Hallucination
In AI, the generation of incorrect or nonsensical information by a model, particularly in natural language processing. Important for understanding and mitigating errors in AI systems.
In AI, the generation of incorrect or nonsensical information by a model, particularly in natural language processing. Important for understanding and mitigating errors in AI systems.
An economic approach that treats human attention as a scarce commodity, focusing on capturing and retaining user attention. Crucial for understanding user engagement and designing products that effectively capture and retain attention.
Moment of Truth (MoT) refers to any instance where a customer interacts with a brand, product, or service in a way that leaves a significant impression. Crucial for identifying key touchpoints in the customer journey and optimizing them to enhance overall user experience and brand perception.
A statistical method that models the relationship between a dependent variable and one or more independent variables by fitting a linear equation to observed data. Essential for predicting outcomes and understanding relationships between variables in digital product design and analysis.
A cognitive bias where decision-making is affected by the lack of information or uncertainty. Important for understanding and mitigating user decision-making biases due to uncertainty or lack of information.
A quick and often temporary fix applied to a software product to address an urgent issue without going through the full development cycle. Essential for maintaining the stability and functionality of digital products in the face of critical issues.
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.
A decision-making paradox that shows people's preferences can violate the expected utility theory, highlighting irrational behavior. Important for understanding inconsistencies in user decision-making and designing better user experiences.
The use of AI and advanced analytics to divide users into meaningful segments based on behavior and characteristics. Crucial for personalized marketing and improving user experience.
A theory that a person's behavior is influenced by and influences personal factors and the environment, creating a continuous loop of interaction between these elements. Important for understanding how behavior, personal factors, and environmental contexts dynamically interact to shape user experiences and outcomes.
A tree-like model of decisions and their possible consequences, used in data mining and machine learning for both classification and regression tasks. Valuable for creating interpretable models in digital product design and user behavior analysis.
A cognitive bias where individuals better remember the most recent information they have encountered, influencing decision-making and memory recall. Important for designing user experiences that leverage or mitigate the impact of recent information.
A logical fallacy in which it is assumed that qualities of one thing are inherently qualities of another, due to an irrelevant association. Important for avoiding incorrect associations in user research and data interpretation.
The ability to identify and interpret patterns in data, often used in machine learning and cognitive psychology. Crucial for designing systems that leverage pattern recognition for predictive analytics and user interactions.
A pattern of rapid and sustained growth after a period of linear or stagnant growth, resembling the shape of a hockey stick. Crucial for understanding and planning for rapid expansion phases in digital product lifecycle and business strategy.
Products are individual items or services designed to meet specific customer needs, while programs are collections of related projects and products managed together to achieve broader strategic goals. Essential for understanding the different scopes and objectives involved, helping to manage and align efforts effectively within an organization.
An agile methodology that separates product discovery and product delivery into parallel tracks to ensure continuous learning and delivery. Essential for balancing innovation and execution in agile product development.
The process of transitioning an organization to agile methodologies, including changes in culture, processes, and practices. Essential for organizations seeking to adopt agile practices for improved efficiency and responsiveness.
Software agents that can perform tasks or services for an individual based on verbal commands. Crucial for enhancing user experience through hands-free interaction and automation.
ModelOps (Model Operations) is a set of practices for deploying, monitoring, and maintaining machine learning models in production environments. Crucial for ensuring the reliability, scalability, and performance of AI systems throughout their lifecycle, bridging the gap between model development and operational implementation.
The experience of noticing something for the first time and then frequently encountering it shortly after, also known as frequency illusion. Important for understanding user perception and cognitive biases in information processing.
Business Process Management Software (BPMS) refers to tools and systems that help organizations design, model, execute, monitor, and optimize their business processes. Essential for improving operational efficiency and ensuring that digital products support effective business processes.
Information Visualization (InfoVis) is the study and practice of visual representations of abstract data to reinforce human cognition. Crucial for transforming complex data into intuitive visual formats, enabling faster insights and better decision-making.
Products manufactured by one company for sale under another company's brand name. Important for retailers to offer exclusive products and build customer loyalty.
The study of psychology as it relates to the economic decision-making processes of individuals and institutions. Essential for understanding and influencing user decision-making and behavior in economic contexts.
The tendency for individuals to put in less effort when working in a group compared to when working alone, due to reduced accountability. Crucial for understanding group dynamics and designing systems that ensure individual accountability.
A cognitive bias where people perceive past events as having been more predictable than they actually were. Important for understanding and mitigating biases in user feedback and decision-making.
A form of regression analysis where the relationship between the independent variable and the dependent variable is modeled as an nth degree polynomial. Useful for modeling non-linear relationships in digital product data analysis.
An environment closer to production where final testing and validation occur. Crucial for ensuring that products are ready for production deployment.
An interdisciplinary field that uses scientific methods, processes, algorithms and systems to extract knowledge and insights from structured and unstructured data. Essential for driving data-informed decision making, predicting trends, and uncovering valuable insights in digital product design and development.
The process of tracking and managing potential customers from initial contact through to sale. Important for ensuring that leads are properly engaged and converted.
ARIA attributes that define additional characteristics of elements, such as roles and relationships. Important for enhancing the accessibility and usability of web applications.
Feature Driven Development (FDD) is an agile methodology focused on designing and building features based on client-valued functionality. Essential for delivering client-valued features efficiently and effectively.
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.
The risk that the product will not be financially or strategically sustainable for the business, potentially leading to a lack of support or profitability. Essential for ensuring that the product aligns with business goals and can be maintained and supported long-term.
The use of HTML tags to convey the meaning of content on web pages, improving accessibility and search engine optimization. Essential for creating accessible and SEO-friendly web content.
A brainstorming technique where participants intentionally suggest bad ideas to spur creative thinking and overcome mental blocks. Important for fostering creativity and out-of-the-box thinking during ideation sessions.
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.
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 skill set that combines deep knowledge in a single area (the vertical stroke) with a broad understanding across multiple disciplines (the horizontal stroke). Valuable for fostering versatility and collaboration within teams, enhancing problem-solving and innovation.
The process of testing product ideas and assumptions with real customers to ensure they meet market needs. Essential for reducing risk and ensuring product-market fit.
A market space that is unexplored and uncontested, where companies can create new demand and capture significant market share without much competition. Crucial for identifying opportunities for innovation and growth by creating new markets.
The organizational structure and dynamics of teams within a company, designed to enhance collaboration and delivery. Important for optimizing team performance and project outcomes.
Numeronym for the word "Personalization" (P + 13 letters + N), tailoring a product, service, or experience to meet the individual preferences, needs, or behaviors of each user. Important for enhancing user satisfaction and engagement.
The risk that the product being developed will not deliver sufficient value to the users, meaning it won't meet their needs or solve their problems. Critical for ensuring the product will be desirable and valuable to the users, which is essential for its success.
Trust, Risk, and Security Management (TRiSM) is a framework for managing the trust, risk, and security of AI systems to ensure they are safe, reliable, and ethical. Essential for ensuring the responsible deployment and management of AI technologies.
A blend of physical and digital experiences to create a cohesive user experience. Important for integrating online and offline customer interactions.
AI systems designed to communicate with users through natural language, enabling human-like interactions. Crucial for developing advanced customer service and user engagement solutions.
A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision. Crucial for understanding how people make decisions and the biases that influence their choices.
Numeronym for the word "Interoperability" (I + 14 letters + Y), the ability of different systems, devices, or applications to work together and exchange information effectively without compatibility issues. Crucial for ensuring compatibility and integration between systems.
A statistical phenomenon where a large number of hypotheses are tested, increasing the chance of a rare event being observed. Crucial for understanding and avoiding false positives in data analysis.
A cognitive bias where individuals evaluate the value of bundled items differently than they would if the items were evaluated separately. Important for understanding user behavior and designing effective product bundles and pricing strategies.
A set of standards and guidelines used to ensure the integrity, security, and compliance of business processes and IT systems. Important for establishing robust governance and control mechanisms in digital product design and development.
Numeronym for the word "Localization" (L + 10 letters + N), adapting a product or content to meet the language, cultural, and regional preferences of a specific target market. Essential for ensuring product relevance in different regions.
The process of turning potential customers into paying customers, often measured by the conversion rate. Essential for understanding and optimizing the customer journey.
A design pattern that combines human and machine intelligence to enhance decision-making and problem-solving. Important for leveraging AI to support and amplify human capabilities.
Anchoring (also known as Focalism) is a cognitive bias where individuals rely heavily on the first piece of information (the "anchor") when making decisions. Crucial for understanding and mitigating initial information's impact on user decision-making processes.
The SEO value or authority passed from one website to another through hyperlinks, influencing the search engine ranking of the linked site. Important for understanding and leveraging the impact of links on SEO performance.
The systematic computational analysis of data or statistics to understand and improve business performance. Essential for data-driven decision making in design, product management, and marketing.
The area within a market where unmet needs or problems present potential for new products or services. Essential for identifying new business opportunities.