The stages a product goes through from introduction to growth, maturity, and decline, influencing marketing and development strategies. Crucial for planning product development and marketing strategies at each stage of the product's life.
The spread and pattern of data values in a dataset, often visualized through graphs or statistical measures. Critical for understanding the characteristics of data and informing appropriate analysis techniques in digital product development.
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.
The tendency to attribute positive qualities to one's own choices and downplay the negatives, enhancing post-decision satisfaction. Useful for understanding user satisfaction and designing experiences that reinforce positive decision outcomes.
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 cognitive bias where individuals strengthen their beliefs when presented with evidence that contradicts them. Important for understanding user resistance to change and designing strategies to address and mitigate this bias.
The organizational structure and dynamics of teams within a company, designed to enhance collaboration and delivery. Important for optimizing team performance and project outcomes.
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.
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.
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.
A group of stakeholders that regularly meet to discuss and guide the development and strategy of a product or product line. Crucial for ensuring diverse input and alignment on product strategy and decisions.
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.
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 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.
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 research method used to determine how desirable a product or feature is to potential users. Crucial for understanding user preferences and guiding product development.
A cognitive bias where group members tend to discuss information that everyone already knows rather than sharing unique information, leading to less effective decision-making. Important for understanding group dynamics and improving the quality of collaborative decision-making among designers.
A testing phase where a product is released to a limited audience outside the development team to identify issues and gather feedback before the final release. Essential for refining a product based on real user feedback and ensuring it meets user needs.
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 process of tracking and managing potential customers from initial contact through to sale. Important for ensuring that leads are properly engaged and converted.
A psychological phenomenon where a person who has done a favor for someone is more likely to do another favor for that person than if they had received a favor from them. Useful for building positive relationships and encouraging cooperative behavior in design and user interactions.
The percentage of leads that convert into customers. Crucial for measuring the effectiveness of marketing and sales efforts.
A psychological phenomenon where the desire for harmony and conformity in a group results in irrational or dysfunctional decision-making. Crucial for recognizing and mitigating the risks of poor decision-making in teams.
The use of natural language processing to identify and extract subjective information from text, determining the sentiment expressed. Crucial for understanding public opinion and customer feedback.
A statistical technique that uses several explanatory variables to predict the outcome of a response variable, extending simple linear regression to include multiple input variables. Crucial for analyzing complex relationships in digital product data.
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.
A network of real-world entities and their interrelations, organized in a graph structure, used to improve data integration and retrieval. Crucial for enhancing data connectivity and providing deeper insights.
Plan, Do, Check, and Act (PDCA) is a four-step management method used for continuous improvement of processes and products. Essential for implementing and maintaining continuous improvement in business and design processes.
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 framework for prioritizing product features based on their impact on customer satisfaction, classifying features into categories such as basic, performance, and delight. Crucial for understanding customer needs and prioritizing features that enhance satisfaction.
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.
The combined efforts of humans and AI systems to achieve better outcomes than either could alone. Important for leveraging the strengths of both humans and AI in various tasks.
The process of identifying user needs and market opportunities to inform the development of new products or features. Crucial for ensuring that products are user-centered and meet real market demands.
The speed at which leads move through the sales funnel. Crucial for understanding and optimizing the sales process.
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.
A group of individuals with similar skills or expertise, spread across different squads, who come together to share knowledge and best practices. Crucial for maintaining technical excellence and fostering professional development within specific disciplines.
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.
Customer Effort Score (CES) is a metric that measures how much effort customers have to put in to interact with a product or service. Crucial for identifying friction points and improving user experience in digital products.
A cognitive bias where individuals or organizations continue to invest in a failing project or decision due to the amount of resources already committed. Important for designers to recognize and mitigate their own risks of continuing unsuccessful initiatives.
A cognitive bias where individuals overlook or underestimate the cost of opportunities they forego when making decisions. Crucial for understanding user decision-making behavior and designing systems that highlight opportunity costs.
A principle that states tasks always take longer than expected, even when considering Hofstadter's Law itself. Important for setting realistic project timelines and managing expectations in digital product development.
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.
The tendency for people to defer purchasing decisions to a later time, often leading to procrastination. Important for understanding consumer behavior and optimizing sales strategies.
The use of data, algorithms, and machine learning to recommend actions that can achieve desired outcomes. Essential for optimizing decision-making and implementing effective strategies.
A simple description of a feature from the perspective of the user, typically used in Agile development to capture requirements and guide development. Crucial for ensuring that development efforts are aligned with user needs and priorities.
Net Promoter Score (NPS) is a metric used to measure customer loyalty and satisfaction based on their likelihood to recommend a product or service to others. Crucial for gauging overall customer sentiment and predicting business growth through customer advocacy.
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 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 application of neuroscience principles to marketing, aiming to understand consumer behavior and improve marketing strategies. Important for creating more effective and engaging marketing campaigns.
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.
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.
A research method that focuses on collecting and analyzing numerical data to identify patterns, relationships, and trends, often using surveys or experiments. Essential for making data-driven decisions and validating hypotheses with statistical evidence.
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.
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.
Measurements used to evaluate the success of an organization, employee, or process in meeting goals. Necessary for assessing performance and driving continuous improvement.
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 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.
A psychological state where individuals feel as though the success and well-being of a project or task is their personal responsibility, akin to having an "owner's mentality.". Essential for fostering accountability, motivation, and proactive engagement within a product design team.
The final interaction a customer has with a brand before making a purchase. Important for understanding which touchpoints drive conversions.
Goal-Question-Metrics (GQM) is a framework for defining and interpreting software metrics by identifying goals, formulating questions to determine if the goals are met, and applying metrics to answer those questions. This framework is essential for measuring and improving software quality and performance.