Citrix and V2 Cloud. These apps can help deliver certain remote apps to your desktop.
      Your experience working with the visualized apps will be the same as the ones you have installed on your PC. Basically, you can use the applications as if you have them locally installed on your desktop.
  70. what is multi-tenancy
    • Multi-tenancy is a structure that allows a single instance of software to run on a server. This instance of software serves multiple tenants. This makes multi-tenancy not private or personal but shared with a group of users who have access to privileges from the software instance. The multi-tenancy software provides tenants of data, user management, configuration, and individual functional and non-functional properties. This software benefits its users greatly through release management, reduction of costs, complexity, and data aggregation or mining.
  71. what is cloud sourcing
    • Cloud sourcing lets businesses connect their computing power, storage, and other virtual computing features with someone remotely. This is kind of like outsourcing — the business only pays for cloud-sourcing services when they need them. IT companies use cloud sourcing to cut costs for cloud data management and whatnot. You can use software like Kamatera, Appinventiv, InData Labs, Serverspace, and Innowise Group to outsource your IT asset responsibilities. This way, you’ll only have to pay for things like database maintenance when you need such services.
  72. what is host machine
    • Every network has a machine that grants users access to certain information via a certain network. This hardware can easily permit you access to a network through a network address, specialized software, and user interface. A great example can be personal electronic devices, computers, and thin clients.
      In any network architecture, even the client’s station can serve as a host machine. After all, it’s a unique source of data to the network, in contrast to a switch or router that directs traffic.
  73. what is deferred revenue
    • Deferred revenue includes any money obtained in advance from clients for products or services that they will get in the future. Annual subscription payments made at the start of the year or advanced rent payments are popular uses of deferred revenue. Deferred revenue pertains to the advance payments from an organization for services or products that they’re going to deliver later. Unearned or deferred revenue is prevalent among software and insurance companies that demand forthright payments in return for service periods.
  74. what is cloudware
    • Cloudware is a kind of software that runs over the cloud, allowing users to access it online, without having to install it on their system. All you need is an internet connection and a subscription, and you’re golden. In many cases, cloudware follows the freemium model which means that you can start using a free version of the software and then switch to a paid premium version. Examples of cloudware include Google Drive, Dropbox, Mega, and Google Maps, to name a few.
  75. what is app integration
    • App integration is the practice of connecting two or more apps to automate tasks and transfer data between them. Through app integration, a business can streamline its operations by eliminating manual data entry and, thus, reducing errors. For example, a business might integrate its task board software with its invoicing software. This allows time spent on task data to automatically flow into the invoicing system, reducing the need for manual data entry. Therefore, the per-hour type of invoicing is accurate.
  76. what is thick provision lazy zeroed
    • Thick provision lazy zeroed is a type of virtual disk provisioning. When a virtual machine is created, a virtual disk also gets created to store the operating system. With thick provisioning, there’s upfront disk space allocation. However, the “lazy zeroed” means the space on the disk will get zeroed when data is written. So, by using thick provision lazy zeroed, the virtual computer runs faster because it doesn’t have to spend time creating the disk or filling it with zeros right away.
  77. what is cloud marketplace
    • A cloud marketplace is an online store for cloud services. It’s where customers can find software applications that complement the services of the cloud provider.
    • Cloud marketplaces allow direct purchases. It eliminates the need to contact sales, which can also reduce procurement costs. This streamlines the process of purchasing cloud services. It’s also an opportunity to get a custom solution that aligns with your business needs.
      Popular cloud marketplaces include AWS Marketplace, Oracle Marketplace, and Azure Marketplace.
  78. what is software as a service (saas)
    • Software as a Service (SaaS) is a cloud-based software licensing and delivery model. Users access the software applications over the internet on a subscription basis. A third-party provider hosts the software, and customers access it through the internet or an application. With SaaS, customers don’t have to install any software on their devices. Also, users can choose the right subscription for their needs. Two examples of SaaS are customer relationship management systems and cloud-based file hosting and sharing services.
  79. what is backend database
    • Generally, most software has backend and frontend interfaces, with the latter referring to the user interface. The backend refers to the database, application, and servers working behind the scene delivering data. Some enterprise-level databases like Microsoft SQL and Teradata can be quite beneficial.
      Other popular examples like PostgreSQL, NoSQL, and MySQL help deliver information to users. All the user has to do is enter their request via the interface. The server will verify the request before pulling the information from the database.
  80. what is user space
    • User space is a part of the system memory that runs applications. It’s a portion of the computer operating system’s virtual memory. This is where the computer stores user applications, programs, and works.
      The executing code limits access to a user space. Any malfunction stays within the system the user space operates.
    • The age and quality of a computer affect its user space. New systems with higher-end specifications often have larger user spaces. This increase in space, however, does not equate to better performance.
  81. what is vendor lock-in
    • Vendor lock-in refers to a customer’s dependency on a particular supplier because of contractual or technical agreements. The customer can’t easily switch to another supplier without incurring significant costs or disruptions. This is when you buy a product whose add-ons are only available from one provider. For example, you buy a printer from a certain manufacturer. However, you can only use their ink cartridges because others aren’t compatible. This, thus “locks you in” to that vendor.
  82. what is vm cluster
    • A VM Cluster or a virtual machine cluster is a computing technique that ensures the high availability of servers and the network itself. These techniques are common in virtual machines that are part of various services. It allows them to interconnect through a virtual network and process fast deployments and effective schedules. The virtual machine cluster uses virtual machines as nodes and enhances server utilization by installing multiple functionalities on it. It also protects the physical machine from possible software and hardware failures in the future.
  83. what is freemium model
    • Freemium products are free, to begin with, but will cost you when you wish to use premium features. This lets you access the basic software without any financial commitment, and you can continue to do so indefinitely. But as your needs or the needs of your enterprise expand, you may have to switch to the paid tiers. Sometimes, you even get free trials for the paid versions. Software like OfficeDrop, Dropbox, Amazon Web Services, and Echosign follow this model.
  84. what is subscription mode
    • Organizations use a wide range of things to improve buyer retention while encouraging client success. In fact, one of the most popular options that have worked wonders for various firms is the Subscription business model.
    • Some of the best examples are Monthly subscription boxes, streaming services, and software/magazine subscriptions. These subscriptions can help clients access your services. With this recurring model, you can pay an annual, monthly, or weekly fee. Plus, clients can easily renew their subscriptions after a certain duration.
  85. what is b2b saas metrics
    • B2B SaaS marketing metrics are a group of key performance indicators (KPIs). Businesses use them to record, monitor, and measure the performance and success of a campaign. It also helps measure a business’ growth. With the help of marketing metrics, a business can identify areas for improvement. These include which channels are working best and which are not. You can also see how consumers interact with your content. It also determines if the marketing campaigns used are profitable or not.
  86. what is backend-as-a-service (baas)
    • This is a type of cloud service model. BAAS allows developers to outsource all backend aspects of a website, so they can focus on the frontend aspects. It provides access to bundled frameworks done by customized SDKs and APIs. You can use pre-written software offered by vendors for different services on the servers. These include database management, and user validation. It also includes cloud storage, hosting, as well as remote updating. BAAS is time-consuming can spare you from expensive backend tasks over time.
  87. what is cloud management platform (cmp)
    • Cloud Management Platform or CMP refers to a tool that companies use to control and organize cloud infrastructures. It helps them enhance their security, reduce costs, and be in charge of cloud environments. Each CMP type has unique features that fit the needs of every industry. CMP lets clients in placing, managing, and tracking orders using its self-service feature. It also allows IT teams to manage resources such as virtual machines, storage, and networks. Some examples are Raksmart, Scalr, and OpenStack.
  88. what is cloud service provider (csp)
    • A Cloud Service Provider or CSP refers to a third-party company that provides cloud-based services. These services involve computation, platform, storage, and application. CSPs takes care of the management and computing, while you build strong customer relationships. They offer a range of services including IaaS, Paas, and Saas. With CSPs, users benefit from data integration and faster service recovery. Plus, they can save money when they opt for pay-as-you-go cloud services. Three of the biggest CSPs are Google Cloud, Amazon Web Services, and Microsoft Azure.
  89. what is cloud spanning
    • We need to make a storage upgrade for storing huge amounts of information. So when we move data, the last thing we want to happen is losing some of them. Cloud Spanning is what companies or organizations use to avoid data loss. It involves the use of multiple data centers to recover content. These data centers can either be public, private, or both. It might be pricey to invest on Cloud Spanning, but it is beneficial for companies when it comes to back up data.
  90. what is migration costs
    • Migration costs are expenses for moving data from one system, platform, or software to another. Costs may be charges that include transfer, software licenses, and customization. Hiring and training of new employees are also part of the expenses. The costs of migration depend on how complex the process is. It is based on the size of the data, and the level of customization. Therefore, it’s important to carefully plan and assess migration costs prior to entering into an agreement with a service provider.
  91. what is runway
    • Runway is an online editing software that enables video editing with the help of machine learning tools and without coding at all. This dynamic video and image editor simplifies the process with composting, VFX, color correction, generation, and masks. Since Runway works with a cloud, it can flawlessly work on any Windows PC that runs an internet browser. Examples of these are Google Chrome, Microsoft Edge, Mozilla Firefox, and others. It works well with your browser, and there is no need for downloads.
  92. what is omnichannel approach
    • An omnichannel approach is combining channels to create a seamless customer experience. This marketing and sales strategy aims to make the customer’s shopping experience as simple as possible. So, how does this work? In the modern world, we have the option to purchase a product wherever we want. It may be an online purchase or in a store. We then have the option to sign up for email subscriptions for us to receive notifications for updates from a certain store.
  93. what is cloud portability
    • Cloud portability is the ability to transfer data and apps that allows cloud computing. Its main goal is to maximise flexibility and ease the process of migration. Also, it enables migration of cloud services between providers or between private and public clouds. This applies to all service models in cloud computing such as PaaS, IaaS, hybrid, and Saas. Everything depends on the system’s interoperability levels that a vendor or cloud service offers. Examples of initiatives that promote cloud solutions are CloudStack or OpenStack.
  94. what is active users
    • An active user is a person who regularly engages in a platform or application over a period of time. Examples of these sites are gaming apps, social media, and online forums. It involves activities such as logging in, posting, commenting, sharing, and sending messages. Active users are among the key metrics that measure the health of a business. Their behaviors and preferences are crucial in improving products and services. This is one point of evaluation businesses use to check on their progress.
  95. what is application programming interface
    • API is a set of defined rules and tools that help programs in exchanging data safely. This allows companies to grant others secure access to their data and improve collaboration. It simplifies the integration of new applications onto an existing system or software. By using an API, developers do not need to start from scratch. The resulting ease of use encourages innovation. Examples of its uses are universal logins, smart devices that can tweet, online maps, and e-commerce.
  96. what is vm replication
    • Virtual Machine Replication is a method of copying versions or creating copies of virtual machines (VM). Information Technology (IT) professionals use VM replicas to restore the VM in the event of data loss or corruption. Although similar in some ways, the purpose of a VM replica is different from that of a VM backup. The VM’ replica’s purpose is for short-term or near-immediate use. On the other hand, a VM backup’s main objective is for long-term data storage.
  97. what is nps (net promoter score)
    • Net Promoter Score (NPS) measures how willing a customer is to recommend a product or service to others. Companies use it to help manage customer relationships. NPS helps measure customer experience, brand loyalty, and potential growth. Understanding why low scores occur is just as important as seeing high scores. Promoters are people who are likely to recommend the company’s product or service to other people. Detractors are people who will probably not. To calculate: % of promoters less % of detractors = NPS.
  98. what is virtual hard disk (vhd)
    • Virtual Hard Disk (VHD) refers to the file format used in virtual machines. This single-file format has its own processes and stored in a hard disk drive. It works the same way as a physical hard drive such as disk partitions, files and folders. VHD has a two TB limit built-in storage and stores the full contents of a physical hard drive. Inside the virtual machine, VHD works as the HDD; it creates files and folders, installs, and runs applications.
  99. what is virtual hard disk (vhdx)
    • Virtual Hard Disk (VHDX) supports virtual machine processes with an increased storage of 64 TB. Similar to VHD, VHDX works just like a physical hard disk drive in a virtual machine. This is the new version of VHD for Windows server 2012. VHDX includes several improved features like protection against data corruption and improved alignment. It logs updates to its metadata structure that protects against data corruption during power interruptions. The improved alignment allows it to work well on large disk sectors.
  100. what is virtual machine (guest vm)
    • A virtual machine (VM) consists of almost all that a computer can do in a virtual sense. It has an independent operating system (OS), which allows it to perform and run applications. A guest VM is a VM within a VM. It also has its own OS called guest OS. The guest OS refers to an OS installed on top of a VM or in a partitioned disk. It runs independently and separate from the host OS.
  101. what is virtual machine monitor (vmm)
    • VMM or Virtual Machine Monitor refers to the interface between a hardware and guest (OS). It is a software that creates and runs the virtual machines. A VMM, also known as Hypervisor works as a host to several VMs. It manages its operation through a centralized interface. It’s like a computer OS that works as the main control that supports application executions. VMM supports network gateways which will allow multiple VMs to use their own isolated networks and IPs.
  102. what is virtual networks (vlan)
    • VLAN or Virtual Local Area Network connects multiple devices to a main network through a router. The main network serves as a main server to different groups of devices, and there is no need to set it up again when moving to another device. Connecting to VLAN provides ease of communication from a user to another. Administrators can freely give users levels of access to the data stored in the main server. Thus, it is able to separate data from private to public.
  103. what is visitor-to-signup rate
    • Visitor-to-signup rate refers to the conversion rate of a person from a visitor to signing up. It measures the number of people that signed up out of all who visited a site. Signing up could be anything between registering, lead conversion, purchase, or download. Often, a rate conversion of 1% to 2% is perfectly normal and may increase up to 5%. An example is the rate of people who register on a website out of all those who actually went to the site.
  104. what is vm checkpoint
    • A VM checkpoint captures the state, application, data, and configuration in a running virtual machine. It creates a file to save the captured state that it can use later on for recovery. Checkpoints can help users manage the risk in case problems occur while using the virtual machine. Also, a user can create a checkpoint before making major changes in a running virtual machine. VM checkpoints serve as backups when running tests or using the virtual machine.
  105. what is vm single file restore
    • What is VM Single File Restore
      VM Single File Restore consists of single file backups and recovery. It is a tool that helps the user restore backups at the file level. To perform a file restore, the user must have access to the destination VM where the recovery will take place. At least there should be one restore point successfully created in order to restore from a backup. The server where the user saves the restored VM files must be in the backup system.
  106. what is vpc and vpn
    • VPC or Virtually Private Cloud provides secure and isolated cloud service to its user within a public cloud. Examples of VPC are Amazon VPC, and IBM Cloud VPC which allow users to connect to the public cloud for resources. To ensure a secure data transfer, the VPC user must connect through a VPN.
      VPN or Virtual Private Network provides an encrypted data network and anonymity to its users. Connecting VPC through a VPN makes data transfers invisible to the public.
  107. what is zero data (empty state)
    • Zero data (empty state) is a state in computing describing the absence of information in a system or data structure. An example of zero data includes when someone signs up for a new social networking site and doesn’t complete the details. Once this happens, the user’s profile page remains in its default form. Meaning, it is devoid of content such as posts, followers, and activity. Zero data may also occur in a new file having no data in it.
  108. what is committed monthly recurring revenue
    • What is committed monthly recurring revenue?
      CMRR is a business statistic that measures the total ongoing monthly income a company expects to get from its customers. For example, companies relying upon subscriptions utilize this kind of metric. Most of the companies that uses CMRR are those that provide software as a service (SaaS). It helps determine how much money the business can expect to make each month. They evaluate it based on existing contracts with term-based subscriptions. This includes new purchases, upgrades and deals, as well as renewals.
  109. what is thin provision
    • Thin provisioning is a storage management method that enables the best use of storage resources. It means giving out storage space as needed, instead of giving out the whole amount of storage space all at once. For example, a device may have 10 GB of reserved storage space. However, there are times when the device may need additional storage. So, it can only get the exact amount it needs from the pool of previously unreserved storage.
  110. what is vertical cloud
    • A vertical cloud is a cloud computing system with the main aim to meet the needs of a single business or vertical market. As an example, business that may use this service is a financial company. This helps in handling financial data and create financial processes easier. It offers specific tools, services, and networks by means of its cloud services. As a rule, it provides technology to vertical organizations to help them improve their processes and reach their goals.
  111. what is net revenue churn
    • What is net revenue churn?
      Net revenue churn is a financial term that analyzes the change in revenue earned by a company’s current customer base. However, this analysis takes into account both cancellations and upgrades. It also considers any downgrades that may have occurred. So, it accounts for all consumers who cancel, don’t renew their subscriptions, and customers who upgrade. This means that the income gained from 12 upgraded accounts makes up for the revenue lost from 5 churned accounts.
  112. what is virtual machine (vm)
    • A virtual machine (VM) is a digital version of a physical computer. This system performs the functionalities of another computer system. It has its own operating system and needs system maintenance and monitoring. A software company can try its product on different operating systems using virtualization software. It can build two VMs on a single physical machine. Thus, it saves companies on hardware costs, and it leaves a smaller footprint. In addition, it has enhanced IT efficiency and high portability among others.
  113. what is integrated development environment
    • An IDE is a program that offers a full setup when creating software. It gives you tools like a debugger, a source code editor, and tools for automating the building process. Thus, with the help of an IDE, software engineers can write, test, and release their codes more quickly. For example, Microsoft’s Visual Studio is a good example of an IDE. It supports a wide variety of programming languages in addition to C++ and C#.
  114. what is user experience (ux)
    • User Experience (UX) puts emphasis on the experience a product provides to its users. It covers a wide range of aspects that make up each user’s observations. UX applies to both products and services. It includes the use of service, product, or system, as well as a person’s perceptions of utility. The ease brought by a product’s user interface (UI) and after-sales service greatly affects the overall UX. UX does not only focus on the UI, but the overall experience itself.
  115. what is thick provision eager zeroed
    • The thick provision eager zeroed is a type of virtual disc provisioning with VMware. It creates a virtual disc with a predetermined maximum capacity and zeroes off all disc space upon creation. Let’s imagine you want to establish a 500 GB VMware virtual system. VMware will allot 500 GB of space for the virtual disc and zero out all blocks if you pick this provisioning. This ensures that the virtual disc performs consistently, but it uses all the disc capacity upfront.
  116. what is federated database
    • A federated database is a popular database management system. This process makes it easier for an organization to make more than one database. This makes users from different databases to get to the data and change it. For example, for some reasons, a big store may have more than one database. Using this this, you can combine these databases into a single logical view of the whole dataset. With it, users can get information from other databases all in one place.
  117. what is user interface (ui)
    • User Interface (UI) refers to the point where users connect with technology. It is the overall design of software, applications, and other digital devices. Some examples of UI are mouse, laptop, and touch screens. These are points where the user uses technology.
      The UI focuses on the appearance and functions of its components. These components include navigation controls and other buttons that help users get through. These will determine the ease of usage of a certain program or software.
  118. what is virtual desktop infrastructure (vdi)
    • VDI is a technology that enables users to log into a virtual desktop environment from any internet-connected device. You can do this from the workplace, from home, or from any other location. Let’s say, you are working from home and want access to a file that is kept on your office computer. You may easily access the file by logging into the virtual desktop environment. Thus, you won’t have to move the file to another device or physically visit the workplace.
  119. what is product champion
    • TA product champion is someone who looks after the value of a product. That person focuses on creating the product and its development. He has to have passion towards the product. A product champion takes care of the product, monitors its progress and supports its progress continuously. This person can also have diverse roles like developing a marketing plan. Not only that. A product champion should help and assist in the innovation development of a new product.
  120. what is guest machine
    • A guest machine refers to a software program that runs its own application. It also has its own operating system. Likewise, it functions separately from other virtual machines. The guest machine software is able to establish a different processing systems. A guest machine can also act as a virtual server. It can enable IT teams to improve on productivity. This will make them maintain only the host machine. This way, it can help lessen expenses.
  121. what is vm backup
    • VM Backup is a data solution that performs the function of a traditional backup solution. Its main role is to perform backup of all files. VM backup works to protect the virtual machine and perform in many ways. It works through a backup agent or by integration from the hypervisor. This software solution helps users in its data accessibility. In a way, it keeps the business industry running and stores data even on an event that may damage their data.
  122. what is content delivery network (cdn)
    • Content Delivery is a kind of service that copies the website’s pages to a proxy server. This works on processing of content distribution on large scale projects. The main use of this is to deliver content securely. Large scale websites such as advertising and e-commerce use this kind of network. Using content delivery helps improve the speed of a page load, black spammers, and secure user applications. This kind of service is crucial to special events such as live web broadcasts and the like.
  123. what is platform as a service (paas)
    • Platform As A Service (PaaS) is a cloud computing model that gives customers complete applications. PaaS hosts data center servers, networks and databases for its users. With this, they will have the option to pay fixed fees or choose pay-as-you-go on their purchases. They will take advantage of the web application. Services such as enhanced applications of workflow makes it a major platform. PaaS helps users to increase flexibility by providing a shared software environment. Overall, it manages to reduce costs.
  124. what is value gap
    • Value Gap is the measure of how much a company delivers to its customers. This is in comparison to the cost of the value. Delivering more value and limiting payment charges is crucial. Oftentimes, users experience a low percentage rate with their product usage. However, most of them don’t experience the value. This causes them to abandon the product if they can’t find its value. Thus, it is vital for companies to implement an effective organization for new users and find its value.
  125. what is application programming interface
    • The document or system used to track all project-related communications. The project manager typically organizes and tracks what, who, when, and where relevant communication happened in addition to any outcomes as a result.
    • The document or system used to track all project-related communications. The project manager typically organizes and tracks what, who, when, and where relevant communication happened in addition to any outcomes as a result.
  126. what is non-product engagements
    • Non-product engagement refers to the different activities a brand uses to reach its customers. Activities may involve different channels such as chat, phone, and email. It may also involve interactions on Facebook and Twitter, as well as on Instagram. These come in different forms such as website interaction, sponsorship, and events. Non-product engagement is a good strategy to reach the target audience and promote brand awareness. This doesn’t intend to sell products. It is effective in building trust with the audience even before a sale happens.
  127. what is normalized contracts
    • It is a type of business model where customers pay a repeating price at regular intervals. You can use it for regular contracts and subscriptions. This is in exchange for access to a product or service. Profits for this often come from auto-renewals. It can represent the possible range of earnings you can get from the business. Normalization to contracts will make them similar with each other. By doing so, you will be able to compare them using the available performance metrics.
  128. what is on-demand self service
    • An on-demand self-service is a fast way of allowing consumers to use resources like network storage or server time without human interaction. This on-demand self-service app enables fast transactions. You can immediately start accessing and using cloud services upon signing up. Deploying virtual machines (VMs) or databases at a cloud service provider is easier and faster. This means there’s no more waiting for support staff to create manual requests. Many businesses are now taking advantage of its ease of usage.
  129. what is p2v (physical to virtual)
    • This is the process of migrating and converting a physical computer image to a virtual machine. It enables a physical machine to change into virtual mode using the same data, state, applications, and others. You can achieve this by means of migration and conversion software. The tools used will save the physical machine’s data as a virtual snapshot. This will reinstall the snapshot stored to the target storage space. An example for this is the merging of servers and virtualization.
  130. what is pay-per-use model
    • A pay-per-use is a payment model that charges customers based on their usage of products or services. This payment model is popular as it attracts customers with its flexibility and choice of services. So, the more a customer uses the product the more they will pay and so on. Customers will pay depending on the usage of the services allowed by the company. This makes it a preferred model for customers who only want to pay for services they want to use.
  131. what is pql-to-customer rate
    • It is the percentage in which a PQL successfully becomes an actual paying customer. This metric shows just how effective a company is at converting its qualified leads into actual sales. You can use it as a Key Performance Indicator (KPI) of the company’s sales. It can also assess the effectiveness of a company’s marketing channel. To compute, divide the number of PQL turned customers by the number of PQLs. Then, multiply it by 100 to get the rate.
  132. what is product engagements
    • Product engagement is the way your consumers interact with the products you offer. It determines the pattern of the customers’ behavior through the extent and occurrence of interaction. You can improve product engagement by having a safe space for the consumers to give their feedback. Customizing your approach towards them can build trust. You must have consistent customer care and support for inquiries at all times. Both of these can give you the right market data.
  133. what is product-led go-to-market strategy
    • It is an action plan that relies on products to be the drivers to gain, keep, and grow your market. This includes processes that are dependent on customer’s experience. It has two main benefits for businesses. First, it has fast growth due to free trials and better onboarding process. Second, it reduces Customer Acquisition Costs. Product-led businesses, such as Slack and Dropbox, allow you to try them out first prior signing up. Also, Shopify makes online selling easy for business owners.
  134. what is product-qualified lead (pql)
    • It is a means to qualify a potential customer who tried out a product using a free trial. Despite the demo’s limitations, this individual has first-hand experience of the product’s value. In every business, PQL definitions may differ. As you grow your business, its role must adapt and contribute to improving user experience. On Facebook, a user becomes a PQL once 7 friends have been successfully added. In Slack, when an account hits the limit of 2,000 messages, that’s a PQL.
  135. what is production checkpoint
    • Production checkpoint is a snapshot of a “point in time” that a virtual machine can use to retrieve data. Checkpoints are of great help when attempting to save data during a system failure. Production checkpoint operates the guest’s backup technology to generate the said process. The best time to use it is when the application is VSS-aware, read-only, or shut down. You can see its utility in Apache web servers which provide services to distant SQL servers.
  136. what is prospect (user) onboarding
    • Prospect (user) Onboarding is essential for product based businesses. This process makes your one time customer into a regular. User onboarding can produce longtime and loyal customers and has three major benefits. First, is the profit it can generate. Next, it can keep customers despite spending less. Then, you can turn them as your product advocates. Different businesses use strategies to improve user boarding. For example, ShippingEasy and MagHub both make use of in-app walkthroughs to guide their customers.
  137. what is renewal bookings
    • Renewal Bookings is a portion of bookings that points to existing contracts. This is a kind of booking calculated either at the time of the effective renewal date. It can also be for legally binding renewals such as evergreens. The renewal process allows for the growth and expansion of existing customers. This depends on the type of product they sell. The objective of renewal is to extend the contract for years. It is vital to discuss renewal terms on a clearer structure.
  138. what is saas retention rate
    • What Is SaaS Retention Rate?
      This is a metric that measures of the amount of customers retained over a set period. It would show the current, as well as future revenue. SaaS retention rate is critical to reducing churn rate. The higher the retention rates, the better which makes up for new customers, increased ROI, and high loyalty rate. A high retention rate shows how successful a company is in gaining new customers. Thus, focusing on the user base and looking to improve customer satisfaction is the key.
  139. what is service level agreement (sla)
    • An SLA is the service commitment between a business owner and the customer. This also includes standards on how you can measure the service. Failure to deliver it outside the bounds of the agreement may result in consequences if not remedied. For example, the SLA of a telecom company guarantees 99.99% network availability. If the company is not able to fulfill this, customers can avail of a discount, cash back, or credit. Both provider and customers have equal rights with an SLA.
  140. what is signup-to-customer rate
    • It is the percentage of customers who initially signed up for a free version of a product. These are those who became paying customers. This metric helps teams identify the success of certain key areas. It can show teams if the support that they give to free trial customers is enough to convert them to sales. This also determines if a team’s marketing strategy is good at generating quality sign ups. Knowing these things allow companies to improve on their strategy moving forward.
  141. what is signup-to-pql rate
    • It is the percentage in which customers who sign up for a free trial or free version of your product becomes a Product Qualified Lead. PQLs are those customers who were able to experience the true value of your product through the free trial. Moreover, PQLs should match the company’s ideal client profile. Also, they are the ones who show buying behaviors like using the app regularly or performing specific tasks. To get this, divide the total sign ups by the total PQLs.
  142. what is software development kit (sdk)
    • This is a bundle of information and tools that help developers create a program. The bundle may be for a certain programming language, platform, or application. Generally, SDKs consist of a debugger, compiler, and application programming interfaces (API). These are tools that a developer will most likely need to create new applications for a specific product. At times, these also include test projects to help developers. Some examples of this are the iPhone SDK, Windows 7 SDK, and MacOS SDK.
  143. what is standard checkpoint
    • Standard checkpoints capture the state of a virtual machine at a certain point. Doing a standard checkpoint saves the current state including the applications used. Standard checkpoints can allow users to go back to the previous state in a running virtual machine. These are useful when doing tests inside virtual machines and there is a need to recreate the previous state. For example, an error comes up while using a VM, you can recover the previous state before the error if you have checkpoints.
  144. what is unified customer profile data
    • The Unified Customer Profile (UCP) data refers to the customer’s profile and behavior. It helps companies gain a better understanding of their customers. Hence, allowing them to create better offers to customers. Data collected may include user interactions when making a purchase or browsing online. So, if you are browsing for an item, it tracks your actions from typing on a search bar to adding or removing it from the cart. Thus, it takes the user’s wants and needs into consideration.
  145. what is valued (golden) features
    • Valued or golden feature refers to the key feature of a product or service. This is the feature that creates a “wow” factor. Every product should have one golden feature. It highlights a product’s attribute, thus, capturing more attention from its target audience.
      Golden features can create great potential for products. It is often catchy, easy to describe, and attention-grabbing. This adds an exciting factor to products or services that the customers will look forward to.
  146. what is velocity metrics
    • The term Velocity metrics refers to a standard that provide useful information to help improve team and product management activities. It is a chart that shows the current progress of the team. This chart will show the amount of tasks assigned and completed.
      The chart will sum up results from the planning stage to completion of tasks. This information helps the management determine how well the team can complete their planned tasks. Also, it helps to create more efficient forecasts.
  147. what is open stack
    • Open Stack is a cloud computing platform that is deployed as an IaaS in public and private clouds. It follows a free and open standard operation making virtual servers and resources available to its users. The Open Stack software consists of multiple interrelated components. These control pools of processing, storage, and networking through a data center. It is manageable either through its web-based dashboard, command-line tools, or RESTful web services. Open Stack comprises tools called projects that handle the services.
  148. what is contextual engagement
    • Contextual engagement used to be called permission marketing in 1999. It is a strategy that companies use to create personalized and meaningful customer experience. So, while most customers explore various online sites or click through targeted ads, some receive word-of-mouth advices. However, none of these actions always result to a sale. This is due to differences in consumer behaviors. Add to that, some of them would even buy in physical stores. However, proper understanding of customer behavior, browsing activity, or search terms they use may yield better results.
  149. what is infrastructure – information technology (it)
    • IT infrastructure is the framework of all things necessary for an IT system. These resources can be computers, data centers, the internet, and a lot more. All of these make up the backbone of the IT system. It also includes storage systems such as hard drives and cloud platforms which allow companies to store large data. The framework stores, processes, and sends data in a safe mode. The IT Infrastructure is an important component in the Internet world. It helps systems run better.
  150. what is on-demand self service
    • An on-demand self-service is a fast way of allowing consumers to use resources like network storage or server time without human interaction. This on-demand self-service app enables fast transactions. You can immediately start accessing and using cloud services upon signing up. Deploying virtual machines (VMs) or databases at a cloud service provider is easier and faster. This means there’s no more waiting for support staff to create manual requests. Many businesses are now taking advantage of its ease of usage.
  151. what is product champion
    • A product champion is someone who looks after the value of a product. That person focuses on creating the product and its development. He has to have passion towards the product. A product champion takes care of the product, monitors its progress and supports its progress continuously. This person can also have diverse roles like developing a marketing plan. Not only that. A product champion should help and assist in the innovation development of a new product.
  152. what is zero data (empty state)
    • Zero data (empty state) is a state in computing describing the absence of information in a system or data structure. An example of zero data includes when someone signs up for a new social networking site and doesn’t complete the details. Once this happens, the user’s profile page remains in its default form. Meaning, it is devoid of content such as posts, followers, and activity. Zero data may also occur in a new file having no data in it.
  153. what is self-service
    • With the world becoming tech-savvy, active, and well-informed, clients prefer their own support team. In fact, they’re less willing to wait for the convenience of service agents and customer support personnel. They want a perfect solution; therefore, they always turn to self-service.
    • Basically, this system lets us access resources without a service representative. A great example is an Automated Teller Machine, but it has grown into self-service gas station. Online self-service portals include FAQs and talking to an AI bot for more access.
  154. what is cloud washing
    • With the ever-growing popularity of the term “cloud,” some firms have turned to cloud washing. They are rebranding legacy software and running it as a true cloud. This practice is illegal, and a great example of washies is Oracle and Ellison.
    • Luckily, there are ways you can use to protect yourself from these firms. Some of the most common methods are app updates taking about 2 years and complex pricing structures. Non-existent and inconsistent user interfaces across several devices are indicative of cloud washing.
  155. what is renewal rate
    • Renewal rate is a measurement of the percentage of customers who renew their contracts with a product or service. This renewal may be at the end of the subscription period or before it. The renewal rate allows companies to gauge the interest of consumers toward their product or service and determine whether it is good enough for renewal or not. With the use of this measurement, companies may improve their product or service accordingly. Allowing them to increase the percentage and lessen their costs.

Project Management

  1. What is project deliverables
    • Project deliverables refer to the produced product or service of company projects.
    • These may be tangible or intangible and are to be sent to a customer. Project deliverables are usually building blocks of bigger projects and may range from reports all the way to server upgrades. Bigger and more complex projects may consist of multiple deliverables dependent on other deliverables that are in the process of completion. This helps save time and shorten the final supply term of the complex project while making it more achievable.
  2. what is project accounting
    • Project accounting means keeping track of all expenses related to a project. For instance, if you plan on launching a new website for your business, you’ll have to keep track of all associated costs. This will include web design costs, development costs, SEO costs, content costs, hosting costs, and so on. You may easily become overwhelmed and confused by all these numbers. Luckily, project accounting software like Runn, Forecast, Harvest Forecast, and Paymo can help you keep track of all project costs hassle-free.
  3. what is project baseline
    • A project baseline is the starting point for planning and managing a project. It serves as a guide for the project team to stay on track and deliver it within the defined parameters.
    • By setting a project baseline, you can measure the project’s performance against its original plan. It also enables the project manager to identify and address deviations from the plan.
    • For example, a project baseline would include the project’s initial scope, its schedule with defined milestones, and the budget allocated for development.
  4. What is a project plan
    • A project plan outlines all the steps and milestones involved in a given project/task/gig. IT teams use detailed project plans, broken down into multiple steps, to proceed with a given task systemically. Software programs like Gantt Pro, Teamwork, Liquid Planner, and Zoho Projects allow individuals and teams to break projects into smaller steps and complete mini-goals each day. Some teams also employ tools like Asana to manage workers while they’re pursuing their goal in the project plan.
  5. what is a project charter
    • A project charter relates to a statement that describes a project’s scope, objectives, and participants. Project charters are brief documents for project planning to highlight the project’s main goals and benefits. It’s an organization’s quick reference guide to why a project is happening, which can also be used as a marketing tool. A project charter document describes a project in order to establish a shared understanding and a roadmap. It is the formal document that gives the project manager permission to start the project.

See all Project Management terms

  1. what is a gantt chart
    • A Gantt chart is for project management. It helps plan and schedule projects of different sizes and supports project visualization. The Gantt chart also monitors progress and includes task scheduling tools. Businesses can use it to convert tasks and timelines into horizontal bars known as Gantt bars. The bars show the beginning and end dates of projects. It also includes scheduling, dependencies, task ownership, and deadlines. Gantt charts become useful after the task, program, or portfolio breakdown.
  2. what is kanban
    • Kanban consists of a lean workflow management system. It includes project management and improvement techniques. The system helps visualize, manage, and enhance the workflow in a team. Using a board or other visual display to track work progress items is an example of the Kanban system. We can also customize it to meet the unique team needs. Kanban provides adaptability and flexibility, making it an excellent method for an organization. The Kanban workflow management system helps meet specific work requirements.
  3. what is agility
    • Agility consists of the time an organization takes to become aware of a possible business venture and the time it takes to act on it. This makes it possible for companies to undergo development and modify the entire system. Companies can utilize their assets in preparation to act on business opportunities. Project management, enterprise architecture, and portfolio management are three of the most beneficial IT agility strategies. In today’s business environment, an agile approach is far more practical than operating in specific phases.
  4. what is a business case
    • A business case is a project management document justifying a project undertaking. It can be a verbal presentation or a written document.
    • One of the main goals of a business case is to show how the benefits of a project outweigh the costs. It can convince decision-makers that a specific project is worthwhile for the business.
    • A business case also measures the impact of a project, not just for the business but the society.
    • Lastly, it can also provide alternative options.
  5. what is burn rate
    • Burn rate refers to the rate at which a company spends its cash reserves to finance operations before generating positive cash flow. Start-ups, especially, use this to ensure that their raised funds aren’t running out while they work towards being profitable. Let’s say, for example, a start-up has $1 million from investor-raised funds. If, before generating income, that business’s operational expenses total $100,000 per month, that’s the burn rate. And, obviously, as the reserve funds lessen, the more concerning the burn rate becomes.
  6. what is scalability
    • Scalability is a term that defines a system’s capacity to adapt to both size and scale changes that occur within the resources. It is a characteristic that adapts to the constantly increasing or decreasing amount of a variable. Scalability is not about the increase or decrease in system response, but its potential in balance. This term is applicable to business, computer science, mathematics, and engineering. Scalability models are layouts that indicate an ability to increase support as a response to the increase in resources.
  7. What is dependencies
    • Dependencies are applications and activities that have a dependent relationship with an element. This element may either control, influence or perform the processes of the dependencies. They are ideally predeterminable and are part of decisions, plans, and processes. There are four kinds of dependencies, start-to-start, finish-to-start, start-to-finish, and finish-to-finish. The kind of dependency relies on the effect of its execution. However, it is also possible for a dependency to rely on the execution of the other elements in the application as well.
  8. what is a pipeline
    • In business, the pipeline helps salespeople manage and keep track of the progress of potential customers as they move through stages of the sales funnel. It basically guides a salesperson on how to use data to convert potential leads into paying customers. Prospecting, identifying qualified leads, assessing their needs, and then presenting them with a proposal form part of a sales pipeline. All-in-all, the pipeline helps businesses efficiently and effectively manage their leads, prioritize opportunities, and close more sales deals.
  9. what is resource
    • Any asset used to produce goods or services is a resource. It can be a tangible thing such as a building, or it can be a human such as an employee. Additionally, financial resources such as cash are important for operational ability. Also, a business may have intangible resources. These include intellectual property, brand reputation, or trademarks. Basically, resources are important to the operation of a business, and effective management of these resources is key to determining the company’s success.
  10. what is a bar chart
    • There are several ways you can summarize your data and make them more presentable. And the simplest and most effective method is by using some unique bar charts. It displays various categories using a certain number of bars.
    • In fact, the height of every bar is usually proportional to certain aggregations, for example, the total sum of the values in a certain category. The category can be something like geographical locations or age groups. You can even split the bars using different colors.
  11. what is a control chart
    • For quality control, a business will use a control chart to monitor a process and detect any unusual or unexpected variations. This graph uses data points collected over a period of time with upper and lower control limits. Common types of control charts include monitoring how quickly the customer service team responds to queries. Also, you can monitor how many visitors your website gets from month-to-month. If numbers drop below a predetermined control chart threshold, the business must respond accordingly.
  12. what is a work breakdown structure
    • A work breakdown structure is a structure of a project that divides it into smaller components. This structure revolves around the idea of creating easily deliverable tasks out of a hugely complex project. It is a hierarchical tree structure that branches the said project into manageable sections. This makes them easier to accomplish and improves the production rate of teams. These consist of elements that may be a product, data, or service and divides them depending on the effort their execution requires.
  13. what is goal setting
    • Goal setting is when one defines an objective and aims to accomplish it in a given timeframe. Usually, the individual or team divides the bigger goal into smaller bite-sized milestones so that they can work on it daily. Software like Clickup, Databox, Goalscape, and Goals.com are the most popular tools to help teams plan their goals and achieve them. If a certain goal involves milestones that require the expertise of multiple professionals, such tools can help bridge the gap between team members.
  14. What is action item
    • Team members and project managers use several things to track the progress of every task. And one of the most underrated tools is the action item. This tool lets you organize and track every step of an assignment. For example, you can write the tasks and complete them later in the day after attending a meeting or receiving an assignment.
    • But you should make descriptive, reasonable, and clear action items if you plan on submitting high-quality work. Plus, action items can improve your productivity.
  15. what is daas
    • DaaS stands for desktop-as-a-service. It is a kind of cloud computing that provides virtual desktops over the internet through a per-user subscription. The service provider acts as the host, streaming a virtual desktop to a user’s device.
      Compared to traditional desktops, DaaS offers plenty of benefits. For instance, it has faster deployment, reduced downtime, and enhanced security. Not to mention, it also delivers cost savings.
      The most popular examples of DaaS today are Amazon Workspaces and Microsoft Windows Virtual Desktop.
  16. what is professional services
    • Professional services refer to specialized skills and expertise offered by professionals to clients in different industries. Highly trained and experienced individuals or firms usually offer these services. Examples of professional services include accountants, lawyers, business consultants, architects, engineers, healthcare workers, and IT consultants. When engaged, they provide the expertise and knowledge needed to solve complex issues. They also contribute towards achieving strategic objectives. Professional service providers address specific problems or supplement in-house capabilities with their expert skills.
  17. what is customer journey
    • How we all interact with your brand, services, or product varies and can play a huge role in the outcome. This is what we call a customer journey or map of interactions. It describes, for example, indirect interactions like hearing about the brand and direct interactions with the support team.
      No journey is the same, but the path we take as clients enables the marketing team to come up with their strategy. They will use this strategy to guide us to the right journey.
  18. what is use case
    • A use case is a method for reviewing and analyzing software platforms and other systems. It describes the interactions of users to establish success and failure scenarios. In addition, a use case includes an identification of the users, what they want, and their goals.
    • One of the most important components in a use case is the actor. It’s the person or object performing a behavior. In addition, it also includes the stakeholder, which is any entity that will benefit from studying a system.
  19. what is fast tracking
    • Fast tracking is a project management technique to deliver a project faster. It involves overlapping or executing multiple project tasks at the same time (or in parallel), instead of sequentially. This shortens the project timeline and, thus, delivers the project quicker. In architectural projects, overlapping design and construction is a good example of fast tracking. Normally, the design comes first and then construction begins. However, with fast tracking, construction happens at the same time as the design.
  20. What is resource allocation
    • Resource allocation is a process in a business that consists of the act of assigning and managing assets. This allocation process requires a pre-established organizational goal to follow and balances its needs and priorities. Assets may be tangible like hardware or intangible like copyrights.
    • Resource allocation is a process in a business that consists of the act of assigning and managing assets. This allocation process requires a pre-established organizational goal to follow and balances its needs and priorities. Assets may be tangible like hardware or intangible like copyrights.
  21. what is work stream
    • A work stream consists of a collection of activities and tasks that a group of arranged workgroups does. Work streams come together to reach a specific goal. A work stream highlights a procedure in which individuals or teams collaborate on the end product while working on a project. Work streams also include automated workflows that you can modify and employ to achieve a business goal. Gmail, GitHub, and Dropbox are common examples of project management software that allows for better work streams.
  22. what is milestone
    • A milestone is a significant point or event marking the progress toward a goal. It’s like a signpost telling you how far you’ve come and how far you have left to go.
    • Milestones are specific and measurable with a set deadline to keep the project on track. For instance, it could be the completion of a major project phase or a critical project’s delivery.
    • Tracking milestones is essential as they help identify potential delays, measure progress, and keep stakeholders informed of the project’s status.
  23. what is kpis
    • Key performance indicators (KPIs) are metrics for measuring the success of a project or business. They enable you to track your goal’s progress and identify areas for improvement. KPIs can be financial and non-financial. They are specific, measurable, and relevant to your project or business. For example, a KPI for a software development project may be the number of bugs that need fixing per week. Another example of a good KPI is the Rate Per Client (RPC), which helps generate your income per client.
  24. what is earned value management
    • EVM or Earned Value Management is a project management technique for measuring the performance and progress of a project. This technique compares the value of a project with its actual progress to show the cost and schedule variances.
    • For example, if a project targets 50% completion within a $100,000 budget for a certain period, but the progress is 40% with total usage of $120,000. In this instance, the EVM analysis will show that it’s behind schedule and over budget.
  25. what is business process
    • A business process refers to a string of activities a company performs to attain a particular goal or objective.
    • Examples of business processes range from routine tasks, such as filing paperwork or answering phone calls, to more complex operations, like designing new products or enforcing new systems.
    • Effective business processes can help companies boost efficiency, subtract costs, and improve customer satisfaction. By analyzing and optimizing their business processes, companies can allocate resources better, streamline workflows, and fulfill their goals more effectively.
  26. What is internal stakeholders
    • Internal stakeholders include individuals that participate in managing the company. These stakeholders have an interest in the company through ownership, direct employment, and investment. Internal stakeholders include investors, employees, donors, the board of directors, and project managers. Also, internal stakeholders work as marketing experts or in manufacturing, designing, purchasing, sales, and assembly. These stakeholders influence the decisions of a company and bear the brunt of such decisions. Other factors that affect them include profitability and performance. Internal stakeholders are also known as primary stakeholders.
  27. what is lifetime value
    • Lifetime value consists of an estimate of how much revenue a customer will generate. It is the net profit associated with the relationship between the product and the customer. The worth of the customer helps businesses make economic decisions. Some decisions it impacts include resources, marketing budget, forecasting, and profitability. Lifetime value also gives businesses a clearer understanding of customer personas to serve them better. Also, companies that predict the customer lifetime value successfully can develop an effective marketing plan.
  28. what is product lifecycle
    • Every product goes through different phases, from when the producer/ manufacturer introduces it to when you buy it. During this time, it goes through 4 phases; introduction, growth, maturity, and decline.
    • The length of time it takes to go through this process is crucial to the marketing team and management. In fact, the management team uses this information to make several decisions.
    • For instance, it helps them determine if it’s the right time to lower the price, advertise more, or venture into new markets.
  29. what is a waterfall model
    • The development life cycle of any software follows a sequential and linear approach. Well, with the waterfall model, for example, the development process moves from one step to the other in a downward manner.
    • Like with most models, you must finish one phase before proceeding to the next. Plus, the output of the initial phase serves as the input of the next one. There is no overlapping of these steps, and failure to follow them can be detrimental to the business.
  30. what is kick off meeting
    • A kick off meeting is the beginning of a collaborative project. It’s the first meeting between the client and project team. This happens after defining the project details but before starting the main work.
      One of the main purposes of the kick off meeting is to have a formal introduction and establish the roles of the team members. In addition, it includes setting expectations and understanding outcomes. Lastly, it also aims to identify the risks and how to effectively manage them.
  31. what is task management
    • Task managing is something that we all do in our daily lives, but in a company, it demands some organizational strategy and skills. Fortunately, there is some software that can help you efficiently and effectively track and manage any project.
    • For example, software like Trello, Airtable, and Monday.com can help you track a task from inception to completion. You can improve your managing skills using these tools and strategies. The main goal of task management is to improve communication, efficiency, and decision-making.
  32. what is a status update
    • Status updates are meetings and conferences that teams hold in order to update each other regarding the progress of projects. These meetings and conferences are recurring and follow periodical scheduling to keep track of the organization’s production rate. They help teams stay on track with the timeline of the project and maintain a direction in which their goals can be achieved. A status update benefits organizations by allowing changes, encouraging discussions, identifying challenges, boosting collaboration, and engaging employees with one another.
  33. what is enterprise resource planning (erp)
    • A business or company features several components that have to work hand-in-hand for you to make money. Therefore, you have to integrate and manage them under one platform or ERP software. For example, some of the best ERP providers that can improve your business include SAP and Microsoft.
    • These platforms integrate human resources, finance, marketing, sales, purchasing inventory, and planning. Fortunately, most firms already have an operational and finance system in place; therefore, these platforms help them go beyond daily business processes.
  34. what is market fit
    • A market fit is a concept in business that describes the company’s target customers engaging with their products. This engagement may be through the purchase of the product, its usage, and even the customer’s recommendation. Market fit describes whether these customer engagements are enough to sustain their product’s growth over the years while also considering its profitability. It is a concept of finding a market that is ideal for the company’s product. This means the product satisfies the market while the market continuously promotes it.
  35. what is product/market fit
    • Product-market fit is an important prerequisite for businesses looking to sell their products to people who not only want them but need them too. Essentially, demand drives all product sales. Businesses only need to figure out where the demand exists. For instance, there’s no point in selling telematics software to a company that doesn’t have a fleet. Modern digital marketing techniques let you target a specific demographic (or a set) that is most likely to buy your product/service.
  36. what is go-to-market (gtm) strategy
    • This is a business plan for introducing products or services. It can either be an unveiling of a new product or a launch of your existing items to a new target market. This step-by-step plan must answer the who, what, where, and how questions of your business. It also has a detailed process of how you can reach your target customers. Knowing the market, the competition, and your business inside out makes stand out from the rest.
  37. what is google cloud platform (gcp)
    • Google Cloud Platform is a suite by Google that provides services with a high focus on cloud computing. The suite operates in the same infrastructure used by Google for widely-used products like Gmail, Google Drive, Google Search, and Youtube. Some services that GCP provides are storage, networking, machine learning, and the Internet of Things (IoT). GCP also offers computing services which include infrastructure as service, platform as service and server-less computing. It is an effective tool and secure solution for businesses.
  38. what is shared resources
    • Shared resources are any assets that’s more than one person or group can use at the same time. Examples of these resources could be equipment, office space, and supplies in a work environment. Aside from those, it could be things like software or the expertise of a group or a person. In a corporation or organization, a central authority manages and distributes these resources. So, the goal is to use them effectively and efficiently, without wasting any of them.
  39. what is a swot analysis
    • A SWOT analysis is a strategy and management technique that many businesses use. Some people may also refer to it as situational analysis or assessment. It identifies an organization’s strengths, weaknesses, opportunities, and threats, which shorten into one word: SWOT.
    • Strengths and weaknesses correspond to internal factors within the company. Meanwhile, opportunities and threats correspond to external factors. Making an organization undergo the SWOT analysis helps figure out the best actions for the company. Through it, management can properly utilize opportunities and fix weaknesses.
  40. what is a swot analysis
    • Engagement loop is a simple call to action directed towards consumers. This model encourages users to be more proactive through positive reinforcements. It aims to provide them with a great experience from start to finish. Thus, making them loyal consumers. Best case examples are Facebook and Google. By integrating various services, it keeps their users in their own ecosystem. Both companies challenge people to learn their new features. At the same time, they give out free interactive guides to help them learn better.
  41. what is product analytics
    • Product analytics is a process that analyzes the manner in which customers engage with a business. This may be towards a product, service, or brand. The purpose of performing this process is to track and reveal the customers’ engagement and behavior towards the business. It reveals the strengths and weaknesses of its product or service while providing room for optimization. Product analytics also produce a quantitative understanding of what customers do with your product and service, allowing you to relate to their lives and engage with them better.
  42. what is one pager
    • In a business setting, a one-pager is a summary that provides a snapshot of a proposal, strategy, or project. It quickly communicates the most important aspects to potential investors or customers. The point is to not overwhelm readers with too much detail. For example, a product one-pager provides an overview of the business’s services and includes information such as benefits, features, and pricing. An executive summary of a company’s key performance indicators can also be in the form of a one-pager.
  43. what is revenue churn
    • Revenue churn is the percentage of income loss within a period. Expressed as a ratio or percentage, it considers the impact of subscription cancellations on business income. It’s a popular key performance indicator for SaaS businesses.
    • Different factors can impact revenue churn. For instance, it can be because customers believe they are getting low value or quality. Meanwhile, it can also be because of involuntary factors. An example of the latter is the expiration of a credit card used in a subscription.
  44. what is revenue backlog
    • Revenue backlog refers to future payments on services that have already been rendered. This is usually the case for businesses that’ll receive an order to develop a product, but will only get paid upon delivery. Therefore, there’s a possibility that the payment might not be received. That’s because of the possibility of cancellation, delays, or renegotiation of contracts. It’s important for businesses to keep track of revenue backlog as it’ll indicate future revenue and growth potential.

Invoicing

  1. what is dunning
    • The process of communicating with customers with overdue payments or unpaid invoices is dunning. It involves sending reminders, notices, and other communications to collect the outstanding balance. The goal of dunning is to encourage customers to pay their debt and avoid legal action or collection agencies. Effective dunning requires clear, concise messaging and a personalized approach considering the customer’s history and circumstances. Businesses can improve their cash flow and maintain positive customer relationships by using dunning techniques.
  2. what is bookings
    • In business, bookings refer to sales made during a specific period. This metric tracks the performance of a business and its ability to generate continuous revenue. Bookings include product orders, hiring of services, payment of subscriptions, or any other type of revenue-generating product. Examples of bookings include event bookings, monthly subscription payments, and consultation bookings. Depending on expenses, the more bookings a business has, the more revenue it’ll make since this is an indication of interest in the products they sell.
  3. what is value-based pricing
    • Value-based pricing determines the price of a product or service depending on the customer’s perceived value. The price depends on what the business believes the customer is willing to pay. This is unlike traditional pricing which considers production costs.
    • An example of this pricing strategy is a meal at a high-end restaurant. The high price is not because of the expensive ingredients in the food. Instead, it’s because the customer believes that the experience of eating in a fancy place is worth every dollar.
  4. what is annual contract value (acv)
    • Annual Contract Value is the company’s average yearly recurring revenue for every customer contract. For example, if a customer has an $8,000 contract for one year, the ACV is $8,000. Meanwhile, if the customer has a three-year subscription worth $20,000, then the ACV is $6,666.67, which is the average over three years.
    • The ACV is a critical SaaS metric. It helps in optimizing pricing and marketing strategies. Companies often combine it with other metrics, such as churn rate, to boost growth.
  5. what is annual run rate revenue (arrr)
    • The annual run rate review can predict the possible revenue over a longer time period. It can determine a company’s financial performance based on previously earned profits. To calculate it, take the previous revenue of a certain period. Then, multiply it with the number of periods in a year. For example, Company A made a revenue of $5 million in a quarter. To get it, multiply 5 million by 4 as there are 4 quarters in a year.

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  1. what is arpu (average revenue per user)
    • ARPU is a metric that measures a product’s ability to make profit. This is highly valuable in the media or telecom industries. Media giants that have the best ARPU are Tiktok, Facebook, and LinkedIn. Measuring usually happens monthly using a company’s monthly recurring revenue (MRR). To calculate, divide the MRR over the number of active users within a specific time period you want measured. Hence, if you earned $250, and you have 3500 active users, your APRU will be $0.07.
  2. what is arr (annual recurring revenue)
    • It is a measure of predictable revenue from customers in a year. Repeating profits may come from long term contracts and subscriptions. You can expect it to continue for another length of time. To compute, make sure to include recurring revenue only. It is a crucial figure both for the company and its investors. For the company, it assesses the overall health of the business. On the other hand, investors can use it to compare a business’ performance to its peers.
  3. what is average revenue per user (arpu)
    • It measures the profit per customer over a certain time period. Based on the constant revenue models, this is a great tool for business. Companies that commonly use this are telecommunications and subscription providers. To get the average, divide the total revenue by the number of customers. If there is a $5000 profit out of 100 customers in a month, you can divide $5000 by 100 customers. Thus, the ARPU is $50 profit per customer on that month.
  4. what is average selling price (asp)
    • The Average Selling Price or ASP is the standard price at which a company sells a product for. Companies use this to check if customers find a specific product or service appealing. It helps them develop effective marketing strategies to attract more customers. From there, They can make adjustments where they are due. To understand it better, get the overall revenue of a product or service. Then, divide it by the total number of products sold. The result is now your ASP.
  5. what is break-even
    • Break-even means that a business has made enough money to cover all of its costs. It is the least amount of money a business needs to make in order to pay for all of its expenses. Let’s say a company’s costs add up to $10,000 per month and the price of its product is $10. So, by selling 1,000 units per month, it would hit break-even. It’s the sweet spot where operations are neutral; neither profitable nor losing.
  6. what is days to break-even
    • The days to break-even (DBE), is a metric that calculates the number of days a business takes to recover its customer acquisition cost (CAC). This is a crucial tool for businesses as it helps to review their return on investment. A low DBE is good as it means that the company reached ROI quickly. With a high DBE, it means the company is taking longer to recover costs. To compute, you need to divide the CAC by the average revenue per customer annually.
  7. what is gross revenue churn
    • Gross revenue churn is the percentage of revenue loss from customers over a period of time. This percentage can come from cancellations of subscriptions or downgrades of a specific period. The formula for Gross Revenue Churn is: GRR=Churned MRR ÷ MRR at the start of the month. For example, the company has $200, 000 MRR at the start of the month, and lost $20,000 from downgrades of services and cancellations. The GRR would be: Gross Revenue Churn =$20,000 ÷ $200,000 = 0.10 or 10%.
  8. what is infrastructure as a service (iaas)
    • IAAS is one type of cloud computing wherein clients outsource and rent infrastructure as needed. Companies may scale up or down their use of resources. They can do so without investing or maintaining costly physical infrastructure. Among the popular examples are Microsoft Azure and Amazon Web Services. An IaaS provider is in charge of the physical hardware while customers are responsible for the software and programs. So, businesses of all sizes find it useful as it can handle various tasks.
  9. what is mrr (monthly recurring revenue)
    • Monthly recurring revenue (MRR) is the amount of money a business receives from its customers monthly based on plans and pricing. These can be payments for subscriptions, recurring payments, or contracts. Companies also use MRR to measure the performance of the business and predict stability. They calculate monthly recurring revenues by multiplying the average revenue each month by the number of customers. For example, if you have 10 subscribers on a $200 per month plan, your MRR will be (10×200)=$2000.
  10. what is net revenue retention rate
    • The NRR is the percentage that shows how much revenue a company has over a period of time. The percentage shows the changes in customer retention. The changes can be both negative and positive. For example, a brand has 50 customers paying $1,000 each month. One of them upgraded its service by $2000, two downgraded by $250 and 1 canceled. Using the NRR formula, NRR =50000+2000-(250×2) – $1000) / $50000=$50,500/$50000=10.1% expressed monthly. So, the company’s NRR for the month is 10.1%.

CRM

  1. what is customer relationship management
    • Customer relationship management is an umbrella term that encompasses all things that businesses do to improve customer experience. This includes effective communication, data collection (surveys, feedback, etc.), storing data in a database, PR, and so on. You don’t have to hire people to do all of these things one by one. In today’s world, tools like Salesforce CRM, Monday Sales CRM, Pipedrive, and Oracle Netsuite CRM make things much simpler. These tools let you improve customer engagement and retention.
  2. what is customer retention cost
    • Project decomposition is the process of breaking down components of a large project into more manageable portions called deliverables. This process helps managers manage task assignments more easily while improving time management and workflow.
  3. what is customer retention rate
    • The customer retention rate (CRR) is a measurement of the customers you keep versus those you lose. It’s an important metric for evaluating customer loyalty and overall business health.
      Here’s the formula for computing CRR:
      [(CE-CN)/CS] x 100
      In this formula, CE = the number of business customers when the period ends. Meanwhile, CN = the number of new business customers during a given period. Lastly, CS = the number of customers at the start of the same period.
  4. what is customer lifecycle
    • A technique used to make decisions about complex issues based on individual opinions. In this method, a facilitator asks a group of experts to write their thoughts about a problem. The facilitator then compiles a summary report.
  5. what is customer onboarding
    • Customer onboarding is the process that all new users undergo when signing up for a service or product online. Traditionally, it involved manually sharing your contact information and relevant details, but now, things have evolved. Customer onboarding software like UserGuiding, Jotform, ClientSuccess, Inline Manual, and ChurnZero have made things much simpler now. This lets businesses onboard customers without much hassle. In most cases, customers only have to sign up via Facebook, LinkedIn, or Gmail. It takes a couple of seconds in most cases!

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  1. what is self-service
    • A technique used to make decisions about complex issues based on individual opinions. In this method, a facilitator asks a group of experts to write their thoughts about a problem. The facilitator then compiles a summary report.
  2. what is customer experience strategy
    • A technique used to make decisions about complex issues based on individual opinions. In this method, a facilitator asks a group of experts to write their thoughts about a problem. The facilitator then compiles a summary report.
  3. what is personalized customer experience
    • A technique used to make decisions about complex issues based on individual opinions. In this method, a facilitator asks a group of experts to write their thoughts about a problem. The facilitator then compiles a summary report.
  4. what is average customer life (acl)
    • It is the mean amount of time in which a consumer continues to avail your products or services before choosing another. To calculate, just add all your customer lifespans. Then, divide it by the total number of customers. To improve the ACL’s value, you should make the customer approach personalized as much as possible. Sending emails about new products and launches is a form of invite. By having a helpful customer support, you’ll be able to provide an area for feedback.
  5. what is contracted monthly recurring revenue
    • Contracted Monthly Recurring Revenue is a metric that companies use to compare the MRR of the current month and the previous month. The CMRR is the sum of MRR for downgrades plus the total cancellation MRRs. Whenever customers make some changes on their account, it affects the CMRR. Examples of these can be a plan downgrade, removal of an add-on, or cancellation of a subscription. To lower the CMRR, customer representatives must educate customers to show them the value of the products and services.
  6. what is customer acquisition cost (cac)
    • The Customer Acquisition Cost helps determine how much a company spends to gain new customers. It covers the total expenses of sales and promotions. Also, it includes are the properties and tools that help urge customers to buy a product. To get the CAC, divide the total amount of marketing costs by the total number of customers acquired. Thus, to cut on costs to maximize profits, companies must know how to engage with their customers. Knowing what customers want can make them happy.
  7. what is customer behavior index (cbi)
    • Customer Behavior Index is the metric that companies use to study customer behavior. These are the factors that influence a buyer’s decisions. First, we have personal factors. These include the age group, gender, ethnicity, and buying habits. Then, there are psychological factors. These involve a customer’s thought process and how he views the brand. Lastly, social factors such as a customer’s income level, residence, and peer pressure affect their choices too. With CBI, companies understand customers more and make adjustments to be able to give better service.
  8. what is customer data platform (cdp)
    • A customer data platform or CDP is a tool that companies use to create a complete customer profile. Its goal is to help companies make analysis, track, and manage customer interactions easier. CDP involves collecting and consolidating customer information by using marketing tools. These tools include CRM, social sites, and email. Companies store these data in a secure platform once they have secured the consent of the first-party. Once the CDP is good to go, they may start using it to provide personalized communication to customers.
  9. what is customer engagement touchpoint
    • Customer engagement touchpoint acts as a bridge that connects a service provider and its customers. Touchpoints help customers get their needed assistance. This is how a business keeps in touch with their clientele. Some examples of touchpoints are the company website, email, social media platforms, and even physical stores. Companies use them to establish a strong relationship with their customers. Once a customer gets a positive interaction, the more they will endorse the brand. So, it has a direct impact on a customer’s overall experience.
  10. what is customer experience (cx)
    • Customer experience is the sum of all interactions between consumers and businesses. This experience usually happens before, during, and after sales stages of a product consumption. Essential factors that can affect customer experience are convenience, customer relationship, service, and product performance. It’s true that not all interactions with consumers end up with a sale but well-established bonds produce a positive result. So, customer experience is how consumers perceive and gauge a business as a whole. Add to that, it can make or break a deal or a sale.
  11. what is customer experience era
    • Customer Experience Era is the period when customers reevaluate their decisions based on things they find worthwhile. During this time, other factors that influence their choices may appear such as transparency. In order for companies to deliver customer’s demands, they must first study their profiles. From there, they will learn to identify their preferences. They will know what services their customers are likely to accept. Once they give a personalized experience, this will increase customer satisfaction. With that, they can achieve brand loyalty.
  12. what is dau (daily active users)
    • DAU or daily active user ratio is a metric that helps service providers determine the total number of unique users. These are users who have interacted with an app or web service within a 24-hour span. This includes both new and existing customers. Its main objective is to help measure user engagement. If it’s high, it means, many consumers are supporting the product or service. Once low, consumers see it the other way. With DAU, companies can easily spot areas that need some improvement.
  13. what is days from pql to customer
    • A product qualified lead (PQL) is a potential prospect who already have a positive interaction or use of your product. After trying a free version of your product or service, this prospect is more than likely to proceed with paying for a full or premium product. It’s mainly due to having a good experience on the free trial. The time it takes for a PQL to become an actual customer is the days from PQL to customer.
  14. what is days from signup to customer
    • This is the phase when a new user signs up to become an actual paying customer. For businesses, it is important to guide new users on how to use your products or services. Add to that, it is the time when you should make a good impression. Customer onboarding is also crucial on this phase. If done right, it sets your prospect up for success leading to a shorter period from sign-up to customer.
  15. what is days from signup to pql
    • This is the average number of days before a sign-up prospect becomes a product qualified lead. After signing-up, new users can’t be called PQLs instantly. There are various requirements new users should comply with before being classified as a PQL. These users are the ones that do not need the help in navigating a new product or service. Also, they know how to discover a product’s value by exploring the user interface themselves.
  16. what is in-product call to action (cta)
    • A Call to Action (CTA) is a term that prompts the reader or audience to take the next step. The step could be a link to direct a sale. For example, a CTA can instruct a reader to click the “buy now” button to complete a purchase. Or it can be completing the next step towards becoming a customer of the company. A CTA provides clear and straightforward step for a reader or audience to take.
  17. what is infrastructure – information technology
    • A technique used to make decisions about complex issues based on individual opinions. In this method, a facilitator asks a group of experts to write their thoughts about a problem. The facilitator then compiles a summary report.
  18. what is managed service provider (msp)
    • An MSP is a third party company that delivers IT services remotely to a client. It is an outsourced service with a wide range of functionalities. Services include network monitoring and security management among others. Also, an MSP can work as an extension of an IT Department for businesses, providing support to make sure systems are performing smoothly. This alternative service offers cheaper and flexible IT solutions. It charges depending only on the client’s budget and needs.
  19. what is mau (monthly active users)
    • What Is MAU or Monthly Active Users
      MAU stands for monthly active users. These are people or unique users who actively use an application, software, or platform within a given month. Its goal is to measure the number of users who engage in digital product or services. The total MAU helps companies track and evaluate the performance of their products. MAU is useful in evaluating the overall health of a website. It also specifies aspects that need to be improved on.
  20. what is moment of joy
    • A moment of joy is a brief experience of happiness, pleasure and celebration. Examples of these are as simple as a kind gesture from a stranger, seeing a beautiful sunset, or receiving gifts. It can be also a more significant action such as achieving a goal, getting a promotion, spending time with people you love, or traveling to a new place. These moments bring positive effects. It can improve moods, cope with stress and enhance our well-being.
  21. what is moment of truth (mot)
    • A moment of truth is when a customer interacts with a company, product or service. These interactions can be both in person or online. Examples of MOTs are web browsing, online purchases, and customer support. These activities create significant impacts on customers’ impressions of the business. A positive MOT happens when the business or service meets the customer’s needs. By creating a memorable moment of truth for customers, the business is most likely to increase its chance of success in the future.
  22. what is loyalty loop
    • The loyalty loop is a marketing concept that shows how customers stay loyal to a business. A customer goes through a series of steps, from being open to what a brand can offer to actively promoting that brand by buying it again and again. For example, Starbucks uses this method all the time to keep customers coming back. It offers high-quality coffee, great customer service, and a comfortable place that makes people want to stay and drink coffee.
  23. what is customer lifetime value (clv)
    • What is the customer lifetime value (CLV)
      CLV or the Customer Lifetime Value is an essential point to quantify how relevant a customer value is to a business. This metric will help discover how much a customer is likely to spend. CLV helps to discover the right combination of short-term and long-term strategies. One way of boosting CLV is by offering loyalty programs. It is a good way of providing return on investment. This is a strategy that can increase engagement and lead to retention.
  24. what is customer satisfaction metrics
    • Customer satisfaction metrics are a collection of measures that organizations use. These standards can analyze how happy consumers are with their goods or services. The best examples of these are Customer Satisfaction Score (CSAT) and Customer Effort Score (CES). With these, businesses can figure out how well they are meeting their customers’ needs. In the end, this will help them figure out where they fall short. Thus, it will help them build better connections with their customers and make more money.
  25. what is email marketing
    • Email marketing involves sending marketing pitches for your products or services to existing and potential customers via email. You can either send out messages to your email-listed clients or use a Google Ads campaign to send your email as an ad. Email clients like Gmail, Yahoo, and Hotmail are obvious parts of every email marketing campaign. You can also benefit from email marketing tools like Mailchimp for sending out thousands of emails with a single click.