List of 150 Business Analysis Terminologies

Explained with Examples

Created By – Diwakar Kumar Singh

Agile: An iterative and flexible approach to project management. For
example, using the Scrum framework to develop software in short
sprints.

As-Is Analysis: Assessing and documenting the current state of a

process or system before proposing improvements. For example,
analyzing the existing sales order processing system to identify
bottlenecks.

Acceptance Criteria: Specific conditions that a product or project must

meet to be considered satisfactory. For example, the acceptance
criteria for a website could include browser compatibility,
responsiveness, and functionality.

Backlog: A prioritized list of features, requirements, or tasks to be

addressed in a project. For example, a product backlog in software
development contains user stories waiting to be implemented.

Benchmarking: Comparing a business process or performance against

industry best practices or competitors to identify areas for
improvement. For example, benchmarking customer service response
times against industry leaders.

Business Process Modeling (BPM): Creating visual representations of

business processes to understand and improve workflow. For example,
using a flowchart to map out the steps involved in a purchase order
process.
Business Requirements Document (BRD): A formal document that
outlines the objectives, scope, and functional specifications of a project.
For example, a BRD for a new e-commerce platform would describe
features like user registration, product catalog, and payment
processing.

Business Rules: Specific conditions or guidelines that dictate how a

business operates. For example, a business rule for an insurance
company might be that claims over a certain amount require manager
approval.

Change Management: The process of planning, implementing, and

managing changes within an organization to minimize disruptions. For
example, developing a communication plan and conducting training
sessions during a software system upgrade.

Cost-Benefit Analysis (CBA): Evaluating the potential costs and benefits

of a project or investment to determine its financial viability. For
example, analyzing the return on investment (ROI) for implementing a
new CRM system.

Critical Success Factor (CSF): A key area or factor that is crucial to the
success of a project or organization. For example, customer satisfaction
could be a critical success factor for a hospitality company.
Data Dictionary: A central repository that defines the structure, format,
and meaning of data elements within a system. For example, a data
dictionary could describe the fields and data types in a customer
database.

Decision Tree: A visual representation of decision points and possible

outcomes used to analyze and make decisions. For example, creating a
decision tree to determine the best pricing strategy based on factors
like cost, competition, and market demand.

Gap Analysis: Identifying the gaps or discrepancies between the current

state and the desired future state. For example, comparing existing
employee skills to the skills required for a new project.

Key Performance Indicator (KPI): A measurable metric used to evaluate

the performance and progress towards achieving business objectives.
For example, tracking customer satisfaction scores or average response
time.

Lean Six Sigma: A methodology that combines Lean principles for waste
reduction with Six Sigma's focus on process improvement and quality
control. For example, using Lean Six Sigma to streamline manufacturing
processes and minimize defects.

MoSCoW Prioritization: A technique used to prioritize requirements

into four categories: Must-have, Should-have, Could-have, and Won't-
have. For example, categorizing features in a software development
project based on their importance and urgency.

Pareto Analysis: A technique used to identify the most significant

factors contributing to a problem or outcome. For example, using the
80/20 rule to determine that 80% of customer complaints come from
20% of the product features.

Process Flow Diagram: A visual representation of the steps, decisions,

and interactions involved in a business process. For example, mapping
out the steps involved in the order fulfillment process from receiving an
order to shipment.

Project Scope: The boundaries and deliverables of a project, including

what is included and excluded. For example, defining the scope of a
website development project by specifying the number of pages,
functionality, and design requirements.

Requirements Elicitation: The process of gathering and capturing

stakeholder needs and expectations for a project. For example,
conducting interviews, workshops, or surveys to understand user
requirements.

Risk Analysis: Identifying and assessing potential risks that could impact
the success of a project or organization. For example, conducting a risk
analysis to identify and mitigate potential cybersecurity threats.
Root Cause Analysis: A systematic process of identifying the underlying
causes of a problem or issue. For example, using the 5 Whys technique
to determine why a product defect occurred.

Stakeholder: Individuals or groups with an interest or involvement in a

project or organization. For example, stakeholders may include
customers, employees, suppliers, and shareholders.

SWOT Analysis: Assessing an organization's strengths, weaknesses,

opportunities, and threats to formulate strategies. For example,
analyzing a company's strengths in brand reputation, weaknesses in
outdated technology, opportunities in emerging markets, and threats
from competitors.

User Acceptance Testing (UAT): Testing performed by end-users to

ensure that a system or product meets their needs and requirements.
For example, allowing customers to test a new mobile app before its
official release.

Use Case: A description of a specific interaction between a user (actor)

and a system, outlining the steps and expected outcomes. For example,
a use case for an e-commerce website could be the process of adding
items to a shopping cart and checking out.
Value Stream Mapping: A visual representation of the steps and
activities involved in delivering a product or service to customers. For
example, mapping out the steps from order placement to product
delivery in an online retail business.

Vendor Selection: The process of evaluating and choosing suppliers or

vendors based on criteria such as price, quality, and reliability. For
example, conducting a vendor selection process to choose a software
development company for a project.

Waterfall Model: A sequential project management approach where

each phase is completed before moving to the next. For example,
following a waterfall model for software development with distinct
phases like requirements gathering, design, development, testing, and
deployment.

Acceptance Testing: Testing performed to determine if a system meets

the specified requirements and is ready for production use. For
example, conducting acceptance testing to ensure that a new
accounting software accurately calculates financial statements.

Backward Compatibility: The ability of a new system or version to work

with data or processes from previous versions without issues. For
example, ensuring that a software update is backward compatible,
allowing users to open and edit files created in older versions.
Business Case: A document that justifies the investment in a project by
outlining its expected benefits, costs, and risks. For example, creating a
business case to support the implementation of a new customer
relationship management (CRM) system.

Business Intelligence (BI): The process of collecting, analyzing, and

presenting data to support business decision-making. For example,
using business intelligence tools to generate reports and dashboards
that provide insights into sales performance.

Business Process Reengineering (BPR): Redesigning and improving

business processes to achieve significant improvements in efficiency
and effectiveness. For example, reengineering a manual paper-based
invoice processing system to an automated electronic system.

Capability Maturity Model Integration (CMMI): A framework that

measures the maturity level of an organization's processes and
provides guidance for improvement. For example, using CMMI to
assess an IT company's software development processes.

Cause-and-Effect Diagram (Fishbone Diagram): A visual tool used to

identify and explore the potential causes of a problem or issue. For
example, creating a cause-and-effect diagram to determine the
possible causes of low employee morale.

Change Request: A formal document requesting a change to the scope,

requirements, or other aspects of a project. For example, submitting a
change request to add additional functionality to a software
application.

Continuous Integration: A software development practice where code

changes are frequently integrated and tested to detect issues early. For
example, using continuous integration tools to automatically build and
test code changes made by different developers.

Cost of Delay (CoD): The financial impact of delaying the delivery of a

project or product. For example, calculating the cost of delay for a
software project that is delayed by one month due to missed market
opportunities.

Critical Path Analysis: Identifying the sequence of activities that

determines the shortest possible duration for completing a project. For
example, using critical path analysis to determine the most time-critical
activities in a construction project.

Data Cleansing: The process of identifying and correcting errors,

inconsistencies, or inaccuracies in a dataset. For example, removing
duplicate customer records or correcting misspelled names in a
customer database.

Decision Matrix: A tool used to evaluate and compare different options

based on multiple criteria. For example, creating a decision matrix to
compare and rank potential suppliers based on factors such as price,
quality, and delivery time.
Dependency: A relationship between two tasks or activities where the
completion of one depends on the completion of another. For example,
a website design task may depend on the completion of the logo design
task.

Earned Value Management (EVM): A project management technique

that measures project performance by comparing the value of work
completed to the planned value. For example, calculating the earned
value of completed tasks and comparing it to the planned value to
assess project progress.

Feasibility Study: An assessment of the practicality and viability of a

project, considering factors such as technical, economic, and
organizational feasibility. For example, conducting a feasibility study to
determine if building a new manufacturing facility is financially viable.

Functional Requirements: Specific actions, features, or capabilities that

a system or product must perform. For example, functional
requirements for a customer relationship management (CRM) system
could include contact management, lead tracking, and reporting
functionalities.

Gap-Fit Analysis: Comparing the functional requirements of a system to

its existing capabilities to identify gaps and determine the effort
required to fulfill those requirements. For example, conducting a gap-fit
analysis to determine the modifications needed to implement a new
software module.

Incremental Delivery: A software development approach where

functionality is delivered in small increments or iterations. For example,
using the agile methodology to release a minimal viable product (MVP)
with essential features and then adding additional features in
subsequent iterations.

Integration Testing: Testing performed to verify the interactions and

interfaces between different components or systems. For example,
conducting integration testing to ensure that a customer relationship
management (CRM) system integrates properly with the email
marketing software.

Key Risk Indicator (KRI): A metric or measurement that indicates the

level of risk in a project or organization. For example, tracking the
number of cybersecurity incidents as a key risk indicator for an e-
commerce platform.

Lessons Learned: Insights, experiences, and best practices gained from

previous projects or activities to improve future performance. For
example, conducting a lessons learned session after the completion of a
project to identify areas for improvement.

Minimum Viable Product (MVP): A version of a product with the

minimum set of features required to meet customer needs and validate
the idea. For example, developing an MVP for a mobile app with basic
functionality to test user acceptance and gather feedback.

Non-Functional Requirements: Requirements that specify the qualities

and characteristics of a system or product, such as performance,
security, usability, or scalability. For example, non-functional
requirements for a web application may include response time, data
encryption, and user interface design.

Opportunity Cost: The potential benefits or opportunities that are

forgone when choosing one option over another. For example, when
allocating resources to a new project, the opportunity cost is the
revenue that could have been generated by alternative projects.

Pareto Chart: A bar chart that visualizes data in descending order of

importance, highlighting the most significant factors. For example,
using a Pareto chart to show the top sources of customer complaints
based on frequency.

Product Backlog: A prioritized list of features, enhancements, and bugs

to be addressed in a product development project. For example, a
product backlog in software development contains user stories, bugs,
and improvement requests.

Product Owner: The person responsible for defining and prioritizing the
product backlog and ensuring that the product meets customer
requirements. For example, the product owner in a software
development team collaborates with stakeholders to prioritize and
communicate product features.

Project Charter: A document that formally authorizes the initiation of a

project and provides high-level information about its objectives, scope,
and stakeholders. For example, a project charter for a construction
project outlines the project goals, timelines, and budget.

Quality Assurance (QA): The process of ensuring that a product or

service meets specified quality standards. For example, conducting QA
testing to verify that a software application functions correctly and
meets user requirements.

Requirement Traceability Matrix: A matrix that links requirements to

their origin and tracks their implementation throughout the project
lifecycle. For example, using a requirement traceability matrix to ensure
that each user requirement has been addressed in the design,
development, and testing phases.

Return on Investment (ROI): A measure of the profitability or financial

gain from an investment, calculated by dividing the net profit by the
cost of investment. For example, calculating the ROI of implementing a
new marketing campaign by comparing the revenue generated to the
campaign cost.

Root Cause: The fundamental reason or underlying factor that

contributes to a problem or issue. For example, the root cause of low
customer satisfaction may be poor product quality or inadequate
customer service.

Scrum: An agile project management framework characterized by short

iterative development cycles called sprints, with regular team
collaboration and frequent feedback. For example, a software
development team using Scrum holds daily stand-up meetings and
conducts sprint planning and reviews.

Scope Creep: The uncontrolled expansion or addition of features,

requirements, or deliverables beyond the original scope of a project.
For example, a software development project that continuously adds
new features without proper change management.

Stakeholder Analysis: Identifying and assessing the interests,

expectations, and influence of stakeholders to effectively manage their
involvement in a project or organization. For example, analyzing the
power and interest of stakeholders to determine their level of
influence.

Story Points: A relative measure used in agile project management to

estimate the effort or complexity of user stories or tasks. For example,
using a Fibonacci sequence (1, 2, 3, 5, 8) to assign story points to user
stories, with higher points indicating higher complexity.

SWOT Analysis: An evaluation of an organization's internal strengths

and weaknesses, as well as external opportunities and threats. For
example, conducting a SWOT analysis to assess a company's strengths
in product innovation, weaknesses in supply chain management,
opportunities in emerging markets, and threats from competitors.

System Requirements: Detailed specifications and characteristics that

define how a system should function and interact with its environment.
For example, system requirements for an e-commerce website may
include payment processing, inventory management, and user
authentication.

Traceability: The ability to track and link requirements, design,

implementation, and testing artifacts throughout the project lifecycle.
For example, ensuring that each software feature or functionality can
be traced back to the user requirement that originated it.

User Persona: A fictional representation of a specific user or customer

segment that helps in understanding their needs, goals, behaviors, and
preferences. For example, creating a user persona for a mobile banking
app's target user, including their demographics, banking habits, and
technological proficiency.

User Story: A brief description of a user's requirement, written from the

user's perspective, often following a specific template (As a [user], I
want [goal] so that [reason]). For example, "As a customer, I want to be
able to track the status of my order so that I know when it will be
delivered."
Value Proposition: The unique value or benefit that a product or service
provides to customers, differentiating it from competitors. For
example, a value proposition for a meal delivery service could be
convenience, variety, and time-saving.

Validation: The process of ensuring that a system or product meets the

specified requirements and satisfies the needs of the stakeholders. For
example, validating a software application by conducting user
acceptance testing and confirming that it functions as intended.

Verification: The process of reviewing and evaluating documents,

models, or plans to ensure they meet specified requirements and
standards. For example, verifying that the design specifications of a
product align with the customer's requirements.

Work Breakdown Structure (WBS): A hierarchical breakdown of project

deliverables and tasks, organizing them into manageable work
packages. For example, breaking down a construction project into work
packages such as foundation, electrical wiring, plumbing, and finishing.

Business Process Improvement (BPI): The systematic approach of

analyzing and enhancing existing processes to achieve better efficiency,
quality, or customer satisfaction. For example, using BPI techniques to
streamline the order fulfillment process and reduce lead times.

Business Rules Management System (BRMS): A software system that

enables the capture, management, and execution of business rules in a
consistent and automated manner. For example, using a BRMS to
enforce compliance rules in an insurance claims processing system.

Capability Gap: The difference between the current capabilities of an

organization and the desired future capabilities. For example,
identifying the skills and technology gaps between the current state
and the desired state of an IT department.

Change Control: The formal process of managing and controlling

changes to project scope, requirements, or other project aspects. For
example, establishing a change control board to review and approve or
reject proposed changes.

Conceptual Data Model: A high-level representation of the entities,

relationships, and attributes in a domain, focusing on the overall
structure and concepts rather than specific implementation details. For
example, a conceptual data model for a human resources system would
include entities like employees, departments, and positions.

Cross-Functional Team: A team composed of individuals from different

functional areas or departments who collaborate to achieve a common
goal. For example, forming a cross-functional team with members from
sales, marketing, and operations to launch a new product.

Data Migration: The process of transferring data from one system or

format to another, ensuring its integrity and consistency. For example,
migrating customer data from an old CRM system to a new CRM
system.

Decision Support System (DSS): An interactive computer-based system

that helps in analyzing complex problems and supporting decision-
making processes. For example, using a decision support system to
analyze sales data and identify trends and patterns.

Domain Knowledge: Expertise and understanding of a specific industry,

subject area, or business domain. For example, a business analyst
working in the healthcare domain would possess knowledge of
healthcare regulations, processes, and terminology.

Feasibility Analysis: Assessing the practicality and viability of a project

or solution in terms of technical, economic, legal, and operational
factors. For example, conducting a feasibility analysis to determine if
implementing a new IT infrastructure is technically and financially
feasible.

Functional Decomposition: Breaking down a complex system or process

into smaller, more manageable functions or components. For example,
decomposing a payroll system into functions such as employee data
management, time tracking, and salary calculation.

Gap Analysis: Identifying the gaps or differences between the current

state and the desired future state in terms of processes, capabilities, or
performance. For example, conducting a gap analysis to identify the
missing skills or resources required to implement a new business
strategy.

Information System: A collection of hardware, software, data, people,

and procedures that work together to process, store, and disseminate
information within an organization. For example, an enterprise
resource planning (ERP) system that integrates various business
functions like finance, HR, and inventory management.

Key Performance Indicator (KPI): A measurable metric used to evaluate

the performance or success of an organization, project, or process. For
example, a KPI for a customer service team could be the average
response time to customer inquiries.

Lessons Learned Repository: A centralized repository or database that

captures and stores lessons learned from previous projects for future
reference and improvement. For example, maintaining a lessons
learned repository to document best practices, challenges, and
solutions.

Market Analysis: An assessment of market conditions, trends,

competition, and customer needs to support business decision-making.
For example, conducting market analysis to identify target customer
segments and pricing strategies for a new product.

Operational Efficiency: The ability of an organization to optimize its

processes, resources, and activities to achieve maximum productivity
and minimize waste. For example, implementing lean manufacturing
principles to improve operational efficiency in a production facility.

Process Mapping: Visual representation of a process, illustrating its

steps, inputs, outputs, and interactions with stakeholders or systems.
For example, creating a process map to document the steps involved in
onboarding a new employee.

Project Management Office (PMO): An organizational unit or function

responsible for standardizing and improving project management
practices across an organization. For example, a PMO may establish
project management methodologies, provide project management
training, and monitor project performance.

Quality Control: The process of monitoring and inspecting products,

services, or processes to ensure that they meet specified quality
standards. For example, conducting quality control checks on
manufactured products to verify compliance with design specifications.

Regression Testing: Testing performed to ensure that changes or

updates to a system or software do not unintentionally introduce new
defects or negatively impact existing functionality. For example,
conducting regression testing after implementing software updates to
verify that previously working features still function correctly.

Request for Proposal (RFP): A document that outlines the requirements

and specifications for a project or procurement, soliciting proposals
from potential vendors or contractors. For example, issuing an RFP to
select a software development company for a custom application.

Risk Mitigation: The process of implementing strategies and actions to

reduce or eliminate the likelihood or impact of potential risks. For
example, mitigating the risk of a data breach by implementing
encryption, access controls, and regular security audits.

Scalability: The ability of a system, process, or infrastructure to handle

increased workload or demand without significant performance
degradation. For example, designing a scalable cloud infrastructure that
can accommodate increased user traffic during peak periods.

Stakeholder Engagement: The process of actively involving and

communicating with stakeholders to understand their needs, address
concerns, and build relationships. For example, conducting stakeholder
workshops, interviews, or surveys to gather feedback and ensure
alignment.

System Integration: The process of combining different subsystems or

components into a larger system and ensuring that they work together
seamlessly. For example, integrating a customer relationship
management (CRM) system with an accounting system to synchronize
customer data and transactions.

Use Case: A textual or graphical representation of a specific interaction

or scenario between a user and a system, describing the steps, inputs,
and expected outcomes. For example, a use case for an online shopping
system could be "Make a Purchase," outlining the steps from product
selection to payment.

User Acceptance Testing (UAT): Testing performed by end users or

stakeholders to validate that a system or product meets their
requirements and expectations. For example, conducting UAT by actual
customers to ensure that a new website interface is intuitive and
functional.

Vendor Evaluation: The process of assessing and selecting vendors or

suppliers based on criteria such as quality, price, reliability, and
capability to meet business requirements. For example, evaluating
different software vendors based on their product features, customer
support, and pricing models.

Agile Manifesto: A set of guiding principles for agile software

development, emphasizing flexibility, collaboration, and iterative
delivery. The Agile Manifesto values individuals and interactions,
working software, customer collaboration, and responding to change.

Backlog Refinement: The ongoing process of reviewing, prioritizing, and

adding detail to items in the product backlog. This helps ensure that the
backlog contains valuable, well-defined, and ready-to-be-implemented
items.
Burn-down Chart: A visual representation of work remaining versus
time in an agile project. It shows the progress of work completed and
remaining, helping the team track their pace and predict project
completion.

Burndown Rate: The rate at which work is being completed in an agile

project, often measured as the number of story points or tasks
completed per unit of time.

Continuous Delivery: A software development approach that

emphasizes frequent and automated deployment of working software
to production environments. It enables faster feedback, shorter release
cycles, and more reliable software releases.

Continuous Improvement: The ongoing effort to improve processes,

products, or services incrementally over time. It involves identifying
areas for improvement, implementing changes, and measuring the
impact.

Daily Scrum: A short daily meeting in agile development where team

members discuss progress, challenges, and plans. It promotes
transparency, alignment, and collaboration within the team.

Definition of Done (DoD): A set of criteria or standards that must be

met for a product backlog item or user story to be considered
complete. It ensures that the team delivers work that meets the
desired quality and meets the definition of "done."
DevOps: A cultural and operational approach that emphasizes
collaboration, communication, and integration between development
and operations teams. It aims to deliver software more quickly, reliably,
and efficiently.

Empathy Mapping: A technique used to gain a deeper understanding of

users or stakeholders by empathizing with their needs, emotions, and
behaviors. It helps in developing user-centered solutions and improving
user experiences.

Epics: Large and high-level user stories that are often too big to be
completed in a single iteration. They are typically broken down into
smaller, more manageable user stories during backlog refinement.

Feature Creep: The gradual and uncontrolled expansion of features or

requirements beyond what was originally planned or agreed upon. It
can lead to scope creep and negatively impact project timelines and
budgets.

Increment: A deliverable, working piece of software produced in an

agile project during a specific timebox or iteration. It provides tangible
value and can be potentially released or demonstrated to stakeholders.

Iteration: A timeboxed period in an agile project during which a set of

user stories or backlog items are planned, developed, tested, and
delivered. It usually lasts one to four weeks, depending on the team's
approach.

Minimum Marketable Feature (MMF): The smallest set of functionality

or features that deliver value to customers and can be released
independently. It focuses on providing the most valuable capabilities to
customers early on.

Pair Programming: A software development practice where two

programmers work together at one workstation. One acts as the
"driver" who writes code, while the other serves as the "navigator" who
reviews and provides input.

Planning Poker: A collaborative technique used in agile estimation,

where team members assign story points to user stories based on their
complexity and effort. It facilitates discussion and ensures shared
understanding of work effort.

Product Increment: The sum of all completed and integrated backlog

items or user stories at the end of an iteration or sprint. It represents
tangible progress towards achieving the product vision.

Refactoring: The process of restructuring existing code or software

without changing its external behavior. It aims to improve code quality,
maintainability, and performance.
Release Planning: The process of determining which user stories or
backlog items will be included in a particular software release. It
involves prioritizing features, estimating effort, and considering
dependencies.

Retrospective: A team meeting held at the end of an iteration or project

to reflect on what went well, what could be improved, and how to
implement those improvements. It helps in continuous learning and
team self-improvement.

Scrum Master: The facilitator and servant-leader of a scrum team,

responsible for ensuring adherence to agile principles, removing
obstacles, and fostering a productive and collaborative environment.

Sprint Backlog: The set of user stories, tasks, or backlog items that the
team commits to delivering within a specific sprint. It is derived from
the product backlog and is the team's focus for the sprint.

Sprint Planning: A collaborative meeting where the scrum team

determines which backlog items to work on in the upcoming sprint and
defines a plan for achieving the sprint goal.

Sprint Review: A meeting held at the end of a sprint where the team
demonstrates the completed work to stakeholders and collects
feedback. It provides an opportunity to gather insights and make
adjustments to the product backlog.
Storyboarding: A visual technique used to illustrate and sequence user
interactions or scenarios. It helps in understanding user journeys,
designing user interfaces, and identifying potential gaps or
improvements.

Test-Driven Development (TDD): A software development approach

where tests are written before the code. It ensures that code meets
specified requirements and helps in creating more reliable and
maintainable software.

User Experience (UX): The overall experience and satisfaction that a

user has while interacting with a product, system, or service. It
encompasses usability, accessibility, aesthetics, and emotional aspects.

Velocity: A measure of the amount of work completed by a team in an

iteration or sprint. It is often expressed in story points or other relative
units and helps in estimating future work capacity.

Waterfall Model: A traditional software development approach where

project phases (requirements, design, implementation, testing,
deployment) follow a sequential and linear flow. It is characterized by
extensive upfront planning and minimal customer involvement during
development.
Wireframe: A basic visual representation or blueprint that outlines the
structure, layout, and content of a user interface or webpage. It helps
in visualizing and communicating design concepts before detailed
design or development.

Acceptance Criteria: Specific conditions or requirements that must be

met for a user story or feature to be considered complete and accepted
by stakeholders. They provide clarity and shared understanding of
expected outcomes.

Business Intelligence (BI): Technologies, tools, and processes used for

analyzing and transforming raw data into meaningful insights to
support business decision-making. It involves data gathering, data
modeling, data analysis, and reporting.

Cloud Computing: The delivery of computing resources (such as servers,

storage, databases, software, and analytics) over the internet on-
demand. It provides scalability, flexibility, and cost-efficiency for
businesses.

Data Governance: The management and control of data assets within

an organization. It includes defining data policies, standards, and
guidelines to ensure data quality, privacy, security, and compliance.

Decision Tree: A graphical representation of decisions and their

potential consequences or outcomes. It is used in decision analysis to
analyze choices, risks, and probabilities.
Machine Learning: A subset of artificial intelligence (AI) that enables
systems or algorithms to learn and improve from data without explicit
programming. It is used for pattern recognition, prediction, and
automated decision-making.

Minimum Viable Product (MVP): The most basic version of a product or

feature that delivers sufficient value to meet customer needs and
validate assumptions. It helps in gathering user feedback and iterating
on the product.

Natural Language Processing (NLP): The field of AI that focuses on the

interaction between computers and human language. It enables
machines to understand, interpret, and generate human language,
facilitating tasks like text analysis and chatbots.

Root Cause Analysis: A problem-solving technique used to identify the

underlying causes or factors contributing to a specific issue or
undesirable outcome. It helps in addressing the root cause rather than
just treating symptoms.

Stakeholder Analysis: The process of identifying, assessing, and

understanding the interests, needs, and influence of stakeholders in a
project or organization. It guides stakeholder engagement and
communication strategies.
Value Stream Mapping: A visual tool used to analyze and optimize the
flow of materials, information, and activities required to deliver a
product or service to customers. It helps in identifying bottlenecks and
waste in processes.

Virtual Reality (VR): A computer-generated simulation or immersive

experience that replicates an environment or situation. It is typically
experienced through headsets or devices and has applications in
gaming, training, and visualization.

Business Case: A document or justification that outlines the rationale,

benefits, costs, and risks of a proposed project or investment. It helps
stakeholders make informed decisions about resource allocation and
feasibility.

Customer Relationship Management (CRM): A strategy, approach, or

software system used to manage and nurture relationships with
customers. It involves capturing customer data, tracking interactions,
and improving customer satisfaction and loyalty.