Key Technology Terms Every Business Professional Should Know

Understanding essential technology terms helps business professionals communicate effectively, make informed decisions, and leverage technology for growth. Here are some of the most important terms to know:

  • Artificial Intelligence (AI): Technology that enables machines to perform tasks that typically require human intelligence, such as learning, reasoning, and problem-solving.
  • Cloud Computing: The delivery of computing services (servers, storage, databases, networking, software) over the internet, enabling scalability and remote access.
  • API (Application Programming Interface): A set of rules that allows different software applications to communicate and share data with each other.
  • Big Data: Extremely large data sets that can be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behaviour and interactions.
  • Cybersecurity: The practice of protecting systems, networks, and data from digital attacks, theft, and damage.
  • Business Intelligence (BI): Tools and processes that collect, integrate, analyze, and present business data to support better decision-making.
  • Bandwidth: The maximum rate of data transfer across a network, affecting how quickly information can be sent and received.
  • Authentication: The process of verifying the identity of a user or device, often through passwords, biometrics, or security tokens.
  • Internet of Things (IoT): The network of interconnected physical devices that collect and exchange data via the internet (e.g., smart thermostats, wearable fitness trackers).
  • DevOps: A set of practices that combines software development (Dev) and IT operations (Ops) to shorten the development lifecycle and deliver high-quality software continuously.
  • MVP (Minimum Viable Product): The simplest version of a product that can be released to test a business idea and gather user feedback for future development.
  • KPI (Key Performance Indicator): A measurable value that demonstrates how effectively a company is achieving key business objectives.
  • Responsive Design: An approach to web design that ensures websites function well on a variety of devices and screen sizes.
  • SaaS (Software as a Service): Software that is accessed online via a subscription rather than installed locally, such as Salesforce or Microsoft 365.
  • Compliance: Adhering to laws, regulations, and policies relevant to business operations, especially in areas like data privacy and security.

Familiarity with these terms empowers business professionals to better understand technology trends, collaborate with IT teams, and drive digital transformation within their organizations.

*NOTE: This list was generated using Perplexity AI