Every key term small businesses need to know

An iOS app is a mobile application developed specifically for devices including iPhone and iPad, which run on Apple's iOS operating system.

Android apps are software applications that run on devices powered by the Android OS and can be installed on smartphones, tablets + wearable devices.

Native apps are those that were designed to run on a particular operating system like Microsoft OS, Mac OS, Android OS and iOS.

An application is a type of software designed to perform specific functions on a mobile device, computer or digital platform. See benefits, examples & more.

An API is a collection of protocols and rules that connect different software applications and allows them to exchange information with each other.

An app builder is a platform that enables businesses to create and develop mobile applications without extensive coding knowledge or design experience.

Discover the benefits and limitations of shared hosting, an affordable and beginner-friendly web hosting solution for personal and small business websites.

VPS Hosting is a web hosting service that divides a single physical machine into multiple private servers, virtually providing dedicated resources and control.

An Internet Protocol address is a unique number assigned to each device connected to a computer network that helps identify and locate devices.

An app server is a software framework or platform that acts as an intermediary between users and back-end databases, handling business logic and data access.

Cloud hosting is a web hosting solution that leverages interconnected virtual and physical servers to provide flexibility, scalability and resource efficiency.

Business assets are resources owned or controlled by a company that hold economic value and contribute to its operations and future earnings.

Cash flow is the net movement of money into and out of business from operations, investments and financing activities. Cash flow provides insights into the company’s financial viability and ability to grow.

The break-even point is the stage at which a business's total revenue equals its total expenses and is widely considered as a precursor to profitability.

Discover the significance of margins in business profitability. From gross to net margins, learn how they impact growth and financial success. Read more.

Vendor lock-in is a situation where you’re trapped in using a specific company's products or services, making it challenging for you to switch to alternatives.

Ecommerce is the process of buying and selling products & services online, allowing you to widen your reach, strengthen your brand and increase your profits.

A/B testing is a statistical method that compares two different versions of a web page, email, or ad to determine which one performs better.

An online store is a website, app or platform that helps businesses sell their products or services digitally.

Average Order Value (AOV) refers to the average monetary amount spent by a customer in a single transaction with a business. See benefits, examples & more.

Bounce rate calculates the percentage of users who leave – or bounce off – a webpage without viewing any additional pages. Discover how it’s calculated & more.

Master the online shopping checkout: explore the standard steps, essential elements, and best practices for a seamless and satisfying experience.

E-tailing, also known as electronic retailing or e-retailing, is the process of selling online through digital channels like websites and apps.

Mobile payments allow you to make secure transactions from your mobile device via near-field communication (NFC) technology, instead of using cash or card.

Contactless payment is a secure and wireless way to complete transactions without physically inserting credit or debit cards into payment terminals.

Deadstock refers to unsold products that remain in inventory, often unused or untouched for an extended period, including items that are out of season, discontinued or no longer in demand.

Click and collect is a convenient shopping model that enables customers to purchase products online and conveniently collect them from a physical store location.

Conversational AI refers to a form of Artificial Intelligence that enables natural and seamless interactions between humans and machines through conversation.

Generative AI refers to a form of AI that enables you to create original content automatically, like images, text, videos and music in a matter of seconds.

A generative Pre-trained Transformer (GPT) is an AI model developed by Open AI that processes and generates text based on human inputs.

A large language model (LLM) is a type of Artificial Intelligence system designed to generate human language. It can generate text, images and content.

Machine Learning (ML) is a subset of Artificial Intelligence (AI) that involves training algorithms to learn from and make decisions based on data. Learn more.

Artificial Intelligence (AI) is the technology that allows machines to mimic human intelligence. They can learn from experiences and perform human-like tasks.

Artificial Superintelligence is advanced Artificial Intelligence that surpasses human intelligence in all aspects, including problem-solving and creativity.

Deepfakes are AI-generated media that convincingly replaces one person's likeness with another. While, it can also spread misinformation and violate privacy.

Responsible AI ensures ethical and fair use of AI technologies, prioritising safety, accountability and privacy. It ensures that AI doesn't perpetuate biases.

Reinforcement Learning is a Machine Learning technique where an agent learns to make decisions through trial and error, based on rewards to achieve an outcome.

Computer Vision is like a human sight, which facilitates the technology that enables computers to interpret and understand visual data from images and video.‌

Image Recognition technology is a Computer Vision task that involves identifying and categorising the main content or subject of an entire image. Learn more.

Frontier AI is an advanced, innovative technology that pushes the current boundaries of the most advanced AI models.

Big data refers to huge amounts of complex data that grow exponentially over time and can't be handled by conventional data management systems. ‌

Supervised learning is a Machine Learning method where a model learns from labelled data to make predictions on new, unseen data. Read on to learn more.

Unsupervised Learning is a Machine Learning method where a model learns from unlabelled data to make predictions on new, unseen data. ‌

Semi-supervised learning is a Machine Learning method where a model learns from labelled and unlabelled data to make predictions on new, unseen data. ‌