Glossary - B

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Any system that supports back-office applications. These systems are used as part of corporate management, and they work by obtaining user input and gathering input from other systems to provide a responsive output. (Source 3)


Powered by BLE (Bluetooth Low Energy) technology, this device can transmit messages to other Bluetooth-enabled devices, such as smartphones, tablets and smartwatches. Beacons have the capability to  recognize  a device based on its location or previous interactions, enabling a retailer to send notifications to a shopper tailored to where he/she is in the store and what type of customer he/she is. (Source 3)

Best in Class 

The highest current performance level in an industry, used as a standard or benchmark to be equaled or exceeded. Also called best of breed.  (Source 23)

Big Data

Massive, complex sets of data that require sophisticated software programs. The data can be behavior-based (clicks, open rates, time spent on site), demographic (census information, income), social information (tweets, shares), timing and more.  (Source 3)


Decentralized, distributed and public digital ledger used to record transactions across many computers, so the record cannot be altered retroactively without altering all subsequent blocks. Blockchain can help keep track of consumer data by storing and validating it, and through the use of smart contract logic designed to trigger actions when certain requirements are met.  (Source 3)

Brand Performance 

A measure of how well an organization and its products or services meet customer expectations.  (Source 1)​​​​​​​

Business Intelligence  

Analytics tool that records all activities of a user to provide data that could be utilized to analyze the trends and create actionable insights. (Source 3)​​​​​​​

Brand Promise 

A declaration of assurance to customers based on a statement of value or experience that will be received. (Source 1)

Business Assets (Operations Security) 

A business asset is an item of value owned by a company. Business assets span many categories. They can be physical, tangible goods, such as vehicles, real estate, computers, office furniture, and other fixtures, or intangible items, such as intellectual property including data, knowledge, etc. 

Business Value

Business value is the net benefit that will be realized by an organization. It can be measured in either monetary or non-monetary terms. (Source 20)

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