What Translation memory? Translation memory (Translation Memory) is defined by the Expert Advisory Group on Language Engineering standards (EAGLES) Evaluation Working Group’s document on the evaluation of natural language processing systems as “a multilingual text archive of aligned containing (segmented, aligned, parsed and classified) multilingual texts, allowing storage and retrieval of aligned multilingual text segments against various search conditions.”

            In other words, translation memory (also known as sentence memory) consists of a database that stores sources and target language pairs of text segments that can be retrieved for use with present texts and texts to be translated in the future.
            Many articles have been written about translation memory in the last few years. Most of the material is provided by the producers of translation memory systems and only covers a specific product or lists specific features of the technology. Some articles even magnify the negative aspects of translation memory. Despite all that has been written, not much has been said about the actual costs or potential savings involved when using translation memory. It is becoming increasingly clear that translation memory is here to stay and that it is serving a useful purpose, but just exactly how is this technology affecting the translation industry? Who can profit from it? Are there any “losers?” This thesis will attempt to determine the applicability of translation memory technology and illustrate the ADVANTAGES AND DISADVANTAGES of translation memory in the form of a cost/benefit analysis from the point of view of the end-user.
            For the propose of this thesis, the “end-user” comprises freelance translators, companies with in-house translation divisions, translation agencies and direct clients. The key considerations for determining the cost-effectiveness of translation memory and the cost/benefit analysis will be covered later in this text.

            How does translation memory affect the conventional translation process? In order to answer this question we must have an idea of a what takes place during this process. This section will briefly touch on the general translation process and the features of translation memory used in this process.
            The conventional translation process and the translation process using translation memory respectively. If it is possible to analyze quickly what type of text one is translating and if the text suits translation memory, there are about the same number of steps involved in both processes. One of the greatest differences, however, is that once a translation has been performed using translation memory, not only is there a glossary of terms stored for future recall, individual sentences will also be stored, thus cutting down considerably on the time required for a future translation update or revision.
            The conventional translation process for a text that is being revised. Illustrates the same text using translation memory. note that when using translation memory, fuzzy and exact matching are performed using the translation memory program, allowing for quick access to sections that have changed and permitting the user to focus on translation only those changed sections.
            In this process by which the translation memory program pairs text segments in a revised sources text that match the original source text exactly; however, any text in the document that does not exactly match the original will not be translated. Fuzzy matching is the process by which the translation memory program pairs text segments in a revised source text with similar text segments from a previously stored translation based on the original source text. Fuzzy matching will find segments that are very similar to the original and suggest the original translation. This function can be set to different levels of sensitivity, allowing the translator to “match” source text segments that may differ only slightly or segments that vary greatly, but still have some similarities. After exact and fuzzy matching the translator can modify the remaining segments that reflect the changes between the original and revised texts without having to retranslate the entire document of the language.
            On this note we can defined language as a process that consist of a set of symbols and rules by which the manipulation of these symbols is governed. In fact, it is important to understand that without language on other social institution can function properly. However, if we study and look at the various technological, economical or social changes tht ahs taken place, the language barriers have affected diverse business prospects in many developing as well as developed nations. In the last 15 to 20 years, globalization has made an immense impact on our daily lives and language barriers have drastically affected various business transaction processes.  The world has become a small global village, and there is an increasing demand for language translation service providers today, it is easy to market your organization’s products and services globally through internet. Moreover, with the dominance of the internet in every facet of English-speaking society, you can put your products or services out for the whole, but English is the second most vocal language in the world, behind Mandarin Chinese. However, strong enough to boldly carry out business in English. Thus the challenge of international business is to get to these people. It is very important to understand that in order to do well globally; you must think about language translation as one of the basic and necessary aspects of your organization. Understanding the different touch and the cultural diversity of different countries is essential and can play a major role in having successful or unsuccessful sales. So if your are planning to open your branch offices internationally, or desire to sell your products in foreign markets, an effective language translation service can make every aspect of your business more comprehensible and accessible to whatever population you choose to target your business. As per recent statistic studies, it has been found that if a product automatically promoted in one’s own language, then probability to purchase that product automatically increases. For a universal growth of your business and better business perspective, no doubt by employing a language translation service provider/agency, you can convert all your English-based business documents into any alien language you required. In addition to this, here are some situation where translation service in different forms can give your business an extra edge: Website Translation: Your website says a lot about your business. Now if you are conducting your business online and plan to have an extra benefit, then by translating the web content of your website into diverse languages you can exchange your information to diverse target audiences. It is projected that more than of businesses turn away international orders, just because they unable to translate them. With your website translation into different languages, your can easily attract customers from all over the world. Software Localization: It is a simple procedure of translating software user interfaces from one language to another language that suits other foreign culture. For all those who are involved in industry teaching, and wish to expand their presence in the market, then the best way to make your software useful in foreign soil is to offer it in the local tongue. If you offer your software in different local languages then it will be easier to use and understand by those who do not speak English fluently. A proper translation can help international customers to interact with the software effortlessly in their own language. Financial translation: For every business firm big or small, financial documents that includes: Income sheets, balance sheets, cash flow statements and auditor reports actually reflect the continuous changing pulse of your business. Now through language translation service, you can share some of your vital information with overseas partners or shareholders more effectively.

            No doubt the economic changes all around the world have honestly affected the language translation service and these days translators are equally involved in every part of intercultural and business communication. In a state of constant globalization, today language intercultural and business communication. In a state of constant globalization, today language translation service is becoming a more significant factor for concise transfer of ideas. 
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