An approach to design that aligns design activities with strategic business goals, ensuring that design contributes to overall organizational success. Essential for integrating design into the strategic planning process and achieving business objectives.
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.
World Wide Web Consortium (W3C) is an international community that develops open standards to ensure the long-term growth of the Web. Essential for creating and maintaining protocols and guidelines that enable the Web to function and evolve.
The practice of guiding and inspiring teams to create effective, user-centered design solutions that align with business goals. Crucial for fostering a culture of innovation, collaboration, and excellence in design practices within organizations.
An organization that places the product at the center of its operations, ensuring that all departments align their efforts to support product development and success. Crucial for creating a cohesive and focused approach to product development and business growth.
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.
Key Performance Indicators (KPIs) are quantifiable measures used to evaluate the success of an organization, employee, or project in meeting objectives for performance. Essential for tracking progress, making informed decisions, and aligning efforts with strategic goals across various business functions, including product design and development.
The financial performance of a product, measured by its ability to generate revenue and profit relative to its costs and expenses. Important for assessing the financial success of a product and making informed business decisions.
Customer Experience (CX) is the overall perception and feeling a customer has when interacting with a company, its products, or services. Crucial for ensuring positive interactions with a company, driving loyalty and satisfaction.
The likelihood that a customer will continue to buy from a particular company or brand over time. Crucial for maintaining a stable customer base and ensuring long-term business success.
A structured evaluation process where a product's design, functionality, and user experience are assessed, often by peers or experts. Essential for identifying areas for improvement and fostering a culture of continuous enhancement.
The set of shared values, practices, and goals that characterize a startup company. Important for fostering innovation, agility, and a collaborative environment within product design teams.
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.
The use of technology to perform repetitive tasks or processes in a workflow, liberating skilled experts from tedious activities and empowering them to focus on higher-order problem-solving and creative tasks. Crucial for streamlining operations, reducing human error, and enhancing the overall efficiency and innovation capacity of product design teams.
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.
The process of turning potential customers into paying customers, often measured by the conversion rate. Essential for understanding and optimizing the customer journey.
The loss of customers over a specific period, also known as customer churn. Important for understanding and addressing customer retention issues.
An established company or market leader that holds a significant market share and has a strong presence in the industry. Important for understanding the dynamics between established players and new entrants in a market.
The strategy of placing a brand in the market to occupy a distinct and valued place in the minds of the target audience. Crucial for differentiating a brand and achieving competitive advantage.
The ability to use learned knowledge and experience, often increasing with age and accumulated learning. Important for understanding how expertise and knowledge accumulation impact design and decision-making.
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.
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.
The systematic process of capturing, evaluating, and implementing ideas to drive innovation, reflecting a collective commitment to continuous improvement and product excellence. Essential for harnessing team creativity and maintaining the entrepreneurial spirit that characterizes successful product development.
The extent to which a brand is seen or experienced by potential customers through various media channels. Crucial for increasing brand awareness and reaching new audiences.
A brand architecture strategy where multiple distinct brands are managed under a single parent company. Crucial for managing diverse product lines and maximizing market reach.
A lead that has successfully become a customer. Crucial for measuring the effectiveness of marketing and sales strategies.
AI as a Service (AIaaS) is a service model where AI tools and algorithms are provided over the internet by a third-party provider. Essential for making advanced AI capabilities accessible to businesses.
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.
A metric used to rank leads based on their engagement with a brand, indicating their readiness to purchase. Crucial for prioritizing leads and improving sales efficiency.
Not Invented Here (NIH) syndrome refers to the aversion to using or buying products, research, or knowledge developed outside an organization. This mindset can hinder innovation and collaboration.
A brand that is supported by a stronger brand, typically a parent brand, which lends its credibility. Essential for leveraging the strength of a parent brand to build trust and recognition for a sub-brand.
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.
Return on Advertising Spend (ROAS) measures the revenue generated for every dollar spent on advertising. Essential for assessing the effectiveness and profitability of marketing campaigns.
A group of people who share a common interest or profession and engage in collective learning through regular interactions, sharing knowledge, and developing expertise together. Essential for fostering collaboration, continuous learning, and the dissemination of best practices within a specific field or discipline.
The perseverance and passion for long-term goals, often seen as a key trait for success. Important for understanding and fostering resilience and persistence in design and product development.
A methodology for building software-as-a-service apps that emphasizes best practices for development, deployment, and scalability. Important for creating scalable, maintainable, and efficient digital products.
The ability to recognize, understand, and manage one's own emotions and the emotions of others. Essential for designing empathetic user experiences and effective team collaboration.
A meeting held at the end of a project or development cycle, also known as a "post-mortem," to review what went well, what didn't, and how processes can be improved in the future. Crucial for continuous improvement and learning from past experiences to enhance future projects.
A Gestalt principle stating that elements moving in the same direction are perceived as a group or a single entity. Crucial for creating visual designs that effectively convey movement and relationships.
A set of principles describing how the human mind organizes visual information into meaningful wholes. Crucial for designing intuitive digital interfaces and cohesive user experiences that align with natural human perception patterns.
Zone of Proximal Development (ZPD) is a concept in educational psychology that describes the difference between what a learner can do independently and what they can achieve with guidance and support. Crucial for designing effective educational experiences and scaffolding that promote optimal learning and skill development.
Business Intelligence (BI) encompasses technologies, applications, and practices for the collection, integration, analysis, and presentation of business information. Crucial for making data-driven decisions and improving business performance.
The use of data and insights to understand and manage relationships with customers and prospects. Crucial for enhancing customer engagement and building stronger relationships.
The use of algorithms to generate new data samples that resemble a training dataset, often used in AI for creating realistic outputs. Important for developing creative and innovative solutions in digital product design, such as content generation and simulation.
Newly developing patterns or shifts in technology, behavior, or design that have the potential to influence future practices and strategies. Important for staying ahead of the curve and adapting to changes in the industry.
A statistical phenomenon where two independent events appear to be correlated due to a selection bias. Important for accurately interpreting data and avoiding misleading conclusions.
A system that suggests products, services, or content to users based on their preferences and behavior. Essential for personalizing user experiences and increasing engagement and conversion rates.
A marketing strategy where two brands collaborate to create a product or service that leverages the strengths of both. Crucial for expanding market reach and enhancing brand value through strategic partnerships.
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.
The practice of comparing performance metrics to industry bests or best practices from other companies. Essential for identifying performance gaps and opportunities for improvement.
A social norm of responding to a positive action with another positive action, fostering mutual benefit and cooperation. Important for designing user experiences and systems that encourage positive reciprocal interactions.
Capability Maturity Model (CMM) is a framework for improving and optimizing processes within an organization. Essential for assessing and enhancing the maturity and efficiency of processes in product design and development.
A product or service produced by one company that other companies rebrand to make it appear as if they had made it. Crucial for understanding business strategies that allow for customization and brand differentiation.
The integration of digital technology into all areas of a business, fundamentally changing how it operates and delivers value to customers. Essential for staying competitive and relevant in a rapidly evolving digital landscape.
A marketing strategy that uses user behavior data to deliver personalized advertisements and content. Important for improving user engagement and conversion rates by providing relevant and timely information to users.
The percentage of customers who stop using a product or service during a specific time period. Essential for understanding customer retention and identifying areas for improvement.
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.
Lifetime Value (LTV) is a metric that estimates the total revenue a business can expect from a single customer account throughout their relationship. Crucial for informing customer acquisition strategies, retention efforts, and overall business planning by providing insights into long-term customer profitability.
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.
The process of managing multiple related projects in a coordinated way to achieve strategic business objectives. Crucial for ensuring alignment and efficiency across multiple projects to achieve broader goals.