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.
The process of assigning target keywords to specific pages on a website to optimize each page for relevant search terms and improve overall SEO strategy. Crucial for creating a structured and effective SEO strategy.
Data points that represent an individual's, team's, or company's performance in the sales process. Essential for tracking progress, identifying issues, and optimizing sales strategies.
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 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.
A qualitative research method that studies people in their natural environments to understand their behaviors, cultures, and experiences. Crucial for gaining deep insights into user behaviors and contexts.
An economic theory that explains why some necessities, such as water, are less expensive than non-essentials, like diamonds, despite their greater utility. Useful for understanding consumer behavior and designing pricing strategies.
The study of how psychological influences affect financial behaviors and decision-making. Essential for understanding and influencing financial decision-making and behavior.
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.
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.
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.
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.
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.
Customer Relationship Management (CRM) is a strategy for managing an organization's relationships and interactions with current and potential customers. Essential for improving business relationships and driving sales growth.
A pricing strategy where a high-priced option is introduced first to set a reference point, making other options seem more attractive in comparison. Important for shaping user perceptions of value and creating a benchmark for other pricing options.
Return on Investment (ROI) is a performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of different investments. Crucial for assessing the financial effectiveness of business decisions, projects, or initiatives.
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.
Metrics that may look impressive but do not provide meaningful insights into the success or performance of a product or business, such as total page views or social media likes. Important for distinguishing between metrics that drive real business value and those that do not.
The process of ranking leads based on their perceived value to the organization. Useful for prioritizing sales efforts and improving conversion rates.
Minimum Viable Product (MVP) is a version of a product with just enough features to be usable by early customers who can then provide feedback for future product development. Essential for validating product ideas quickly and cost-effectively, allowing teams to learn about customer needs without fully developing the product.
Minimum Viable Experience (MVE) is the simplest version of a product that delivers a complete and satisfying user experience while meeting core user needs. Essential for rapidly validating product concepts and user experience designs while ensuring that even early versions of a product provide value and a positive impression to users.
Any interaction or communication between a brand and its audience. Important for managing and optimizing all points of contact to ensure a positive brand experience.
A research method that focuses on understanding phenomena through in-depth exploration of human behavior, opinions, and experiences, often using interviews or observations. Essential for gaining deep insights into user needs and behaviors to inform design and development.
The difference between a brand's desired perception and the actual perception held by consumers. Important for identifying areas of improvement and aligning brand strategy with consumer expectations.
Practical applications of behavioral science to understand and influence human behavior in various contexts. Crucial for applying scientific insights to design and improve user experiences and outcomes.
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.
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.
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.
Needs and expectations that are not explicitly stated by users but are inferred from their behavior and context. Crucial for identifying and addressing unarticulated user needs.
A phenomenon where the winner of an auction tends to overpay due to emotional competition, leading to a less favorable outcome than anticipated. Important for understanding decision-making biases and designing systems that mitigate overbidding risks.
The practice of deeply understanding and sharing the feelings of users to create products and services that truly meet their needs. Crucial for creating user-centered designs that resonate with users' emotions and experiences.
Information provided by users about their experience with a product, used to inform improvements and adjustments. Crucial for continuous improvement and user-centered design.
An approach to design that relies on data and analytics to inform decisions and measure success. Crucial for making informed design decisions that are backed by evidence.
The tendency for individuals to give positive responses or feedback out of politeness, regardless of their true feelings. Crucial for obtaining honest and accurate user feedback.
A decision-making strategy where individuals allocate resources proportionally to the probability of an outcome occurring, rather than optimizing the most likely outcome. Important for understanding decision-making behaviors and designing systems that guide better resource allocation.
An ongoing effort to improve products, services, or processes over time through incremental and breakthrough improvements. Crucial for fostering a culture of constant enhancement and adaptation.
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.
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.
A cognitive bias where people prefer the option that seems to eliminate risk entirely, even if another option offers a greater overall benefit. Important for understanding decision-making and designing risk communication for users.
Enterprise Architecture (EA) is a strategic framework used to align an organization's business strategy with its IT infrastructure. Crucial for optimizing processes, improving agility, and ensuring that technology supports business goals.
Monthly Recurring Revenue (MRR) is a metric that quantifies the predictable revenue generated each month from customers. This metric is crucial for SaaS companies to track financial health and growth.
The risk that users will find the product difficult or confusing to use, preventing them from effectively utilizing its features. Crucial for making sure the product is user-friendly and intuitive, enhancing the user experience and adoption.
The tendency for individuals to present themselves in a favorable light by overreporting good behavior and underreporting bad behavior in surveys or research. Crucial for designing research methods that mitigate biases and obtain accurate data.
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 bias that occurs when the sample chosen for a study or survey is not representative of the population being studied, affecting the validity of the results. Important for ensuring the accuracy and reliability of research findings and avoiding skewed data.
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 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.
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.
A comprehensive view of a customer that includes data from all interactions and touchpoints across the customer journey. Crucial for delivering personalized experiences and improving customer satisfaction.