This is a thought leadership article by PrimeGlobal member firm Lutz which helps decode tech talk by highlighting the 10 technology terms that you should know. 

Even if you don’t work in an IT department, you interact with technology daily. You don’t need to understand all the nuances of the various concepts and applications, but, at the very least, you should know some basics. Below are ten technology terms you might encounter.

1. MULTI-FACTOR OR TWO-FACTOR AUTHENTICATION: 

A second layer security measure for accessing an account. In addition to entering your username and password (the first authentication factor), you must provide an additional credential. The second credential typically is a randomly generated number or prompt on your phone to finish signing in to your account.

2. OFFICE 365: 

A subscription online software service provided by Microsoft. Depending on your subscription plan, Office 365 can include email, the Microsoft Office software suite, and numerous other collaboration and communication tools.


3. PHISHING:

An attempt by a cybercriminal to obtain your password, credit card, or other confidential information via email. Phishing uses deceptive emails and websites that claim and appear to be from legitimate entities.

4. SAAS:

Also known as software as a service. SaaS is a method of licensing an application where it is purchased with a subscription that allows access online. Typically, the application is not installed or hosted on local computers, but in a cloud and usually accessed via web pages.

5. CLOUD HOSTING:

Instead of managing your own physical server equipment, cloud hosting outsources to a cloud provider, such as Microsoft Azure or Amazon AWS, for storage and computing resources. Cloud hosting is spread across hundreds of virtual servers in the cloud providers network.

6. SIEM:

Also known as security information and event management (SEIM). This is a software solution that collects and analyzes log event data in real-time from network devices and applications to provide IT threat monitoring, event correlation and incident response.

7. BUSINESS CONTINUITY:

A way of creating a system of prevention and recovery plans to handle potential threats to a company. Business continuity is an organization’s ability to ensure operations and core business functions are not severely impacted if some unplanned incident, such as a natural disaster or cyberattack, takes critical systems offline.

8. CENTRALIZED PASSWORD MANAGEMENT:

This consolidates account login credentials for multiple applications and devices across an organization’s network in one single application that requires only one login for access. It also allows IT administers more control over user security.

9. DISK ENCRYPTION:

A technology, such as Windows BitLocker, that protects information on a computer’s hard drive or USB flash drive by converting the data into unreadable code that cannot be deciphered easily by unauthorized people. A password key is required to decrypt the data.

10. BUSINESS INTELLIGENCE:

A technology-driven process of gathering data about various aspects of the business from multiple sources, analyzing the data, and converting that data into information and actionable insights that can be used to make strategic decisions.

 

As the use of technology continues to increase, it’s critical to have a general understanding of its main concepts and applications. This list of decoded terms will equip you with the knowledge necessary to better comprehend and use the various technological systems in our world today. For more information or questions, please contact Lutz Tech.

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Lutz

Since our founding in 1980, Lutz has steadily grown to become the largest locally owned firm of its kind in Nebraska because of integrity, work ethic and collaboration. Your goals are our goals. We believe that understanding where you’re coming from is a vital part of getting to the bottom line and taking you where you need to go. We provide accounting services such as tax, accounting, assurance, business consulting and valuation. Additionally, we provide investments and planning, recruiting and technology services.

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