Modernization: Making Sense of Commonly Used Terms
1. What are the stages of modernization?
The stages include traditional society, preconditions to takeoff, takeoff, drive to maturity, and age of high mass consumption. (Source: Study.com)
2. What is a modernization project?
Modernization project means an economic activity that is performed by a business to retool or upgrade production equipment to meet contemporary technology standards and that results in improving existing employees' job skills to enhance competitiveness for future growth and development. (Source: Law Insider)
3. What does application modernization mean?
Application modernization is the refactoring, re-purposing or consolidation of legacy software programming to align it more closely with current business needs. (Source: TechTarget)
3. What is modernization strategy (modernization strategies and benefits)?
Architecture Driven Modernization (ADM) is the initiative to standardize views of the existing systems in order to enable common modernization activities like code analysis and comprehension, and software transformation. (Source: wikipedia.com)
4. What are the benefits of modernization?
The benefits of operational change will promote better business practices, greater innovation, and provide a competitive advantage. Notably, companies that modernize will benefit from enhanced data analytics, better underwriting and management decisions, more efficient capital usage, and more attractive products. (Source: PwC)
5. What is digital modernization?
Digital Modernization is the practice of upgrading or adopting new technology systems, platforms and software solutions to meet the needs of today's organizations. (Source: Medium)
6. What does digital transformation mean?
Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how you operate and deliver value to customers. (Source: Enterpriseprojects.com)
7. What is meant by legacy application?
A legacy application (legacy app) is a software program that is outdated or obsolete. ... Typically, the challenge is to keep the legacy application running, while converting it to newer, more efficient code that makes use of current technology and programming languages. (Source: TechTarget)
8. What is an API used for?
An application program interface (API) is a set of routines, protocols, and tools for building software applications. Basically, an API specifies how software components should interact. Additionally, APIs are used when programming graphical user interface (GUI) components. (Source: Webopedia.com)
9. What is Microservices in simple words?
In short a microservices architecture is a term used to describe the practice of breaking up an application into a series of smaller, more specialised parts, each of which communicate with one another across common interfaces such as APIs and REST interfaces like HTTP. (Source: ComputerWorld.com)
10. Are Microservices just APIs?
Microservices are not the only way to implement an API, and indeed not all microservices expose APIs. API stands for “Application Programming Interface”. By definition, an API is an interface. ... APIs are used to expose the functionality of an application. (Source: developer.IBM.com)
11. What is the difference between monolithic and microservices?
Microservices has the partitioned database architecture. Deploying a microservices-based application is also more complex. A monolithic application is simply deployed on a set of identical servers behind a load balancer. In contrast, a microservice application typically consists of a large number of services. (Source: microservices.com)
12. Why are microservices better?
Microservices allow you to optimize resources. With microservices, multiple teams work on independent services, enabling you to deploy more quickly — and pivot more easily when you need to. The increased efficiency of microservices not only reduces infrastructure costs, it also minimizes downtime.