E-commerce Acronyms

Venturing into a new place or spending time with people who are different from us can often be difficult at first. That's because we need to interact with a new situation, and to do that, we need to find topics that both sides know about. The world of e-commerce is no different. You need to understand at least the basics of the language used in this virtual world. To enter the vast e-commerce market, you should be ready to communicate clearly and understand this language, which can often be quite technical. That's why we created this content to help you in a clear and easy-to-understand way. Here you'll find the acronyms most commonly used in this virtual world, so you can become part of this ever-growing community. An Open Source Platform is a platform with an open-source license. This means you'll have access to the store's source code and can freely customize and structure the website as you wish. This type of platform offers a wide range of possibilities for creating and developing your online store. Magento is one example of an open-source platform. A Proprietary Platform does not make its source code available to customers. This means that any desired customization or improvement must be approved by the company that developed it. If approved, the same company will implement the improvement, and this may involve additional costs. 00K e-business tools is an example of a proprietary platform. Today, most proprietary platforms use the SaaS model. SaaS (Software as a Service) refers to a website that offers an online service, so there's no need to install it on your computer. To use this model, you need to pay a monthly fee. Some companies charge based on fixed plans, while others use the CPV (cost per sale) model. With this model, you pay a minimum usage fee, and the platform also retains a percentage as your site makes sales. Vtex is a platform that uses this model. ERP (Enterprise Resource Planning or Integrated Management System) basically integrates all of a company's departments, ensuring the organization is managed effectively and administrative processes are automated. Using this system helps your company avoid potential human errors and rework, while also speeding up processes. KPL and ERPFlex are two prominent ERP system providers. KPI (Key Performance Indicator) is simply a way to measure the performance of a particular process by generating indicators and measuring results. API (Application Programming Interface) is a set of programming standards and instructions for accessing an application, connecting various functions on a website. Many platforms say they offer an integration API, which means they have an interface that allows information to be applied, queried, added, modified, and deleted between systems through specific calls. ROI (Return on Investment), as the name suggests, is the return you get on an investment. In other words, it's used to measure the return on an investment. To calculate ROI, simply perform this operation: acquired gain, minus (–) the investment amount, divided (÷) by the investment amount. When someone asks you about the Budget, know that they mean a company's periodic financial plan, which includes revenue, expenses, and cost variables, and defines a chart of accounts. Retargeting is an action that displays online banners based on your browsing history. It's used to bring back leads who did not complete a transaction on your website. Retargeting ads are specific, meaning they show products the user has searched for. Remarketing is the same kind of online banner campaign, targeting users who visited your website but did not complete a purchase. However, remarketing ads are generic, meaning they show not only the product you searched for, but also other products from your store. The conversion rate is the link between the number of visits to your website and the number of purchases those visits generate. This rate is very helpful for your strategies and planning, as it shows whether your efforts are working and what needs to be improved to attract more leads to your store. Google Analytics is a great tool for measuring this rate, provided it is configured and implemented correctly. When you start working with e-commerce platforms, you'll come across SKU (Stock Keeping Unit), a specific identifier for a product. In other words, it's a number that identifies the product and helps manage your online store's inventory. A/B testing is used when finalizing your online store. It involves creating two versions of the same page with different elements to find out which version delivers the most accurate and satisfactory results. A/B testing can also be used for marketing emails. This involves selecting a small portion of your contact list and sending them two different campaigns to get the desired result, such as finding the best time to send a campaign or the best subject to cover. In the world of e-commerce, B2B (Business-to-business) refers to commercial transactions between companies. In other words, one company sells its services to another company. If you want a detailed breakdown of your sales, your best-selling products, and the partners that send the most traffic to your store, UTM (Urchin Tracking Module) is the tool for you. By tagging URLs, you can find out where your customers are coming from and create more effective marketing strategies. CSS (Cascading Style Sheets) is the styling language used to present documents written in markup languages such as HTML. One benefit is that it separates a document's format from its content. When looking for security in online transactions, you'll come across SSL (Secure Sockets Layer), which consists of cryptographic security protocols for online communication, whether for email, web browsing, and so on. It allows the client and server to exchange information securely. For example, when visiting a web page, the client can ask the browser to confirm whether the certificate provided is trustworthy and valid, and whether it is associated with the website that sent it. FTP (File Transfer Protocol) is a reliable and fast way to transfer files. It's one of the most widely used methods on the internet. If someone asks you about an FTP server, it's simply a server that provides access to a hard drive or server over a computer network. You access it using a login and password. For your information, a Template is a preconfigured page that is updated through forms. When we talk about a Carousel, we mean the rotating images in an online store. BI (Business Intelligence) is the process of collecting, organizing, analyzing, sharing, and monitoring information to support business management. This is done using software such as ETL, Data Warehouse, OLAP tools, Data Mining, and so on. If you're asked about SEO (Search Engine Optimization) in a job interview or conversation, explain that it's a set of strategies for optimizing search engines, in other words, improving and expanding a website or online store's ranking in search results. Finally, there's TAG Manager (tag manager), which lets you easily and freely add or update tags on your website or mobile app. This makes it easier to find out which pages on your website have been viewed, by whom, when, and for how long. The world of e-commerce is vast, so keep learning and deepening your knowledge.