Industry Jargon

Industry Jargon2019-04-19T13:40:33+00:00

Algorithm: a set of rules or instructions given to an AI program, neural network, or another machine to help it learn on its own; the backbone of AI.

Artificial Intelligence (AI): technology intended to respond to and learn from stimulation in a similar way to human responses with a level of understanding and judgment that’s normally only found in human expertise.

Attended RPA: attended RPA includes scenarios where decision making and/or user input is required, such as desktop automation. These software robots work at an employee’s workstation and are triggered by two situations: a user’s command and instances were Robots need input from the user to continue a task. Access is often limited to the employees within a specific department or workstation.

Automation Integrator: a systems integrator who makes different versions of automation hardware and software work together, generally combining several subsystems to work together as one large system. Software created by automation integrators allows devices to communicate with each other, as well as collecting and reporting data.

Blockchain: a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the0 previous block, a timestamp, and transaction data. By design, a blockchain is resistant to modification of the data. It is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way”.  Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires the consensus of the network majority.

Bots: a software application that runs automated task (scripts) over the internet. Typically, bots perform tasks that are both simple and structurally repetitive, at a much higher rate that would be possible for a human alone.

Business Intelligence: a system of technologies, practices, and applications that help companies collect, analyze, and present information related to business operations.

Business Process Management (BPM): the practice of using modeling, automation, data insights to optimize business activities, enterprise goals, and employee operations.

Business Process Outsourcing (BPO): contracting the operations and responsibilities for a particular business process, or set of processes, to a third-party service provider.

Chatbot: an algorithm programmed to simulate a human being in order to conduct a conversation.

Cognitive Automation: automation that’s a step up from regular RPA that can work on semi-structured and structured data alike.

Computer Vision: the technology that allows automation software to recognize and interact with information from images or multi-dimensional sources that can be used for artificial intelligence, machine learning, and pattern recognition.

Cryptography: the practice and study of techniques for secure communication in the presence of third parties called adversaries.

Customer Relationship Management (CRM): a business strategy directed to understand, anticipate and respond to the needs of an enterprise’s current and potential customers in order to grow the relationship value. http://www.crmsearch.com/crm-to-cxm.php

Customer Experience Management (CXM): includes both the individual experience in a single transaction as well as the sum of all experiences across all touch points and channels between a customer and a supplier over the duration of their relationship. (aka CEM or CX)

Cybersecurity: the practice of protecting systems, networks, and programs from digital attacks, usually aimed at accessing, changing or destroying sensitive information; extorting money from users; or interrupting normal business processes.

Deep Learning: a pattern-based processing method that is a type of machine learning. Deep Learning allows automation robots to mimic human tasks like identifying images on a screen, recognizing the language, or predicting outcomes.

Enterprise Resource Planning (ERP): a system that allows companies to manage operations such as accounting, project management, and procurement through software packages that enable companies to gain insight through a single database of shared information.

Full-Time Equivalent (FTE): the amount of work a full-time employee does in a department, or on a certain project.

Graphical User Interface (GUI): a method of computer interaction that allows users to trigger program actions with windows, icons, and menus.

Knowledge Process Outsourcing (BPO): contracting knowledge-intensive activities which are data-driven and encompass the process of gathering, managing, analyzing, and delivering objective insights into a business.

Machine Learning: the process that allows software robots and AI to learn new processes through pattern recognition rather than needing to be individually and precisely programmed for each new situation.

Natural Language Processing (NLP): part of artificial intelligence, NLP allows computers to understand, interpret, and mimic human languages.

Neural Network: a set of algorithms, modeled loosely after the human brain, that is designed to recognize patterns.

Optical Character Recognition (OCR): software that captures letters, numbers, and symbols in PDFs files, images, and paper documents that enable users to edit the content of the documents digitally.

Optical Mark Recognition (OMR): software that captures marks, checkboxes, etc. in PDFs files, images, and paper documents that enable users to edit the content of the documents digitally.

Pilot Program: a test that follows the initial proof-of-concept phase to see if the technology will perform as expected in more advanced, complicated conditions.

Proof of Concept (POC): a test run of the automation to discover its limitations and help ensure that the technology will work as intended.

Robotic Process Automation (RPA): software robots that mimic and integrate human actions within digital systems to optimize business processes. RPA automation captures data, run applications, trigger responses, and communicate with other systems to perform a variety of tasks.

RPA Roadmap: a plan that comes after the automation design phase and provides companies with guidelines to meet their RPA goals. This includes a cost-benefit analysis of the processes selected for automation.

Screen Scraping: copying data from one application to another using a computer program.

Security Operations Center (SOC): helps organizations improve security, compliance, and governance by 1) monitoring their cloud and on-premise infrastructure 2) identifying and reporting suspicious or malicious activity 3) hunting and killing cyberattacks and 4) produce, report and maintain performance metrics to protect the company, brand, and reputation. Some SOC’s only offer a portion of these services, while others are end-to-end providers.

Software Robots: software robots that free human employees from repetitive, manual work and data entry. These robots interact with applications and systems through a graphical user interface or a command-line interface to carry out routine tasks.

Systems Integrator: a person or company that specializes in bringing together component subsystems into a whole and ensuring that those subsystems function together, a practice known as system integration. They also solve problems of automation and are good at matching a client’s needs with existing solutions. Data quality issues are an important part of the work of systems integrators.

RPA Multi-Tenancy: an architecture where a single instance of software application can be used by multiple teams/departments. Multi-tenancy facilitates convenient scaling and collaboration within an organization while maintaining privacy.

Unattended RPA: software robots that need little—or no—human intervention to carry out actions on a 24/7/365 basis when triggered. These robots complete work continuously in a batch-mode model that allows for around the clock automation. These robots can be accessed remotely by different interfaces and platforms, and administrators can view, analyze, and deploy scheduling, reporting, auditing, monitoring, and modification functions in real-time from a centralized hub.

Unstructured Data: information that isn’t organized in a defined way and is often filled with text, dates, and numbers in an unorganized system.

Workflow Automation: using RPA technology to automate steps in manual or routine business tasks to improve day-to-day practices, make employees more efficient, and allow humans to focus on higher return work.

 

 

Sources:

  1. Kate McDaniel, UiPath – https://www.uipath.com/blog/ultimate-rpa-glossary-of-terms
  2. Wikipedia – https://en.wikipedia.org/wiki/Main_Page
  3. HCL Technologies – https://www.hcltech.com/technology-qa/what-is-knowledge-process-outsourcing-kpo
  4. Skymind – https://skymind.ai/wiki/neural-network