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.
A recommendation system technique that makes predictions about user interests based on preferences from many users. Essential for personalizing user experiences and improving recommendation accuracy.
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.
A symmetrical, bell-shaped distribution of data where most observations cluster around the mean. Fundamental in statistics and crucial for many analytical techniques used in digital product design and data-driven decision making.
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.
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 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 professional who designs, builds, and maintains systems for processing large-scale data sets. Essential for enabling data-driven decision-making and supporting advanced analytics in organizations.
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.
An evaluation process that assesses the effectiveness, efficiency, and alignment of product management practices and strategies with organizational goals. Essential for identifying areas for improvement and ensuring alignment with business objectives.
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.
Market Requirements Document (MRD) is a comprehensive document that outlines the market's needs, target audience, and business objectives for a product. It serves as a crucial tool for aligning product development efforts with market demands and business goals, ensuring that the final product meets customer needs and achieves market success.
The percentage of users who start but do not complete a desired action, such as completing a form or purchasing a product. Important for identifying issues in user flows and improving conversion rates.
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.
The primary brand in a brand architecture that serves as the foundation for all sub-brands and extensions. Essential for providing a unified brand strategy and leveraging brand equity across multiple products.
The process of turning potential customers into paying customers, often measured by the conversion rate. Essential for understanding and optimizing the customer journey.
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.
A cognitive bias where individuals underestimate their own abilities and performance relative to others, believing they are worse than average. Important for understanding self-perception biases among designers and designing systems that support accurate self-assessment.
The loss of customers over a specific period, also known as customer churn. Important for understanding and addressing customer retention issues.
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.
Obstacles that make it difficult for new competitors to enter an industry, such as high capital requirements, strong brand loyalty, or regulatory hurdles. Crucial for assessing the competitive landscape and the feasibility of entering a new market.
The competitive advantage gained by the initial significant occupant of a market segment, which can lead to brand recognition and customer loyalty. Important for understanding the benefits and risks of being an early entrant in a new market.
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.
Numeronym for the word "Compatibility" (C + 11 letters + Y), ensuring that systems, devices, or applications can operate together without conflict or need for modification. Crucial for ensuring seamless integration and functionality across different platforms.
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.
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.
Call to Action (CTA) is a prompt that encourages users to take a specific action, such as signing up for a newsletter or making a purchase. Crucial for guiding user behavior and increasing engagement or conversions on digital platforms.
Products manufactured by one company for sale under another company's brand name. Important for retailers to offer exclusive products and build customer loyalty.
Elements of a service or product that are not visible to the user but are essential for delivering the front-stage experience. Crucial for understanding and designing the full user experience, including behind-the-scenes elements.
A usability testing method that measures the first click users make on a webpage to determine if they can successfully navigate to their goal. Essential for evaluating and improving the navigational structure of a website.
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.
A semi-fictional representation of an ideal customer based on market research and real data about existing customers. Essential for targeting design and marketing efforts to meet the needs and preferences of specific user groups.
A senior role responsible for guiding the product management team and overseeing the development and strategy of products. Crucial for ensuring successful product development and alignment with business goals.
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.
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 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.
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 change management strategy that aligns people, process, and technology initiatives to improve performance and achieve business goals. Crucial for adapting to market changes and ensuring the organization's long-term success.
Voice of the Customer (VOC) is a process for capturing customers' expectations, preferences, and aversions. Crucial for guiding product development and improving customer satisfaction.
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 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.
A statistical method used to assess the generalizability of a model to unseen data, involving partitioning a dataset into subsets for training and validation. Essential for evaluating model performance and preventing overfitting in digital product analytics.
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 degree to which a product's elements are consistent with external standards or other products. Important for ensuring compatibility and user familiarity across different systems.
The ability of an organization to adapt quickly to market changes and external forces while maintaining a focus on delivering value. Essential for fostering an adaptable and resilient design and development process.
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.
A strategic framework that designs user experiences to guide behavior and decisions towards desired outcomes. Crucial for creating effective and ethical influence in digital interfaces.
Also known as Expert Review, a method where experts assess a product or system against established criteria to identify usability issues and areas for improvement. Essential for leveraging expert insights to enhance product quality and usability.
The process of estimating future sales based on historical data, trends, and market analysis. Crucial for setting realistic sales targets and planning resources effectively.
The process of tailoring a product or experience to meet the individual needs and preferences of users. Essential for enhancing user engagement and satisfaction by delivering relevant experiences.
Business-to-Business-to-Consumer (B2B2C), a business model where businesses sell products or services to other businesses that then sell them to consumers. Important for understanding complex value chains and partnership strategies.
The practice of designing products, services, and environments with a focus on the overall user experience. Essential for creating holistic and meaningful interactions.
Knowledge Organization System (KOS) refers to a structured framework for organizing, managing, and retrieving information within a specific domain or across multiple domains. Essential for improving information findability, enhancing semantic interoperability, and supporting effective knowledge management in digital environments.
Business-to-Business-to-Business (B2B2B), a business model where businesses sell products or services to other businesses that then sell them to additional businesses. Crucial for understanding multi-tiered business relationships and strategies.
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.
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 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.
The extent to which consumers can identify a brand by its attributes such as logo, tagline, or packaging. Essential for building brand awareness and ensuring that the brand stands out in the market.
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.
Cost Per Click (CPC) is an online advertising model where the advertiser pays each time a user clicks on their ad. This model is crucial for measuring and optimizing the effectiveness of online advertising campaigns.