Tech terms to know

7 tech terms every business person should know

Technology advances at a breathtaking rate, so keeping up with the latest developments can sometimes be difficult.

As a business person, you might not need to know everything about these breakthroughs, but you do need a grasp of basic tech terms or jargon. Do this and it’s more likely that your company will have a better overall relationship with technology. Here are a few terms to get you headed in the right direction.

Business Continuity

After a data disaster — like a malicious virus or server malfunction — your business may not be able to operate at full capacity. These issues can take down your systems and cause extended downtime.

A business continuity plan applies risk management principles to your company and works to prevent essential services from shutting down. As a result, your company can minimize financial losses and avoid operating standstills.

Cloud Computing

You may be using cloud computing without understanding exactly what it is. Instead of storing data locally on your office computers, the data is stored on remote servers. You are able to access this information through the internet, and typically, you can use any connected device to access it.

Related: 3 reasons SMBs are adopting the cloud

Colocation

Colocation is a colorful term for a data center that rents out hardware space to other companies.

In general the “colo” is responsible for the building, bandwidth, and security. The businesses bring in their own servers and storage. However, some of these colos now offer managed IT services, which further simplifies a company’s relationship with its technology.

LAN

A LAN (local area network) links multiple computers together. Having a LAN means your computers can share applications, files, and printers. You have undoubtedly been using a LAN or multiple LANs for years at work and maybe even at home. Life without LANs would definitely slow business productivity to a crawl.

Fiber Optics

Fiber optics have been an integral part of technological developments over the last few decades. These lines are constructed of “optically pure glass” and are thinner than strands of thread. They are able to transmit digital information for great distances. Without them, you wouldn’t have the Internet or cable television, two necessities of modern life.

SaaS

SaaS or Software as a Service means your company doesn’t buy and install software on site. Instead you pay a cloud-based company to provide the programs you need.

As a result, your company can save money, improve mobility, and receive access to the latest software versions.

Wave 2 Wireless

Wave 2 Wireless is one of the more exciting developments for the internet in recent years. Wave 2 allows you to connect more devices on the WiFi network with fewer problems logging on and off. Because Wave 2 has an additional spatial steam, your computers and tablets will receive data more quickly and generally work more efficiently.

 

Even if you have a dedicated IT partner, it’s important to understand tech terms like these and how they relate to your business operations as a whole. The more you know, the more likely it is that you’ll have a better relationship with your technology.