During the elicitation activity the raw description of the rule uses business terms as used in common language used by the people. This presents what the business users think about the way things are done in the company. They are linking words with statements with all the different semantic attached to them. The first activity focuses on analyzing this rule description to extract the business entities and terms used in a formal non ambiguous fashion. 

We are discussing about Business Term here, as reference to a business concept used in daily business operations.They are often found in different departments or refer to the same business concept from a different perspective: they are synonyms. A term may describe business concept which will be mapped to a Class, a characteristic of a business entity which will be mapped to attribute of a class, and sometime a term may describe the way a business object behave, in that last case it will be mapped within method of a final state machine.

The second concept presented in the analysis of rule is the Fact. Fact is a combination of terms that describes what business people know about their business. It connects terms into sensible business relevant observations.
As stated by the SBVR specification meaning is built of concepts, questions and propositions. the concepts will build our underlying data model used by the executable rules, and the proposition will structure the data model and can also be mapped to rules.

All these informations help to build a first logical data model used to build the underlying object model used by the rules. We can use UML tool to design a class diagram, generates java code and import such code in the rule IDE.