The Dictionary of Abbreviations
The Abbreviation Dictionary
The Abbreviation Dictionary
In the age of digitization, abbreviations are everywhere. Sometimes the amount of them is so overwhelming that it is hard to keep up. To help you make sense of things, we gathered the most important abbreviations you will see on our blog as well as out there in the rest of the digital world into one post. We present to you: the Abbreviation Dictionary!
What does FSM software stand for?
FSM: Field Service Management
FSM stands for Field Service Management. Therefore, like the name suggests, FSM software is a system made specifically for the management of field service businesses. It can automate your business and give you tools helping with things like invoicing, sales, CRM and HRM.
CRM: Customer Relationship Management
CRM is short for Customer Relationship Management. This is the act of tending to customer relationships through different techniques, including bigger ones like the collection and storage of customer data and its utilization, as well as simpler ones like follow-up emails.
HRM/HR: Human Resource Management
HRM, or sometimes HR, refers to Human Resource Management. This is the management of the employees in the organization, and it often refers to a system which is designed for the management of personnel.
KPI: Key Performance Indicator
KPIs are a tool in measuring how well the company meets its goals. An example of a KPI is for example the waiting time for orders.
ROI: Return on Investment
ROI measures the return on investment – how well does it pay itself back? You can use ROI to evaluate whether an investment makes sense or compare two or more options.
What was that AI all about?
AI: Artificial Intelligence
AI stands for Artificial Intelligence. AI isn’t that easy to define, but the idea behind it is that it refers to an intelligent machine which can solve complex problems, adapting and learning as it goes.
VR and AR: Virtual Reality and Augmented Reality
VR and AR stand for Virtual and Augmented Reality. The two relatives are both ways to extend a reality as to say. Virtual reality is known for the headsets, which allow the user to walk around a virtual reality while sitting down, witnessing the surroundings with their own eyes and ears. For augmented reality, Pokémon Go is a good example of it – the application takes advantage of the physical map and surroundings and places Pokémon on your streets through your camera.
API: Application Programming Interface
Simply put, API refers to a part of a server. API receives and responds to requests. APIs can be used so that users can complete actions with third parties without leaving the web page.
SaaS: Software as a Service
Software as a Service, or SaaS, is becoming a more and more popular form of software. Instead of buying a disc to install the software, it is in the cloud and subscription-based. For example, Microsoft Office 365, as well as Husky Intelligence, are examples of SaaS.
IoT: Internet of Things
IoT refers to connecting devices to the internet and to each other. These devices could include speakers and microwaves at home, self-driving cars, or industrial machines in factories for example. The devices collect data and share it through the connection. This way, the devices can give recommendations as well as detect possible problems in the future.
Now that you’ve read through the Abbreviation Dictionary, feel free to take a look around our blog for other great content! If you want to learn more about Husky Intelligence, you can check out Husky Tour, which will run you through our features. If you have other questions, you can also contact us!
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