Numeronym for the word "Virtualization" (V + 12 letters + N), creating virtual versions of physical resources, such as servers, storage devices, or networks, to improve efficiency and scalability. Crucial for optimizing resource use and improving scalability.
Software Development Life Cycle (SDLC) is a process for planning, creating, testing, and deploying an information system. Essential for managing the complexities of software development and ensuring project success.
Business-to-Business-to-Consumer (B2B2C), a business model where businesses sell products or services to other businesses that then sell them to consumers. Important for understanding complex value chains and partnership strategies.
A strategy that focuses on identifying and addressing the specific problems or "pain points" of users in order to improve search engine rankings and attract more targeted traffic. Essential for creating content that directly addresses user needs and improves website visibility.
A statistical theory that states that the distribution of sample means approximates a normal distribution as the sample size becomes larger, regardless of the population's distribution. Important for making inferences about population parameters and ensuring the validity of statistical tests in digital product design.
A hybrid Agile project management framework that combines elements of Scrum and Kanban to improve flexibility and workflow management. Useful for teams seeking to blend the structured approach of Scrum with the visual workflow of Kanban.
Amazon Web Services (AWS) is a comprehensive cloud computing platform provided by Amazon that offers a wide range of services including computing power, storage, and databases. Crucial for enabling scalable, cost-effective, and flexible IT infrastructure solutions for businesses of all sizes.
A decision-making tool that helps prioritize tasks or projects based on specific criteria, such as impact and effort. Essential for effective project management and resource allocation.
A concise statement of what the team aims to achieve during a sprint, providing direction and a shared understanding of the sprint's purpose. Crucial for ensuring team alignment and focus on the most important outcomes during a sprint.
A cognitive bias where people judge the likelihood of an event based on the size of its category rather than its actual probability. Crucial for designers to understand how category size influences user perception and decision-making processes.
A visual tool used to map out the components and features of a product, showing how they relate to each other and to the overall product vision. Useful for visualizing and planning product development, ensuring all elements are aligned with the product vision.
A regular meeting in Agile project management where team members discuss progress, plan work, and identify any obstacles, typically held daily. Crucial for maintaining communication, transparency, and accountability within Agile teams.
A sorting algorithm that distributes elements into a number of buckets, sorts each bucket individually, and then combines the buckets to get the sorted list. Useful for understanding more advanced algorithmic techniques and their applications.
User consent settings for allowing or denying the storage of cookies on their device. Important for complying with privacy regulations and providing users control over their data.
A product development methodology that emphasizes shaping work before starting it, fixing time and team size but leaving scope flexible to ensure high-quality outcomes. Crucial for managing product development efficiently and delivering high-quality results within constraints.
A management framework that organizes employees into small, cross-functional teams (tribes) to enhance agility, collaboration, and innovation. Important for fostering a collaborative and agile work environment.
A meeting at the end of a sprint where the development team presents their completed work to stakeholders. Crucial for gathering feedback and demonstrating progress.
A pricing strategy where a core product is sold at a low price, but complementary products are sold at higher prices. Useful for designing pricing strategies that maximize revenue from complementary products.
A cross-functional team focused on solving customer problems and achieving business outcomes, with a strong emphasis on discovery, experimentation, and continuous improvement. Crucial for creating valuable and innovative products that meet user needs and drive business success through iterative development and close collaboration with stakeholders.
A metric that shows the revenue that a company can expect to receive annually from its customers for subscriptions or services. Essential for understanding business performance and growth potential.
A simple sorting algorithm that repeatedly steps through the list, compares adjacent elements, and swaps them if they are in the wrong order. Important for understanding basic algorithmic principles and their applications.
A non-production environment used for development and testing before deployment to production. Important for ensuring that changes are thoroughly tested before going live.
The percentage of users who start but do not complete a desired action, such as completing a form or purchasing a product. Important for identifying issues in user flows and improving conversion rates.
A list of tasks and deliverables that a team commits to completing during a sprint, providing a clear focus and scope for the sprint's duration. Essential for organizing and prioritizing work within an Agile sprint.
The principle that the more a metric is used to make decisions, the more it will be subject to corruption and distort the processes it is intended to monitor. Important for understanding the limitations and potential distortions of metrics in design and evaluation.
Integrated Business Planning (IBP) is a process that aligns strategic, operational, and financial planning to optimize business performance. It ensures cohesive and efficient planning across all functions.
A structured communication technique originally developed as a systematic, interactive forecasting method which relies on a panel of experts. Important for gathering expert opinions and making informed decisions.
An agile framework for managing work with an emphasis on software development, characterized by sprints and iterative progress. Essential for improving productivity and delivering incremental value in development projects.
Below the Line (BTL) refers to marketing activities targeting specific consumer groups through direct channels. Essential for personalized marketing and building deeper customer relationships.
A strategic approach where multiple potential solutions are tested to identify the most promising one. Crucial for innovation and reducing risk in decision-making.
An automated program used by search engines to browse the internet and index web pages, aiding in the retrieval of relevant information during a search query. Crucial for understanding how search engines discover and index web content.
A marketing concept that describes brands that inspire loyalty beyond reason, creating an emotional connection with consumers. Crucial for building strong brand loyalty and emotional engagement.
The process of collecting, analyzing, and reporting aggregate data about which pages a website visitor visits and in what order. Essential for understanding user behavior and improving website navigation and content.
Acquisition, Activation, Retention, Referral, and Revenue (AARRR) is a metrics framework for assessing user engagement and business performance. Important for product managers to understand customer lifecycle and optimize business growth.
Reinforcement Learning from Human Feedback (RLHF) is a machine learning technique that uses human input to guide the training of AI models. Essential for improving the alignment and performance of AI systems in real-world applications.
A time-boxed period during which specific work must be completed and made ready for review, used in Agile project management. Crucial for managing workload and ensuring continuous delivery and improvement in Agile projects.
Culture, Automation, Lean, Measurement, and Sharing (CALMS) is a framework for guiding the implementation of DevOps practices. Important for fostering a DevOps culture and improving collaboration, efficiency, and continuous improvement in product design teams.
Detailed descriptions of a product's features, functionality, and technical requirements, used to guide development and ensure all stakeholders are aligned. Essential for ensuring that the product development process is clear and aligned with business and user needs.
Balanced Scorecard (BSC) is a strategic planning and management system used to align business activities to the vision and strategy of the organization. Essential for aligning business activities with organizational strategy and improving performance.
A role focused on overseeing the development, launch, and lifecycle of digital products, ensuring they meet market needs and business goals. Essential for integrating digital product strategy and development.
The process of maintaining, updating, and improving a product or system after its initial deployment to ensure its continued functionality, performance, and relevance to users. Crucial for ensuring long-term user satisfaction, product reliability, and adaptation to changing user needs and technological advancements.
A type of model architecture primarily used in natural language processing tasks, known for its efficiency and scalability. Essential for state-of-the-art NLP applications.
A visual tool for organizing information, typically starting with a central concept and branching out to related ideas and details. Essential for brainstorming, planning, and organizing complex information.
The practice of comparing performance metrics to industry bests or best practices from other companies. Essential for identifying performance gaps and opportunities for improvement.
The potential for a project or solution to be economically sustainable and profitable. Important for ensuring that design and development efforts align with business goals and market demands.
The ability to intuitively understand what makes a product successful, including market needs, user experience, and competitive landscape. Important for making informed decisions that lead to successful product development.
A clear and concise list of criteria that a product or task must meet to be considered complete, ensuring alignment and understanding within a team. Essential for maintaining quality and consistency in agile project management.
A pricing strategy where a high-priced option is introduced first to set a reference point, making other options seem more attractive in comparison. Important for shaping user perceptions of value and creating a benchmark for other pricing options.
A Japanese word meaning excessive strain on people or processes. Crucial for preventing burnout and maintaining sustainable work practices.
A short, time-boxed period used in Agile development to research a concept or explore a new technology. Important for reducing uncertainty and risk in development.
Product Advisory Council (PAC) is a group of customers, industry experts, and stakeholders who provide feedback and guidance on a company's product strategy and development. Essential for aligning products with market needs and driving innovation.
The tendency to cling to one's beliefs even in the face of contradictory evidence. Important for understanding resistance to change and designing interventions that address this bias.
Adhering to laws, regulations, and guidelines relevant to business operations and product development. Crucial for ensuring products and practices meet legal and ethical standards.
A strategic plan that outlines the goals, milestones, and steps needed to deliver a product that achieves desired outcomes incrementally, providing a clear path forward. Essential for guiding product development and ensuring alignment with strategic objectives.
Strengths, Weaknesses, Opportunities, and Threats (SWOT) is a strategic planning tool that is applied to a business or project. Essential for strategic planning and decision-making.
Critical Incident Technique (CIT) is a method used to gather and analyze specific incidents that significantly contribute to an activity or outcome. This method is important for identifying key factors that influence performance and user satisfaction.
An approach that applies Agile principles to IT operations, emphasizing iterative development, collaboration, and continuous improvement. Essential for enhancing flexibility, responsiveness, and collaboration in product design and development processes.
Product Requirements is a document that outlines the essential features, functionalities, and constraints of a product. Crucial for guiding the development process and ensuring all stakeholders have a shared understanding of the product's goals.
Program Increment (PI) Planning is a cadence-based event that serves as the heartbeat of the Agile Release Train, aligning teams on goals and priorities for the next increment. Crucial for aligning teams, setting goals, and planning work.
An ongoing effort to improve products, services, or processes over time through incremental and breakthrough improvements. Crucial for fostering a culture of constant enhancement and adaptation.