The fourth industrial revolution glossarium: over 1500 of the hottest terms you will use to create the future. Textbook

«B»

B2B E-commerce refers to an online store for businesses. Normally, B2B (business-to-business) e-commerce is understood as an ordering system. The difference to a B2C online store targeting consumers is, for example, the requirement to identify the buyer through registering and the need to provide different billing options (such as invoicing)¹¹².

B2C (business-to-consumer) E-commerce is a form of online commerce colloquially known as online shopping. B2C e-commerce refers to an online service that provides consumers with goods to purchase¹¹³.

B2D (business-to-developer) marketing is an operational model that aims to engage software developers directly and by doing so affect customer acquisition. B2D marketing is a method of the platform economy which typically provides APIs in as developer-friendly form as possible to enable their proactive deployment¹¹⁴.

B2D marketing is an operational model that aims to engage software developers directly and by doing so affect customer acquisition. B2D marketing is a method of the platform economy which typically provides APIs in as developer-friendly form as possible to enable their proactive deployment¹¹⁵.

Backhaul refers to the process of reporting event information from tagged assets related to things like movement, temperature, distress and so forth¹¹⁶.

Baldwin effect is the skills acquired by organisms during their life as a result of learning, after a certain number of generations, are recorded in the genome.

Bandwidth is the difference between the upper and lower frequencies in a continuous band of frequencies. It is typically measured in hertz, and depending on context, may specifically refer to passband bandwidth or baseband bandwidth. Passband bandwidth is the difference between the upper and lower cutoff frequencies of, for example, a band-pass filter, a communication channel, or a signal spectrum. Baseband bandwidth applies to a low-pass filter or baseband signal; the bandwidth is equal to its upper cutoff frequency. Bandwidth in hertz is a central concept in many fields, including electronics, information theory, digital communications, radio communications, signal processing, and spectroscopy and is one of the determinants of the capacity of a given communication channel. A key characteristic of bandwidth is that any band of a given width can carry the same amount of information, regardless of where that band is located in the frequency spectrum. Also, Bandwidth refers to the data throughput capacity of any communication channel. As bandwidth increases, more information per unit of time can pass through the channel¹¹⁷,¹¹⁸,¹¹⁹.

Bar coded medication administration (BCMA) is a hospital inventory control system that uses barcodes in the distribution of prescription medications with the goal of ensuring the patient is receiving the correct medication¹²⁰.

Bayesian classifier in machine learning is a family of simple probabilistic classifiers based on the use of the Bayes theorem and the «naive» assumption of the independence of the features of the objects being classified¹²¹.

Belief-desire-intention software model (BDI) is a software model developed for programming intelligent agents. Superficially characterized by the implementation of an agent’s beliefs, desires and intentions, it actually uses these concepts to solve a particular problem in agent programming. In essence, it provides a mechanism for separating the activity of selecting a plan (from a plan library or an external planner application) from the execution of currently active plans. Consequently, BDI agents are able to balance the time spent on deliberating about plans (choosing what to do) and executing those plans (doing it). A third activity, creating the plans in the first place (planning), is not within the scope of the model, and is left to the system designer and programmer¹²².

Benchmarking is a set of techniques that allow you to study the experience of competitors and implement best practices in your company.

Beta release is a term that refers to a phase in online service development in which the service is coming together functionality-wise but genuine user experiences are required before the service can be finished in a user-centered way. In online service development, the aim of the beta phase is to recognize both programming issues and usability-enhancing procedures. The beta phase is particularly often used in connection with online services and it can be either freely available (open beta) or restricted to a specific target group (closed beta)¹²³.

Bias is a systematic trend that causes differences between results and facts. Error exists in the numbers of the data analysis process, including the source of the data, the estimate chosen, and how the data is analyzed. Error can seriously affect the results, for example, when studying people’s shopping habits. If the sample size is not large enough, the results may not reflect the buying habits of all people. That is, there may be discrepancies between survey results and actual results.

Biased algorithm is systematic and repetitive errors in a computer system that lead to unfair results, such as one privilege persecuting groups of users over others. Also, sexist and racist algorithms.

Big Data analytics. As our world becomes digitized, vast quantities of data are generated and stored. This data holds hidden secrets that promise to revolutionize our understanding of the human condition. We need Big Data analytics to extract these insights¹²⁴.

Big Data is a term for sets of digital data whose large size, rate of increase or complexity requires significant computing power for processing and special software tools for analysis and presentation in the form of human-perceptible results. Also, Big Data refers to the collection, storage, sharing, searching, analyzing and presenting of enormous, unorganized and continuously growing masses of data with the help of statistics and information technology. As the Internet of Things and the Industrial Internet continue to spread, there is believed to be a growing demand for Big Data -related expertise. Big Data is a large amount of information about an organization (both structured and unstructured) that cannot be analyzed using traditional computing methods. Big Data in health refers to large routinely or automatically collected datasets which are electronically captured and stored. The data is reusable in the sense that it is multipurpose data. It involves the fusion and connection of existing databases for the purpose of improving health and health system performance. It does not refer to data collected for a specific study. Also, Big Data is data sets that are too large to be handled manually. Big Data must be analyzed by a computer, revealing patterns, associations between groups, or overall trends. Big Data also comes into systems in increasingly greater complexity, variety, volume, and velocity – and exponential increase over time¹²⁵,¹²⁶,¹²⁷,¹²⁸.

Binance Coin (BNB) is a utility cryptocurrency that operates as a payment method for the fees associated with trading on the Binance Exchange. It is the third-largest cryptocurrency by market capitalization.10 Those who use the token as a means of payment for the exchange can trade at a discount. Binance Coin’s blockchain is also the platform on which Binance’s decentralized exchange operates. The Binance Exchange was founded by Changpeng Zhao and is one of the most widely used exchanges in the world based on trading volumes¹²⁹.

Binance USD (BUSD) was created by the cryptocurrency exchange Binance as a stablecoin pegged to the U.S. dollar. The stablecoin was approved by the New York State Department of Financial Services; thus, it is also regulated¹³⁰.

Binary choice regression model is a regression model in which the dependent variable is dichotomous or binary. Dependent variable can take only two values and mean, for example, belonging to a particular group.

Binary format is any file format in which information is encoded in some format other than a standard character-encoding scheme. A file written in binary format contains information that is not displayable as characters. Software capable of understanding the particular binary format method of encoding information must be used to interpret the information in a binary-formatted file. Binary formats are often used to store more information in less space than possible in a character format file. They can also be searched and analyzed more quickly by appropriate software. A file written in binary format could store the number «7» as a binary number (instead of as a character) in as little as 3 bits (i.e., 111), but would more typically use 4 bits (i.e., 0111). Binary formats are not normally portable, however. Software program files are written in binary format. Examples of numeric data files distributed in binary format include the IBM-binary versions of the Center for Research in Security Prices files and the U.S. Department of Commerce’s National Trade Data Bank on CD-ROM. The International Monetary Fund distributes International Financial Statistics in a mixed-character format and binary (packed-decimal) format. SAS and SPSS store their system files in binary format¹³¹.

Binary number is a number written using binary notation which only uses zeros and ones. Example: Decimal number 7 in binary notation is: 111¹³².

Binary tree – a tree data structure in which each node has at most two children, which are referred to as the left child and the right child. A recursive definition using just set theory notions is that a (non-empty) binary tree is a tuple (L, S, R), where L and Rare binary trees or the empty set and S is a singleton set. Some authors allow the binary tree to be the empty set as well¹³³.

Bioconservatism (a portmanteau of biology and conservatism) is a stance of hesitancy and skepticism regarding radical technological advances, especially those that seek to modify or enhance the human condition. Bioconservatism is characterized by a belief that technological trends in today’s society risk compromising human dignity, and by opposition to movements and technologies including transhumanism, human genetic modification, «strong» artificial intelligence, and the technological singularity. Many bioconservatives also oppose the use of technologies such as life extension and preimplantation genetic screening¹³⁴,¹³⁵.

Biomedical informatics is the branch of health informatics that uses data to help clinicians, researchers and scientists improve human health and provide healthcare¹³⁶.

Biometrics is a system of recognizing people, by one or more physical or behavioral traits. In information technology, biometric data is used as a form of access ID management and access control¹³⁷.

Bio-Techno-System is a hybrid systems between biological systems and technical systems, by means of computer (science)¹³⁸.

Bit is the smallest unit of information that a computer can work with. Each bit is either a «1» or a «0». Often computers work with groups of bits rather than one bit at a time; the smallest group of bits a computer usually works with is a byte, which is 8 bits¹³⁹.

Bitcoin is a cryptocurrency, a virtual currency designed to act as money and a form of payment outside the control of any one person, group, or entity, and thus removing the need for third-party involvement in financial transactions. It is rewarded to blockchain miners for the work done to verify transactions and can be purchased on several exchanges¹⁴⁰.

Bitcoin mining is the process of creating new bitcoin by solving puzzles. It consists of computing systems equipped with specialized chips competing to solve mathematical puzzles. The first bitcoin miner (as these systems are called) to solve the puzzle is rewarded with bitcoin. The mining process also confirms transactions on the cryptocurrency’s network and makes them trustworthy¹⁴¹.

Blockchain is algorithms and protocols for decentralized storage and processing of transactions structured as a sequence of linked blocks without the possibility of their subsequent change. Also, Blockchain is used for cryptocurrency by using individual nodes that run a system for cryptocurrency exchanges. Exchanges of cryptocurrency are validated by miners. Miners validity is checked by other nodes for correctness. The use of blockchain technology reduces transaction times and fraud. Companies, such as Tesla, take cryptocurrency as a form of payment but do not accept all. In 2021, Tesla began accepting Bitcoin (BCH) then several months later stopped accepting due to environmental issues with mining of bitcoin. Tesla stopped accepting Bitcoin due to the environmental implications created by mining cryptocurrency. Cryptocurrency mining takes a substantial amount of electricity, generating a significant carbon footprint. Wit Bitcoin, there are several different types of crypto currencies including Ethereum (ETH), Litecoin (LTC), Cardano (ADA), Polkadot (DOT), Stellar (XLM), Dogecoin (DOGE), Biance Coin (BNB), Tether (USDT), Monero (XMR), with many more and a continuing amount of new currencies¹⁴².

Blockchain Technology refers to the way in which operators that don’t know each other can produce and maintain decentralized databases. The technology allows for the members of the chain trust each other even though they don’t know one another. The best-known blockchain technology application is the virtual currency Bitcoin¹⁴³,¹⁴⁴.

Blocking of personal data – temporary cessation of processing of personal data (except for cases where processing is necessary to clarify personal data).

Blog (a truncation of «weblog») is a discussion or informational website published on the World Wide Web consisting of discrete, often informal diary-style text entries (posts). Posts are typically displayed in reverse chronological order, so that the most recent post appears first, at the top of the web page¹⁴⁵.

Blogger is someone who writes regularly for an online journal or website. A political blogger might provide weekly commentary on current events¹⁴⁶.

Blogosphere is the social universe created by online individuals using web log publishing platforms. Simply put, the blogosphere is a slang term for all the blogs on the internet. The blogosphere is often compared to grassroots journalism in that each member is able to post on any topic that catches their personal interest. The blogosphere is a powerful social network in that many popular bloggers have an audience measured in thousands and, in some cases, millions. However, the blogosphere is also very diverse, so the it does not represent a unified social unit – even though some of the social sub-groups within the blogosphere are. Post-based messaging services like Twitter are often considered part of the blogosphere despite the shorter length of the posts¹⁴⁷.

Bluetooth Low Energy (BLE) also known as Bluetooth 4.0, this is a wireless, personal-area network with short-range and low-power consumption that allows for objects to transmit data¹⁴⁸.

Boolean neural network is an artificial neural network approach which only consists of Boolean neurons (and, or, not). Such an approach reduces the use of memory space and computation time. It can be implemented to the programmable circuits such as FPGA (Field-Programmable Gate Array or Integrated circuit).

Born-digital is a descriptor for information that is created in digital form, as opposed to digitized from analog sources¹⁴⁹.

Brain Migration is a movement of highly-skilled professionals involved in intellectual or creative work as well as of potential specialists such as students and trainees going abroad for more than a year¹⁵⁰.

Brain technology (Also self-learning know-how system) is a technology that employs the latest findings in neuroscience. The term was first introduced by the Artificial Intelligence Laboratory in Zurich, Switzerland, in the context of the ROBOY project. Brain Technology can be employed in robots, know-how management systems and any other application with self-learning capabilities. In particular, Brain Technology applications allow the visualization of the underlying learning architecture often coined as «know-how maps».

Brain—computer interface (BCI), sometimes called a brain—machine interface (BMI), is a direct communication pathway between the brain’s electrical activity and an external device, most commonly a computer or robotic limb. Research on brain—computer interface began in the 1970s by Jacques Vidal at the University of California, Los Angeles (UCLA) under a grant from the National Science Foundation, followed by a contract from DARPA. The Vidal’s 1973 paper marks the first appearance of the expression brain—computer interface in scientific literature¹⁵¹.

Brain-inspired computing is calculations on brain-like structures, brain-like calculations using the principles of the brain (see also neurocomputing, neuromorphic engineering).

Broadband refers to various high-capacity transmission technologies that transmit data, voice, and video across long distances and at high speeds. Common mediums of transmission include coaxial cables, fiber optic cables, and radio waves¹⁵².

Brownfield refers to an existing industrial system targeted for new functionalities with zero operational disruptions¹⁵³.

Building Information Modelling (BIM) is a digital representation of physical and functional characteristics of places. A BIM is a shared knowledge resource for information about a place forming a reliable basis for decisions during its life-cycle; defined as existing from earliest conception to demolition¹⁵⁴.

Business administration (also known as business management) is the administration of a commercial enterprise. It includes all aspects of overseeing and supervising business operations. From the point of view of management and leadership, it also covers fields that include office building administration, accounting, finance, designing, development, quality assurance, data analysis, sales, project management, information-technology management, research and development, and marketing¹⁵⁵.

Business Blog (b-blog) is a blog of published, informal online articles that are either included in a company’s internal communications system (intranet) or posted on the Internet for the public to read. Business blogs use a more personal tone than corporate websites and are primarily used for public relations purposes. A business blog may also be referred to as a corporate blog or corporate Web log¹⁵⁶.

Business Continuity – «Describes the processes and procedures an organization puts in place to ensure that essential functions can continue during and after a disaster.» A note regarding preservation: Backups vs Preservation: Disaster recovery strategies and backup systems are not sufficient to ensure survival and access to authentic digital resources over time. A backup is a short-term data recovery solution following loss or corruption and is fundamentally different to an electronic preservation archive¹⁵⁷.

Business Design is a modern business model conceptualization. Business design is closely related to service design and shares some of its principles but applies them to the business concept of the entire company. The central idea of business design is to alter business activities in a customer-oriented manner in order to create strong customer loyalty¹⁵⁸.

Business Innovation is an organization’s process for introducing new ideas, workflows, methodologies, services or products. Like IT innovation, which calls for using technology in new ways to create a more efficient and agile organization, business innovation should enable the achievement of goals across the entire organization, with sights set on accomplishing core business aims and initiatives. Innovation often begins with idea generation, wherein ideas are narrowed down during brainstorming sessions, after which leaders consider the business viability, feasibility and desirability of each idea¹⁵⁹.

Business Intelligence refers to the applications, technologies, and practices for collecting, analyzing, and integrating business data to support improved business decision-making¹⁶⁰.

Business management tools are all the systems, applications, controls, calculating solutions, methodologies, etc. used by organizations to be able to cope with changing markets, ensure a competitive position in them and improve business performance¹⁶¹.

Business mobility also known as enterprise mobility, is the growing trend of businesses to offer remote working options, allow the use of personal laptops and mobile devices for business purposes, and make use of cloud technology for data access. Business mobility recognizes a shift from the traditional central office business model¹⁶².

Business model canvas is a representation of how an organisation makes (or intends to make) money. Based on an extensive literature research and real-world experience we define a business model as consisting of nine building blocks that constitute the business model canvas: 1. The value proposition of what is offered to the market; 2. The segment (s) of clients that are addressed by the value proposition; 3. The communication and distribution channels to reach clients and offer them the value? proposition; 4. The relationships established with clients; 5. The key resources needed to make the business model possible; 6. The key activities necessary to implement the business model; 7. The key partners and their motivations to participate in the business model; 8. The revenue streams generated by the business model (constituting the revenue model); 9. The cost structure resulting from the business model¹⁶³.

Business model describes the rationale of how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts. The process of business model construction and modification is also called business model innovation and forms a part of business strategy. Also, Business model is a plan that identifies sources of revenue, the customer base, products, and details of financing. It simply tells how the business makes money¹⁶⁴,¹⁶⁵.

Business Payments Directory (BPD) is a system that enables online businesses to choose from a variety of trusted business payment vendors for whom they opt to contract out for managing their online sales payments and consumer purchases. Also known as an online payment’s directory¹⁶⁶.

Business to Business Gateway (B2B Gateway) is an access channel by which external systems, such as clinical information systems and registered repositories, interact with the My Health Record system¹⁶⁷.

Business Transaction in the context of electronic commerce, is any monetary transaction that is made between consumers or businesses via the Internet. Business transactions free up time when conducted online since each party does not need to be physically present in order to make the transaction¹⁶⁸.

Business use case is to describe, in technology free terminology, how a business process is used by people or systems external to the business to achieve their goals (composed from several definitions in the literature)¹⁶⁹.

Business Viewpoint is an architecture viewpoint used to describe the purpose of establishing an IoT system by encompassing a business’s vision, mission, values, and objectives¹⁷⁰.

Byte is eight bits. A byte is simply a chunk of 8 ones and zeros. For example: 01000001 is a byte. A computer often works with groups of bits rather than individual bits and the smallest group of bits that a computer usually works with is a byte. A byte is equal to one column in a file written in character format¹⁷¹.