215 topics found for:

“model”

Kano Model

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.

MVC

Model-View-Controller (MVC) is an architectural pattern that separates an application into three main logical components: the Model (data), the View (user interface), and the Controller (processes that handle input). Essential for creating modular, maintainable, and scalable software applications by promoting separation of concerns.

Tribe

A collection of multiple squads working in the same domain or on related projects, typically consisting of 40-150 people. Important for ensuring alignment and coordination across related squads, fostering a larger community with shared goals.

Ontology vs. Taxonomy

Ontology is a comprehensive model that includes entities, their attributes, and the complex relationships between them, while taxonomy is a hierarchical classification system that organizes entities into parent-child relationships. Essential for understanding the depth and scope of data organization, helping to choose the appropriate structure for information management and retrieval.

LTV

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.

Sales Funnel

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.

NPD

New Product Development (NPD) is the complete process of bringing a new product to market, from idea generation to commercialization. Essential for companies to innovate, stay competitive, and meet evolving customer needs through a structured approach to creating and launching new offerings.

Prospect Theory

A behavioral economic theory that describes how people choose between probabilistic alternatives that involve risk, where the probabilities of outcomes are known. Crucial for understanding decision-making under risk and designing systems that align with user behavior.

Central Limit Theorem

A statistical theory that states that the distribution of sample means approximates a normal distribution as the sample size becomes larger, regardless of the population's distribution. Important for making inferences about population parameters and ensuring the validity of statistical tests in digital product design.

ROI

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.

Outliers

Data points that differ significantly from other observations and may indicate variability in a measurement, experimental errors, or novelty. Crucial for identifying anomalies and ensuring the accuracy and reliability of data in digital product design.

Negative Prompt

In AI and machine learning, a prompt that specifies what should be avoided or excluded in the generated output, guiding the system to produce more accurate and relevant results. Crucial for refining AI-generated content by providing clear instructions on undesired elements, improving output quality and relevance.

SDLC

Software Development Life Cycle (SDLC) is a process for planning, creating, testing, and deploying an information system. Essential for managing the complexities of software development and ensuring project success.