CategoryGlossary

Porter’s Five Forces

P

Porter’s Five Forces is a framework for analysis of the competition that a business faces, and to assess the profitability of an industry.

Bargaining Power of SuppliersBargaining Power of BuyersThreat from Substitute ProductsThreat of New EntrantsIndustry Competitors

PESTLE

P

PESTLE is an acronym that is used to identify key external stimulus within an organisation. The acronym stands for:

Political (e.g. trade unions), Economic (competitors, interest rates), Societal (demographics social mobility), Technological (reduction of barriers to entry), Legal (regulation, employment law), Environmental (waste, going green).

SMART

S

SMART is an acronym for Specific, Measurable, Attainable, Realistic, Time-boxed. A method for ensuring goals or targets follow a formula.

MoSCoW

M

MoSCoW is a method of prioritisation used in business analysis and project management, which identifies features and components as one of the following: Must Have, Should Have, Could Have, Would Like to Have – in order to inform and align stakeholders and project teams as to the priorities of the project.

Business Entity Model

B

A Business Entity Model details the way in which a business’s entities interact with each other to achieve a specified business goal. The Business Entity Model can also detail the relationships between entities, and the attributes of an entity. Typically they will be modeled in UML.

Agile

A

Agile is a light-weight software development methodology / framework that focuses on iterative analysis, development, testing, and release cycles to continually deliver functioning pieces of software by self-organising / self-managed teams. There are various flavours of Agile development, including SCRUM, Lean, and XP. 

Content Management System (CMS)

C

CMS is an acronym for Content Management System which is an application – or series of linked components – that enables the creation, modification, deletion, publication and categorisation of digital content – text, video, image, audio – typically for publication on the web or on an intranet. Examples of popular CMS’s are: Drupal, Umbraco, WordPress. 

Bounce Rate

B

The bounce rate in web analytics is classified as the percentage of visitors to a website who only view one page and then leave. A simple calculation is if a website has 100 visitors and 50 viewed one page then left the site, the other 50 went on to view another page or more, then the bounce rate would be 50%.

Integrated Development Environment (IDE)

I

An IDE or Integrated Development Environment is a software suite that contains the tools for a developer to write and test software in a single interface. Popular IDEs include PHPStorm by Jetbrains, Eclipse, Sublime Text, Atom from Github, the infamous Dreamweaver and many, many more. 

BABOK

B

BABOK is the acronym for the Business Analysis Body of Knowledge (currently V3), which is the collective body of knowledge of the Business Analyst’s community, and documents the most widely accepted processes and procedures.