More Business Acronyms: Some You May Hear Soon (if you haven’t already)

We’re all familiar with the typical slew of acronyms brought about by the newest wave of the digital age: SaaS, CRM, ERP, CMS, XML and SMS to name just a few. Below are a few you’ll most likely hear soon, if you haven’t already. But first, I did find a couple that are not necessarily technology related, but could come in handy.

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RTQ2
Read The Question Twice. A very useful reminder for text-based exams of all sorts. Also could be extremely helpful when replying to all.

MOFMOF
Minimum Of Fuss, Maximum Of Flavour. The MOFMOF maxim is extremely transferable to work, management, business, and to life generally, since it essentially emphasises the concept of focusing your effort on what matters most. ‘Minimum of Fuss’ equates to minimum effort, investment, time, resources, etc. ‘Maximum of Flavour’ equates to maximum return, result, reward or effect, etc. This is the secret of productivity, sustainable success, and effectiveness in all fields, not just cooking, and is one of the most widely neglected simple rules of achieving anything.

Source: http://bighow.com/news/75-most-useful-acronyms-for-business-and-work-the-success-manual

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BYOD: Bring Your Own Device

Bring your own device (BYOD) is a business policy of employees bringing personally owned mobile devices to their place of work and using those devices to access privileged company resources such as email, file servers and databases as well as their personal applications and data. It is also becoming more prevalent in education, with children bringing their devices to access school-supplied content before, during and after class.

“A new technology trend has been making the rounds in education. The technology trend is called BYOD or Bring Your Own Device. In higher education, this idea is not really that new. It has become second nature for a student to bring a laptop and their mobile device to a class… If BYOD is implemented in the correct way and with a directed purpose in the classroom, it can provide the students with a more engaging and memorable experience during a lecture.”

Sources: http://en.wikipedia.org/wiki/BYOD; http://blogs.princeton.edu/etc/2012/06/08/byod-bring-your-own-device-and-the-classroom/

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VTC: Video Tele-Conferencing

Videoconferencing is the conduct of a videoconference (also known as a video conference or videoteleconference) by a set of telecommunication technologies which allow two or more locations to communicate by simultaneous two-way video and audio transmissions. It has also been called ‘visual collaboration’ and is a type of groupware.

Videoconferencing differs from videophone calls in that it’s designed to serve a conference or multiple locations rather than individuals. It is an intermediate form of videotelephony, first deployed commercially in the United States by AT&T Corporation during the early 1970s as part of their development of Picturephone technology.

With the introduction of relatively low cost, high capacity broadband telecommunication services in the late 1990s, coupled with powerful computing processors and video compression techniques, videoconferencing usage has made significant inroads in business, education, medicine and media. Like all long distance communications technologies (such as phone and Internet), by reducing the need to travel to bring people together the technology also contributes to reductions in carbon emissions, thereby helping to reduce global warming.

Source: http://en.wikipedia.org/wiki/Videoconferencing

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SEM: Search Engine Marketing

Search engine marketing is a form of internet marketing that involves the promotion of websites by increasing their visibility in search engine results pages (SERPs) through optimization (both on-page and off-page) as well as through advertising (paid placements, contextual advertising, and paid inclusions).[1] Depending on the context, SEM can be an umbrella term for various means of marketing a website including search engine optimization (SEO), which adjusts or rewrites website content to achieve a higher ranking in search engine results pages, or it may contrast with pay per click (PPC), focusing on only paid components.

Difference between SEO and SEM? SEM is the wider discipline that incorporates SEO. SEM includes both paid search results (Using tools like Google Adwords or Microsoft adCenter) and organic search results (SEO). SEM uses paid advertising with AdWords or Bing Ads, pay per click (particularly beneficial for local providers as it enables potential consumers to contact a company directly with one click), article submissions, advertising and making sure SEO has been done. A keyword analysis is performed for both SEO and SEM, but not necessarily at the same time. SEM and SEO both need to be monitored and updated frequently to reflect evolving best practices.

And worth noting: In some contexts, the term SEM is used exclusively to mean pay per click advertising, particularly in the commercial advertising and marketing communities which have a vested interest in this narrow definition. Such usage excludes the wider search marketing community that is engaged in other forms of SEM such as search engine optimization and search retargeting.

Source: http://en.wikipedia.org/wiki/Search_engine_marketing

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UCaaS: Unified Communications as a Service

Unified communications (UC) is the integration of real-time communication services such as instant messaging (chat), presence information, telephony (including IP telephony), video conferencing, data sharing (including web connected electronic whiteboards aka IWB’s or Interactive White Boards), call control and speech recognition with non-real-time communication services such as unified messaging (integrated voicemail, e-mail, SMS and fax). UC is not necessarily a single product, but a set of products that provides a consistent unified user interface and user experience across multiple devices and media types. There have been attempts at creating a single product solution however the most popular solution is dependent on multiple products.

UCaaS is the virtualization of unified communications, with the UC functions supplied by a third-party provider as a cloud-based service rather than by equipment located on the user’s premises.

The UCaaS market is expected to be worth $1.9 billion this year, up 15.8 percent over the previous year, according to research firm Frost & Sullivan. The market is “very dynamic and vibrant” in the hosted and managed business applications industry, although there are “varying levels of maturity” depending on the applications and the geography, the research firm noted.

Source: http://www.fierceenterprisecommunications.com

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IaaS: Infrastructure as a service

In this most basic cloud service model, providers offer computers, as physical or more often as virtual machines, and other resources. The virtual machines are run as guests by a hypervisor, such as Xen or KVM. Management of pools of hypervisors by the cloud operational support system leads to the ability to scale to support a large number of virtual machines. Other resources in IaaS clouds include images in a virtual machine image library, raw (block) and file-based storage, firewalls, load balancers, IP addresses, virtual local area networks (VLANs), and software bundles. Amies, Alex; Sluiman, Harm; Tong IaaS cloud providers supply these resources on demand from their large pools installed in data centers. For wide area connectivity, the Internet can be used or—in carrier clouds — dedicated virtual private networks can be configured.,

Source: http://en.wikipedia.org/wiki/IaaS#Infrastructure_as_a_service_.28IaaS.29

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PaaS: Platform as a service (PaaS)

In the PaaS model, cloud providers deliver a computing platform typically including operating system, programming language execution environment, database, and web server. Application developers can develop and run their software solutions on a cloud platform without the cost and complexity of buying and managing the underlying hardware and software layers. With some PaaS offers, the underlying computer and storage resources scale automatically to match application demand such that cloud user does not have to allocate resources manually.

Source: http://en.wikipedia.org/wiki/IaaS#Infrastructure_as_a_service_.28IaaS.29

Posted by Chuck Ebbets   @   28 November 2012

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