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Terms Business Owners Might Not Know but Should

Just because you are a great entrepreneur does not mean you are great in every area of entrepreneurship. In fact, it is virtually impossible to be a 1

Just because you are a great entrepreneur does not mean you are great in every area of entrepreneurship. In fact, it is virtually impossible to be a 10/10 in every area of business necessary for success. This is where the most successful entrepreneurs realize that the notion of ‘never stop learning’ not only applies to them but can in part determine their success or failures as well. Technology is an industry that is in such constant evolution it can be difficult to stay on top of the latest and greatest. Below are a few terms that even the most tech dense business owners should have a handle on so that they can maintain relevancy in an ever-changing sector.

Telematics

Telematics refers to a field that encompasses elements of telecommunications, vehicle technologies, computer science, and electrical engineering. This is a significant term to learn about because you do not have to be in the logistics industry specifically, to realize that using the proper telematics solutions can create ease, or stress, within your businesses operations. Start small, you can review a guide on what is telematics before you dive headfirst into software solutions. 

These guides will help breakdown the details within the larger world of telematics so that you can easily understand each category on its own as well as how they pertain to the larger picture. Be advised that this data is significant and will likely trickle into other areas of your business, which can create a domino effect of identifying and solving for, inefficiencies. For example, employing telematics for the purpose of tracking shipments might also help you gain insight into driving habits, which can result in your needing to review your driver training procedures if what you learn does not comply with company expectations. 

Cybersecurity

You have probably heard the term hacker used in casual conversation and not known exactly what that means in terms of protecting your business against them. It is not uncommon to both know that you need internet security protection, but also not really know what it is exactly. A data breach can happen quickly and can be the root of many other problems that extend well beyond the four walls of your business. Educating yourself on the semantics of cybersecurity in advance of an issue is the best defense. The basics of cybersecurity are protective software programs that:

  • Identify and manage security risks
  • Implement controls that reduce security risks
  • Detect and understand potential problems and their origination
  • Respond to and recover from a breach

Cloud Computing

You have probably heard people refer to ‘the cloud’ and smiled and nodded along to be polite while internally asking yourself, what is that? In a nutshell, cloud computing refers to the on-demand availability of computer systems resources. This mostly means that teams have access in real time to projects and documents, all stored on the cloud, that they did not necessarily create or edit. Nowadays cloud computing is highly essential as more and more businesses have declared an official, long-term, work from home or hybrid attendance policy for their employees. 

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