Understanding PSI, BPM, and Other Terms Used in Business and Technical Fields
PSI (Pounds per Square Inch)
PSI is a unit of pressure commonly used in various industries, particularly in engineering and automotive fields.
- Definition and Scope: PSI measures the amount of pressure exerted per square inch of surface area, commonly used for tyre pressure, hydraulic systems, and industrial processes.
- Historical Use: The term 'pound per square inch' was first documented in the late 19th century, and has since become standard in engineering documentation and product specifications, ensuring consistency in pressure measurements.
BPM (Business Process Management)
BPM is a systematic approach to improving and optimising an organisation's processes.
- Definition and Scope: BPM involves analysing, modelling, and continuously improving business processes to enhance efficiency, reduce costs, and increase productivity.
- Historical Use: BPM emerged in the late 20th century as businesses began to embrace methodologies like Total Quality Management and Six Sigma, which prompted the formalisation of processes for continuous improvement.
Other Terms
API (Application Programming Interface)
An API allows different software applications to communicate with each other.
- Definition and Scope: APIs provide a set of rules and protocols for building and interacting with software applications, enabling integration and functionality enhancement.
- Historical Use: The concept of APIs dates back to the 1960s when early software shared routines; however, the term gained prominence with the rise of web services in the early 2000s.
IoT (Internet of Things)
The IoT refers to the interconnection of everyday devices to the internet, enabling data exchange and automation.
- Definition and Scope: This ecosystem includes numerous devices like smart home appliances, wearable technology, and industrial sensors that gather and share data via internet connectivity.
- Historical Use: The term 'Internet of Things' was popularised in 1999 by Kevin Ashton, signifying a shift in how devices interact with each other in real-time using internet connectivity.
CRM (Customer Relationship Management)
CRM systems facilitate the management of a company's interactions with current and potential customers.
- Definition and Scope: CRM encompasses strategies and software that help businesses improve relationships, streamline processes, and increase profitability through data analysis.
- Historical Use: The roots of CRM can be traced back to the 1980s, evolving from contact management systems and gaining traction with technological advancements in data analysis and sales forecasting.
