Most common business terminologies
Cybersecurity is the practice of protecting systems, networks, and programs from digital attacks1. These cyberattacks are usually aimed at accessing, changing, or destroying sensitive information; extorting money from users via ransomware; or interrupting normal business processes1. Cybersecurity measures are designed to combat threats against…
Data analytics is the process of inspecting, cleaning, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making. Data analytics has become a critical part of many businesses, as it can help them to…
Cloud computing is the on-demand availability of computing resources as services over the internet1. It eliminates the need for enterprises to procure, configure, or manage resources themselves, and they only pay for what they use. There are three types of cloud computing service models:…
A performance appraisal is a formal review of an employee’s job performance. It is typically conducted once a year, but it can be done more or less frequently depending on the organization. The purpose of a performance appraisal is to…
Employee engagement is a measure of how involved and enthusiastic employees are about their work. It is a key factor in employee satisfaction and productivity. Employee engagement is important because it can lead to a number of benefits for both…
Employee benefits are non-salary compensation that employers offer their employees. They can include a variety of things, such as health insurance, retirement plans, paid time off, and other perks. Benefits are an important part of total compensation, and they can…
Human resources (HR) is a department in an organization that is responsible for all aspects of employee management. This includes recruiting, hiring, training, developing, and evaluating employees. HR also handles employee relations, compensation, benefits, and other HR-related tasks. The goal…
Return on investment (ROI) is a financial ratio that measures the profitability of an investment. It is calculated by dividing the net profit (or loss) from an investment by the cost of the investment. ROI can be expressed as a…
Cost of goods sold (COGS) is the direct cost of producing the goods that a company sells. It includes the cost of materials, labor, and overhead. COGS is an important metric for measuring a company’s profitability, as it is subtracted…
Capital expenditure (capex) is a type of expense that a company incurs to acquire, upgrade, or maintain physical assets that are used in its operations. These assets can include buildings, equipment, land, and vehicles. Capex is typically recorded on a…