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V

VAT (Value Added Tax)

A charge added to most goods and services in the UK. The standard rate of VAT charged is currently 17.5%. However, the rate of VAT does sometimes change so it is important that it is easy to change this in your spreadsheet.

Validation

The process of checking that the data entered is reasonable or one of the expected options, e.g. that a person's age has not been entered as 200.

Verification

The process of checking that the data entered is accurate. The data could be valid but still inaccurate, e.g. someone could enter their age as 81 when they are really 18.

Viral marketing

A marketing strategy that encourages people to pass on a marketing message to their friends. It uses interesting and entertaining content that people will want to share. Viral marketing uses multimedia to make the message memorable.

Virus

A program designed to cause other programs on a computer to malfunction or stop working altogether.

VoIP (Voice over Internet Protocol)

This technology is used to make telephone calls via the Internet, usually at a cheaper cost.