WAND Business Glossaries
Business Glossaries are a critical ingredient to data catalog initiatives and for effective data analysis in an organization. A business glossary ensures that data elements are labeled correctly so accurate analysis can take place.
Now, WAND has taken our decades of experience building best-in-class taxonomies and applied this expertise to the challenge of providing high quality, pre-defined business glossaries. We capture the important measurable, trackable, and traceable elements that may be found in data tables and provide definitions for each.
WAND Business Glossaries can be imported into a wide variety of commercial business glossary and data catalog applications so you can quickly begin to gain insight from your data.
What is a Business Glossary and Why do I Need One?
A Business Glossary provides a company with a list of business-specific terms and their definitions. These lists help with A.I. training, assigning semantic context, and analyzing data. Having one source for finding key business terms, concepts, definitions, and the relationships between them is a vital part of any organization.
To illustrate the importance of having a unified set of terms and definitions, consider the word "customer". To some departments of the organization, this word may be used to refer to a company. Another department in the same organization may use the word "customer" to refer to an individual person. While there may be no issue with this word being defined in two separate manners, a problem arises when these two departments communicate and think they are referring to the same thing when in fact, they are talking about two completely different aspects of the business with the use of one word.
A Business Glossary removes the room for error in multiple uses of a word by providing a company-wide definition for the terms used in everyday business at the organization. No longer are there communication issues between departments when talking about their customers –– both the companies they service and the individuals with which they work.