- Term: a word or phrase used to describe a thing or to express a concept [1] Concept: an abstract idea. Concepts are expressed by terms. [1] Fact: Facts r...Term: a word or phrase used to describe a thing or to express a concept [1] Concept: an abstract idea. Concepts are expressed by terms. [1] Fact: Facts relate terms [2] Fact Type: a fact type is an association between two or more concepts Vocabulary: the body of words used in a particular language or in a particular sphere [1] Terminology: the body of terms used in a subject of study, profession, etc. [1] Fact Model: A fact model establishes the basis for shared operational business knowledge. [2] This model is usually graphical and can also be called the business object model or BOM.


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