A behavioral economics concept where people categorize and treat money differently depending on its source or intended use. Crucial for understanding financial behavior and designing systems that align with users' mental accounting practices.
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.
A cognitive bias where individuals evaluate outcomes relative to a reference point rather than on an absolute scale. Essential for understanding decision-making and consumer behavior.
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.
Human-Computer Interaction (HCI) is the study of designing interfaces and interactions between humans and computers. It ensures that digital products are user-friendly, efficient, and satisfying.
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.
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 framework for discovering and validating the right market for a product, building the right product features, and validating the business model. Important for ensuring that products meet market needs and customer expectations.
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.
A concept that humans make decisions within the limits of their knowledge, cognitive capacity, and available time, leading to satisficing rather than optimal solutions. Crucial for designing systems and processes that account for human cognitive limitations and decision-making processes.
A market space that is already crowded with competition, where companies fight for market share, leading to intense rivalry and lower profitability. Important for understanding competitive dynamics and market saturation in strategic planning.
Human-Centered Design (HCD) is an approach to problem-solving that involves the human perspective in all steps of the process. It ensures designs are user-friendly and meet actual user needs.
The rate at which customers stop using a product or service, often used as a metric to measure customer retention. Crucial for understanding customer behavior and improving retention strategies.
Objectives and Key Results (OKR) is a goal-setting framework for defining and tracking objectives and their outcomes. Essential for aligning organizational goals, improving focus and engagement, and driving measurable results across teams and individuals.
The process of systematically collecting, analyzing, and acting on feedback from users to improve products and services. Essential for ensuring that user insights are effectively integrated into the development process.
Interaction Design (IxD) focuses on creating engaging interfaces with well-thought-out behaviors. Crucial for ensuring intuitive and effective user interactions.
The process of turning potential customers into paying customers, often measured by the conversion rate. Essential for understanding and optimizing the customer journey.
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 concept in behavioral economics that describes how future benefits are perceived as less valuable than immediate ones. Important for understanding user preferences and designing experiences that account for time-based value perceptions.
A prioritization framework used to assess and compare the value a feature will deliver to users against the complexity and cost of implementing it. Crucial for making informed decisions about feature prioritization and resource allocation.
A cognitive bias where the perception of one positive trait influences the perception of other unrelated traits. Important for designers to manage and utilize this bias effectively in user experience design.
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.
Organizational Change Management (OCM) is the process of managing the people side of change to achieve desired business outcomes. Essential for ensuring successful implementation of changes within an organization.
A system where outputs are fed back into the process as inputs, allowing for continuous improvement based on user responses. Crucial for iterative development and continuous improvement in design and product management.
A method used to create detailed narratives of potential future events to explore and understand possible outcomes and inform decision-making. Essential for strategic planning and anticipating the impact of different decisions or changes.
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.
An approach to information architecture that starts with the details and builds up to a comprehensive structure. Useful for designing flexible and detailed systems that can adapt to user needs.
Model-Based Systems Engineering (MBSE) is a methodology that uses visual modeling to support system requirements, design, analysis, and validation activities throughout the development lifecycle. Essential for managing complex systems, improving communication among stakeholders, and enhancing the overall quality and efficiency of systems engineering processes.
The process of changing the corporate image of an organization, including its name, logo, visual identity, and messaging, to better align with its strategic goals. Important for revitalizing a brand and aligning it with current market positioning and business objectives.
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.
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.
The practice of selling additional products or services to an existing customer. Essential for increasing revenue and enhancing customer value.
A brief description of how a product, service, or brand meets the needs of its target audience and stands out from competitors. Crucial for defining the unique value proposition and guiding marketing strategies for digital products.
An experimental design where subjects are paired based on certain characteristics, and then one is assigned to the treatment and the other to the control group. Important for reducing variability and improving the accuracy of experimental results.
Customer Experience Management (CEM) is the process of managing and improving the interactions and experiences customers have with a brand across all touchpoints. This process is essential for building strong customer relationships and enhancing brand loyalty.
The economic theory that suggests limited availability of a resource increases its value, influencing decision-making and behavior. Important for creating urgency and increasing perceived value in marketing.
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 psychological theory proposed by Abraham Maslow that outlines a five-tier model of human needs, ranging from basic physiological needs to self-actualization. Crucial for designing products and services that address various levels of user needs.
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.
A machine learning-based search engine algorithm used by Google to help process search queries and provide more relevant results. Important for understanding modern SEO practices and how search engines interpret and rank web content.
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 ability of a system, product, or process to handle increased loads or expand without compromising performance or efficiency. Essential for ensuring that products and systems can grow and adapt to increasing demands.
The worth of something based on its ability to help achieve a desired end or goal. Useful for understanding and prioritizing design elements that contribute to user goals.
Conversion Rate Optimization (CRO) is the systematic process of increasing the percentage of website visitors who take a desired action, such as making a purchase or filling out a form. Crucial for improving user engagement and achieving business goals.
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 process of linking language to its real-world context in AI systems, ensuring accurate understanding and interpretation. Crucial for improving the relevance and accuracy of AI-generated responses.
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.
An analysis that assesses the practicality and potential success of a proposed project or system. Crucial for determining the viability and planning of new initiatives.
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 study of how new ideas, products, and processes are developed and brought to market. Essential for fostering creativity and ensuring the continuous improvement and relevance of products.
Project Management Professional (PMP) is a globally recognized certification for project managers, awarded by the Project Management Institute (PMI). Essential for validating project management expertise and enhancing career prospects.
Social, Technological, Economic, Environmental, Political, Legal, and Ethical (STEEPLE) is an analysis tool that examines the factors influencing an organization. Crucial for comprehensive strategic planning and risk management in product design.
Areas of unmet demand in a market where opportunities for growth and development exist. Essential for identifying new business opportunities.
The reduction in sales of a company's existing products due to the introduction of a new product by the same company. Crucial for understanding product strategy and market impacts of new product introductions.
Decision-making strategies that use simple heuristics to make quick, efficient, and satisfactory choices with limited information. Important for designing user experiences that support quick and efficient decision-making.
Crit (Design Critique) is a structured feedback session where designers present their work and receive constructive feedback from peers. Essential for refining design quality through collaborative input.
A Project Management Office (PMO) is a centralized unit within an organization that oversees and standardizes project management practices. Essential for ensuring consistency, efficiency, and alignment with strategic goals across projects.
The sequence of phases through which a product or project passes from conception to completion. Essential for managing and tracking the progress of development projects.
Generative Pre-trained Transformer (GPT) is a type of AI model that uses deep learning to generate human-like text based on given input. This technology is essential for automating content creation and enhancing interactive experiences.
Natural Language Processing (NLP) is a field of AI focused on the interaction between computers and humans using natural language. Essential for developing applications like chatbots, language translation, and sentiment analysis.