Have a look at the definitions of some of the most common 'cloud' and 'software' terms, mentioned in the business world.

1. BUSINESS TECH
TERMS DEFINED
A means of storing & processing a company's data. Rather than housing the
data on a customer’s servers (on-site), it is housed in a network of servers in a
secure Data Centre; therefore the data is accessed remotely (over the Internet)
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'CLOUD' Terms
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Cloud Computing:
Public Cloud: Multi-tenant environment; this form of cloud computing relies entirely on a
Service Provider; all services (servers, data storage and applications) are
delivered via the Internet
Private Cloud: Single-tenant environment or “cloud computing at home”; it is a cloud
computing platform that is implemented within the company’s firewall,
giving them greater control over the data and its security; has same features
as a public cloud
Hybrid Cloud: An integrated cloud service (combination of private and public clouds) where
some applications or resources are provided and managed on-premises and
others externally (in a public cloud)
On-Premise: Traditional way of delivering IT services; when a company chooses to have
their own server room to host all their IT equipment, that is typically managed
by their own in-house IT staff (can also be managed by an outsourced IT team)
Off-Premise: (Or off-premise hosting environment); delivering IT services off-site, where
IT services are managed by a Third Party Provider and servers and hardware is
leased by this provider
Data Centre:
SaaS:
Managed Hosting:
Application Hosting:
A secure facility that houses servers and telecommunications equipment.
When speaking about “cloud hosting”, these Data Centres are the homes of
these cloud services
Software as a Service; This is a software distribution model where an
application is provided to a customer on a subscription basis, as the software
is hosted by the Service Provider and is not owned by the customer. Typically,
the software application is provided over a network (Internet)
When a Service Provider leases servers and required associated hardware to a
customer. It is monitored and maintained by the Service Provider and all
hardware is at the provider’s facility
When a business moves their software to an off-premise hosting
environment (usually to the cloud)
'SOFTWARE' Terms
ERP: Enterprise Resource Planning; a fully integrated business process
management software suite. It allows users to view, manage and track core
business processes and resources using one single database
BI: Business Intelligence; a performance optimization software that aims to
produce detailed analyses with the help of customized drillable dashboards.
BI provides immediate access to relevant and timely business information
(through visualizations & reports)
Implementation:
IT Consulting:
Integrated Software:
eCommerce:
WMS:
The process of installing and configuring software; this phase includes many
steps such as business process re-assessment, system testing, user-training
and support
Consulting services provided by an outside organization/consultant to advise
business executives or IT managers on appropriate strategies and solutions
to bring efficiency into the company through technologies.
A collection of computer programs (modules like accounting, purchases,
sales, inventory management, sales forecasting, EDI & more) which share
one database
Website used to make commercial transactions electronically over the
Internet; in other words, an online store to sell products and services
Warehouse Management System; a software application to manage
warehouse operations (track inventory, shipping, receiving, stock locations,
picking, etc.)