(Newswire.net — February 18, 2020) — In a rapidly advancing tech-driven society, it can be hard to stay on top of all the new developments taking place around us. One thing making the situation even more complicated is the extensive list of acronyms and abbreviations that get tossed around when talking about new technologies and software. Rest assured that if you regularly feel overwhelmed by the sheer number of acronyms you encounter on a daily basis, you are not alone.
That being said, you can’t get too far in business without knowing the lingo. These days, technical acronyms quickly work their way into the vernacular. It’s important to know your way around them, especially if you’re an IT business using marketing terminology to differentiate and sell your products. Here are a few acronyms to make sure you know offhand.
ERP
Enterprise resource planning (ERP) is business process management software that allows an organization to use a system of integrated applications to manage the business and automate many back-office functions related to technology, services, and human resources. If you use e-commerce, for example, this type of software can make a huge difference in your workflow and how much you sell. Knowing how to integrate your ERP solution can be the difference between whether your company sinks or swims.
MPR
Material requirements planning (MRP) is a production planning, scheduling, and inventory control system used to manage manufacturing processes. These days, a good MRP software is cloud-based and designed to meet three main objectives: ensure that materials are available for production and products are available for delivery to customers, maintain the lowest possible material and product levels in store, and plan manufacturing activities, delivery schedules and purchasing activities.
AaaS
Analytics as a Service (AaaS) is but one member of the -aaS family of acronyms, all of which refer to the on-demand services that have replaced the one-time, high-investment technologies of the past. SaaS, or Software as a Service was the first to emerge and essentially refers to the offering or different types of software, from those newly developed to the enterprise-grade staple cloud-hosted services. Analytics as a Service (AaaS) joins SaaS to give businesses a more competitive advantage when implementing data insights, without necessarily having to hire a consultant or invest in a full-scale analytics platform.
SMO
Often confused with search engine optimization (SEO), which is an established strategy for Internet marketers to increase websites’ rankings on search engines, social media optimization (SMO) is essentially the next step. With social networks playing such an important role in our lives, they are starting to have a significant impact on search engine results. Businesses making smart use of SMO are looking to optimize their websites and content to be spread far and wide through social sharing.
IoT
It might sound like something right out of a science fiction film, but the Internet of Things (IoT) is going to become increasingly pervasive as our lives become more connected. Essentially allowing “things,” including people, animals, and objects, to transmit information automatically over a network, IoT removes the need to interact with a computer or another person.