Tech Terms Leaders Should Know

The amount of technology terms that have become common language continues to amaze me. From bandwidth and 4K to cloud and cookie, we often rattle off terms as if everyone knows exactly what we’re talking about.

I’ve learned that’s not always the case. After or even during a meeting, I often will have someone pull me aside to ask “What does that mean anyway?" Here are the meanings of some common tech terms used in business today and why they matter:

• Cookie describes the small piece of information collected on you, typically. A Web server automatically sends a small file to your device to collect information about websites you have visited and actions you have taken on a website such as adding an item to your shopping cart.
  
  Initially, these cookies were commonly used to save log in information. Today, advertisers use cookies to track browsing and buying habits and then often develop highly targeted (and personalized) marketing campaigns. This is why you could browse for something on Amazon and then see an ad for that product appear on your Facebook feed – even sold by a different company. Or you could receive an email with coupon for an order when you “abandon” your online shopping cart. 

• Pixel usually refers to the smallest element of an image that can be individually processed in a video display system. Now its also a JavaScript or HTML code used by online platforms such as Facebook to track actions taken, often called conversions, and the return on an investment of a particular advertising campaign. With this technology, a 1x1 pixel image, invisible to the human eye, is added to any website page and sends information to Facebook when someone visits or takes action.
  
  A pixel for example could be added to a page users would likely visit before making a purchase or a page users see after signing up for an event. The organization then can set up an ad specific to that audience with a call to action and view how many people completed the desired action.
  
  
• Plug In describes the software extension that adds a specific feature to an application. For an example, you can add a Facebook plug in to your website so your latest Facebook posts also appear in a feed on your website, most commonly the home page. It’s common to enable a series of plugs in when using a web browser.
  
  
• Malware is intrusive software that is intended to damage or disable computers and computer systems. This malicious software affects every organization and can have devastating business implications. Most of the time these programs are called viruses, trojans, spyware and the like. Learn more about malware.
  
• Ransomware is one of the worst types of malware. It is designed to block access to a computer system until a sum of money is paid. While individuals are most often targeted today, it won’t be long before organizations are held “ransom,” too.

• Bitcoin describes a form of digital currency. Encryption techniques are used to regulate the generation of these units of currency and verify the transfer of funds. This currency operates independently of a central bank. These are typically the funds used to pay off the ransomware attack. Learn more about bitcoins.

• IoT and IoE is short for theInternet of Things or Internet of Everything. They have been used interchangeably and refer to the rapidly growing network of physical objects that have an IP address and communicate with other Internet-enabled devices and systems.
  
  IoT is designed to bring together people, processes, data and things to make the networked connections more relevant and valuable. This is the technology that future refrigerators will use to order groceries for delivery so the user never runs out. Or it even syncs with an individual’s calendar to identify an upcoming event and orders the food and supplies based on a menu or set of recipes you have stored. The possibilities are endless and will completely reimagine how we do business. Learn more about IoT.

The list of tech terms can go on and on and there are new acronyms arriving almost daily. It can be hard to keep up. But it’s worth taking a closer look and asking what it really means to your organization. The answer could help your organization achieve even better results.