Convergence Futures - 4 : Terms
Let's take a quick look at some of the terms we'll be using today.
One of the terms discussed in today's lesson is ROI, which stands for return on investment. Organizations often calculate ROI to determine how long it will take for a product to pay for itself once savings kick in. For example, let's say I have a monthly electric bill of $200 (sigh... I've GOT to get the kids to stop leaving the lights on in EVERY room of the house...). However, I decide to buy special energy-saving light bulbs for $200 that bring my electric bill down to $150 a month. Now I'm saving $50 a month. It will would take me 4 months to see a return on the investment I made in the new bulbs.
Our next term is soft switch. A soft switch is a device used by carriers to migrate voice traffic onto an IP backbone or, in other words, their data infrastructure.
Our other term is the one I just mentioned: carrier. A carrier is a normally a telecommunications company, such as Verizon or AT&T, that provides voice and/or Internet service on a local or nationwide basis, whether it's commercial or residential in nature. The term "carrier" is used interchangeably with the term "service provider."