Luxury Lexicon 29 terms
Technology terms
Business software, equipment and technical terminology.
A
- A/B testing
- Comparing two versions of something with separate groups to measure which better achieves a defined outcome.
- Agile
- An approach to delivering work in small increments, with regular feedback and adjustment.
- API
- Application programming interface: a defined way for software systems to exchange requests and information.
B
- Business intelligence
- Turning business data into reports and analysis that support decisions.
C
- CAD
- Computer-aided design: using software to create or modify technical drawings and models.
- CMS
- Content management system: software for creating, organizing and publishing digital content.
- CNC
- Computer numerical control: operating machinery through programmed instructions to make or finish parts.
- CRM
- Customer relationship management: the practices and software used to record customer information and manage contact with customers.
D
- DAM
- Digital asset management: organizing, storing and controlling access to files such as product photographs, videos and artwork.
- Data governance
- The responsibilities and rules for managing data quality, access and use.
E
- ERP
- Enterprise resource planning: software that connects activities such as purchasing, inventory and finance through shared records.
G
- GDPR
- General Data Protection Regulation: rules governing how personal data is handled.
H
- HRIS
- Human resources information system: software used to maintain employee records and support personnel processes.
M
- Master data
- Core records shared across activities, such as product, customer and supplier details.
P
- PIM
- Product information management: maintaining consistent product details for use across sales channels and other systems.
- Pivot table
- A spreadsheet tool that groups and summarizes data so it can be compared by category.
- PLM
- Product lifecycle management: coordinating a product's information and development from its initial concept onward.
- POS
- Point of sale: where a purchase is completed, and the equipment or software used to take payment and record the sale.
- Power BI
- Microsoft software for connecting data, analyzing it and presenting reports and dashboards.
R
- RFID
- Radio-frequency identification: using electronic tags and readers to identify and track items without a visible barcode scan.
S
- SAP
- A business software provider whose products support activities such as finance, procurement and inventory.
- SEO
- Search engine optimization: improving a website so search engines can understand it and people can find it through unpaid results.
- SLA
- Service-level agreement: a documented agreement on the service to be provided and how its performance will be measured.
- SQL
- A language used to retrieve and work with data in relational databases.
U
V
- Virtual selling
- Advising and selling to customers remotely through video, messaging or other digital contact.
- VLOOKUP
- An Excel function that finds a value in the first column of a range and returns a value from another column in the same row.
W
- WMS
- Warehouse management system: software for managing warehouse stock and work such as receiving, picking and dispatch.