Metaverse is a kombination of the words meta and universe. Meta loosely translated stands for the next level/the next dimension and universe for the totality of space, time, matter and energy. But in fact, this is not an astrophysical concept, but the future of the...
What does sustainability even mean in times of digital change? The fact, there are many definitions, numerous discussions, and the world probably agrees that we will not come to a consensus on this topic. The Sustainable Development Goals (SDGs) were published back in...
Forecastings or prognoses are nothing else than predictions on certain target variables, other operationally relevant influencing variables or economic variables to improve planning. These are based on past and current data that are methodically analyzed and linked....
Hyperledger is another blockchain platform. This platform focuses less on digital currencies and more on open source blockchain approaches and tools for collaborative further development by the community. The project was founded in 2015 by the Linux Foundation and has...
Gas? That's what we use for heating! That's true, but the term has taken on another meaning through blockchainplatforms Transactions on the Ethereumnetwork incur fees, and this is the so-called gas price, as gas is the fuel for transactions. Gas is therefore not used...
Ethereum is a blockchain platform on which smart contracts can be executed. The cryptocurrency on this platform is Ether. All transactions on the platform incur fees, which are expressed in gas(-prices) and in the unit Gwei. Ethereum was developed back in 2015 and has...
Cloud computing is a technical term that is often referred to as "the cloud" in everyday language. In principle, it all revolves around the provision of computer resources such as servers, storage, databases, network components or software via the Internet. Instead of...
SCRUM is a process model of project and product management and was originally used primarily in agile software development. Over the years, the model has found its way into many business areas and is now used in the implementation of numerous projects and...
The model of "agile working" describes a modern and open working environment. The basic prerequisites for successful implementation are employees working on their own responsibility, transparent communication, a clear mission statement for orientation, open feedback...
Open Innovation stands for an open innovation process. Instead of innovating internally within the company or organization, external stakeholders from the innovation ecosystem and beyond are involved. Stakeholders include, for example, customers, research institutes...
The term ecosystem comes from the natural sciences and describes a community of different organisms in interaction and their environment or habitat. In the recent past, however, the term has also been widely used in business. In the sense of an innovation ecosystem,...
Business intelligence is a term that has undergone multiple transformations since the 1960s. Sixty years ago, it stood for a system that enabled the sharing of information across the entire company. In the age of digitalization and on the way to smart factories or the...
At its core, the term Big Data describes an enormous amount of structured and/or unstructured data that is too large, too complex, or too fast-moving to examine using simple or manual analysis techniques. However, the term has been used in a variety of ways in recent...
Data mining is the process of systematically examining and analyzing large amounts of data to identify patterns, trends, and relationships. Since this involves Big Data, statistical and computer-aided methods are used to process the data and extract insights. In...
Machine learning is a subarea of artificial intelligence (AI). It enables IT systems to recognize patterns and regularities on the basis of existing data and to develop solutions automatically. Software can therefore learn independently and find solutions without...
The term "Open Source (OS)" is familiar to many in the sense of software. It refers to programmed code that is publicly accessible and can thus be viewed, modified or extended by anyone. The underlying principle is community-based. The software is not produced by just...
In simple terms, a wallet is software that is used within the framework of blockchain technology. Wallet in this case literally refers to a wallet or purse, and this is basically where the name comes from. Initially, a wallet was used to store digital currencies...
The term "node" has long existed in computer science or even in medicine, but in recent months and years it has appeared significantly more frequently in the context of blockchain. Any computer, device, or even person that is connected to the network is considered a...
Ideation describes the process of finding ideas. As developing creatively, generating and working out ideas is actually a process, it takes place systematically and is thus a learnable thought pattern. The so-called "flash of inspiration" does not happen by chance,...
In the blockchain-based handling of processes, a token stands for a piece of information, a document or a specific company asset. It is stored digitally and managed by a wallet or a token manager. Numerous use cases can be found in logistics, such as the safekeeping...
Basic components - a term that sounds very cryptic and general at first. But what many people don't know is that behind it, there is the foundation for innovation and the infrastructure of the future (Platform Economy). Just as a computer is made up of many individual...
In the future, several providers will jointly provide a service and make it available to customers via a platform. This sounds like a dream of the future, especially when you consider that in the industry, a service was long regarded as a purely product-related and...
In most industries, sales are no longer generated by classic products; instead, the focus is on service. The sale of technical equipment is combined with maintenance services, for example. This combination of material and service components in conjunction with...
The term "social networked industry" is made up of two components. The first is networked industry and the second is the social network. A vision of factories without people often arises against the backdrop of a smart factory. In a social networked industry, however,...