The practice of comparing one's performance, processes, or practices to those of peers or competitors to identify areas for improvement. Important for understanding relative performance and identifying best practices for improvement.
Voice of the Customer (VOC) is a process for capturing customers' expectations, preferences, and aversions. Crucial for guiding product development and improving customer satisfaction.
Customer Relationship Management (CRM) is a strategy for managing an organization's relationships and interactions with current and potential customers. Essential for improving business relationships and driving sales growth.
A measure used in Agile project management to quantify the amount of work a team can complete in a given sprint, typically measured in story points. Crucial for planning and forecasting in Agile projects and understanding team capacity.
A Japanese term meaning "the real place," used in Lean management to describe the place where value is created. Important for understanding the actual processes and identifying areas for improvement.
Serviceable Addressable Market (SAM) is the portion of the Total Addressable Market that a company can target with its products and services. Essential for focusing marketing and sales efforts on reachable segments.
The process of tracking and managing potential customers from initial contact through to sale. Important for ensuring that leads are properly engaged and converted.
A visual representation of the stages a sales opportunity goes through, helping to track progress and forecast revenue. Important for managing sales processes and predicting future sales.
Feature Adoption Rate (FAR) is the percentage of users who adopt a new feature within a specified time period after its release. This metric is important for measuring the success and impact of new product features.
A mathematical framework used to analyze strategic interactions where the outcomes depend on the actions of multiple decision-makers. Useful for designing systems and processes that involve competitive or cooperative interactions.
The extent to which a measure represents all facets of a given construct, ensuring the content covers all relevant aspects. Important for ensuring that assessments and content accurately reflect the intended subject matter.
The final interaction a customer has with a brand before making a purchase. Important for understanding which touchpoints drive conversions.
The process of understanding user behaviors, needs, and motivations through various qualitative and quantitative methods. Essential for designing user-centered products and ensuring they meet actual user needs.
The study of complex systems and how interactions within these systems give rise to collective behaviors. Useful for understanding and managing the complexity in design processes and systems.
A cognitive bias where people avoid negative information or situations, preferring to remain uninformed or ignore problems. Important for understanding user behavior and designing systems that encourage proactive engagement.
A technique used to prioritize product features based on the potential impact on customer satisfaction and business goals. Essential for aligning product development efforts with user needs and business objectives.
A technique that visualizes the process users go through to achieve a goal with a product or service. Essential for identifying pain points and optimizing user interactions to improve overall experience.
A cognitive bias where individuals' expectations influence their perceptions and judgments. Relevant for understanding how expectations skew perceptions and decisions among users.
The overall market environment in which a business operates, including the strengths and weaknesses of competitors. Important for understanding the market context and identifying opportunities and threats.
Research conducted to assess the effectiveness, usability, and impact of a design or product. Essential for validating design decisions and improving user experiences.
Numeronym for the word "Observability" (O + 11 letters + N), the ability to observe the internal states of a system based on its external outputs, facilitating troubleshooting and performance optimization. Crucial for monitoring and understanding system performance and behavior.
User-Centered Design (UCD) is an iterative design approach that focuses on understanding users' needs, preferences, and limitations throughout the design process. Crucial for creating products that are intuitive, efficient, and satisfying for the intended users.
A behavioral economics model that explains decision-making as a conflict between a present-oriented "doer" and a future-oriented "planner". Useful for understanding user decision-making and designing interventions that balance short-term and long-term goals.
The rate at which employees leave a company and are replaced by new hires, often used as a measure of organizational health and stability. Essential for understanding workforce dynamics and designing strategies to improve employee retention.
The origins of visitors to a website, such as search engines, direct visits, social media, and referrals from other sites. Crucial for understanding and optimizing website traffic and marketing strategies.
A cognitive bias where people seek out more information than is needed to make a decision, often leading to analysis paralysis. Crucial for designing decision-making processes that avoid information overload for users.
A research method used to determine how desirable a product or feature is to potential users. Crucial for understanding user preferences and guiding product development.
The study of dynamic systems that are highly sensitive to initial conditions, leading to unpredictable behavior. Important for recognizing and managing unpredictable elements in design and development processes.
The percentage of users who take a specific action that signifies they are engaging with a product or service. Important for measuring user engagement and the effectiveness of onboarding processes.
A role that involves overseeing the development and improvement of technical products, ensuring they meet user needs and business goals. Crucial for bridging the gap between technical teams and business objectives, ensuring successful product development.
A framework for understanding what drives individuals to act, involving theories such as Maslow's hierarchy of needs. Important for designing products and experiences that align with users' intrinsic and extrinsic motivations.
A method of comparing two versions of a webpage or app to see which performs better in terms of user engagement or conversions. Crucial for designers and product managers to test variations and optimize user experience and performance.
The process of generating a broad set of ideas on a given topic, with no attempt to judge or evaluate them initially. Crucial for creative problem-solving and developing innovative solutions in product design and development.
A theoretical framework in economics that assumes individuals act rationally and seek to maximize utility, used to predict economic behavior and outcomes. Important for understanding traditional economic theories and designing systems that account for rational decision-making.
The study of social relationships, structures, and processes. Important for understanding the impact of social dynamics on user behavior and designing for social interactions.
The behavior of seeking information or resources based on social interactions and cues. Important for understanding how users gather information in social contexts and designing systems that support collaborative information seeking.
A usability testing method where users interact with a system they believe to be autonomous, but which is actually operated by a human. Essential for testing concepts and interactions before full development.
The complete set of experiences that customers go through when interacting with a company, from initial contact to post-purchase. Essential for understanding and optimizing each touchpoint in the customer lifecycle.
An area in a market or industry that is currently underserved or unaddressed, presenting opportunities for innovation and new business ventures. Important for identifying gaps in the market that can be filled with new products, services, or solutions.
Portfolio Management is the process of overseeing and coordinating an organization's collection of products to achieve strategic objectives. Crucial for balancing resources, maximizing ROI, and aligning products with business goals.
A comprehensive analysis of a website to assess its performance in search engine rankings and identify areas for improvement. Essential for diagnosing and enhancing a website's SEO performance.
CSM (Customer Success Management) is a business methodology focused on ensuring customers achieve their desired outcomes while using a product or service. Crucial for driving customer retention and satisfaction.
A thorough examination of a brand's current position in the market and its effectiveness in reaching its goals. Important for assessing brand health and identifying areas for improvement.
A strategy or plan that outlines how a company will launch a product to market, including target audience, marketing tactics, and sales strategy. Essential for successfully launching products and capturing market share.
Situation-Complication-Resolution (SCR) is a communication and problem-solving framework used to structure information clearly and logically. Crucial for effectively conveying complex ideas and solutions in business and design contexts.
Large Language Model (LLM) is an advanced artificial intelligence system trained on vast amounts of text data to understand and generate human-like text. Essential for natural language processing tasks, content generation, and enhancing human-computer interactions across various applications in product design and development.
The percentage of visitors to a website who navigate away from the site after viewing only one page. Important for understanding user engagement and the effectiveness of a website's content and design.
A sales technique used to uncover a prospect's pain points through a series of targeted questions. Important for understanding customer needs and driving effective sales conversations.
The process of evaluating the impact and success of a feature after its release, based on predefined metrics and user feedback. Crucial for understanding the effectiveness of features and informing future development.
A type of bar chart that represents a project schedule, showing the start and finish dates of elements within the project. Important for planning and visualizing project timelines and dependencies.
An analysis comparing the costs and benefits of a decision or project to determine its feasibility and value. Important for making informed business and design decisions.
The simultaneous pursuit of differentiation and low cost, creating a leap in value for both the company and its customers, often associated with Blue Ocean Strategy. Important for developing strategies that can open up new markets and create significant competitive advantages.
A systematic evaluation of all features in a product to determine their usage, effectiveness, and alignment with business goals. Essential for optimizing product performance and user satisfaction.
The application of game-design elements and principles in non-game contexts to engage and motivate people to achieve their goals. Crucial for enhancing user engagement and motivation in various contexts.
A lead that has successfully become a customer. Crucial for measuring the effectiveness of marketing and sales strategies.
A principle stating that as investment in a single area increases, the rate of return on that investment eventually decreases. Important for understanding and optimizing resource allocation in product design and development.
A common pattern of eye movement where users scan web content in an "F" shape, focusing on the top and left side of the page. Crucial for designing web content that aligns with natural reading patterns to improve engagement.
Often referred to as "marketing funnel", a model that represents the user journey from awareness to purchase used to analyze and optimize conversion of prospects to customers. Essential for understanding and improving the customer journey and conversion process.
The theory that people adjust their behavior in response to the perceived level of risk, often taking more risks when they feel more protected. Important for designing safety features and understanding behavior changes in response to risk perception.
The assessment of the strengths and weaknesses of current and potential competitors to identify competitive advantages and disadvantages. Essential for strategic planning and positioning within the market.