Impact Mapping
A strategic planning technique that uses visual maps to align activities with business goals and user needs. Essential for ensuring that development efforts are aligned with strategic objectives.
117 topics found for:
“strategic decision-making”
80/20 Rule
A principle stating that 80% of effects come from 20% of causes, often used to prioritize tasks and identify key areas of focus. Essential for prioritizing tasks and focusing efforts on the most impactful areas.
Competitive Landscape
The overall market environment in which a business operates, including the strengths and weaknesses of competitors. Important for understanding the market context and identifying opportunities and threats.
Design Principles
Fundamental guidelines that inform and shape the design process, ensuring consistency, usability, and effectiveness in product creation. Essential for creating coherent, user-centered designs that align with organizational goals and user needs.
IBP
Integrated Business Planning (IBP) is a process that aligns strategic, operational, and financial planning to optimize business performance. It ensures cohesive and efficient planning across all functions.
VUCA
Volatility, Uncertainty, Complexity, and Ambiguity (VUCA) is an acronym for describing the challenging conditions of the modern world. Important for understanding and navigating dynamic and unpredictable environments.
Competitive Analysis
A strategic research process that involves evaluating competitors' products, services, and market positions to identify opportunities and threats. Essential for informing product strategy, differentiating offerings, and gaining a competitive advantage in the market.
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.
PMO
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.
Action Priority Matrix
A tool used to prioritize tasks based on their impact and effort, helping to focus on high-value activities. Important for prioritizing tasks effectively to maximize impact with minimal effort.
Big Data
Extremely large data sets that can be analyzed computationally to reveal patterns, trends, and associations. Crucial for gaining insights and making data-driven decisions.
Data Visualization
The representation of data through graphical elements like charts, graphs, and maps to facilitate understanding and insights. Essential for making complex data accessible and actionable for users.
Forecasting
The process of making predictions about future trends based on current and historical data. Useful for anticipating user needs and market trends to inform design decisions.
Predictive Analytics
The use of statistical techniques and algorithms to analyze historical data and make predictions about future outcomes. Important for optimizing marketing strategies and anticipating customer needs.
Placement Bias
A cognitive bias where people overemphasize information that is placed prominently or in a way that catches their attention first. Crucial for designing interfaces and information displays that manage user attention effectively.
Thin Data
Quantitative data that provides broad, numerical insights but often lacks the contextual depth that thick data provides. Useful for capturing high-level trends and patterns, but should be complemented with thick data to gain a deeper understanding of user behavior and motivations.
Performance Metrics
Measurements used to evaluate the success of an organization, employee, or process in meeting goals. Necessary for assessing performance and driving continuous improvement.
Law of Diminishing Returns
A principle stating that as investment in a single area increases, the rate of return on that investment eventually decreases. Important for understanding and optimizing resource allocation in product design and development.
Deductive Research
A research approach that starts with a theory or hypothesis and uses data to test it, often moving from general to specific. Essential for validating theories and making informed decisions based on data.
Data Architect
A professional responsible for designing and managing data structures, storage solutions, and data flows within an organization. Important for ensuring efficient data management and supporting data-driven decision-making in digital product design.
Social Benchmarking
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.
Decoy Pricing
A strategy where an additional, less attractive option is introduced to make other pricing options look more appealing, often steering customers towards a particular choice. Important for guiding user decisions and increasing the perceived value of targeted pricing tiers.
Vanity Metrics
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.
Sales Forecasting
The process of estimating future sales based on historical data, trends, and market analysis. Crucial for setting realistic sales targets and planning resources effectively.
Enterprise Architecture
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.
Design Advocacy
The practice of promoting and defending the value of design within an organization or community. Crucial for ensuring that design considerations are prioritized and integrated into decision-making processes.
ERP
Enterprise Resource Planning (ERP) are integrated software systems that manage business processes across various departments, such as finance, HR, and supply chain. Essential for improving operational efficiency and providing a unified view of business operations.
Longitudinal Study
A research method that involves repeated observations of the same variables over a period of time. Crucial for understanding changes and developments over time.
Product Manager
A professional responsible for the strategy, roadmap, and feature definition of a product or product line, ensuring it meets market needs and business goals. Essential for guiding the development and success of products from conception to market.
PI Planning
Program Increment (PI) Planning is a cadence-based event that serves as the heartbeat of the Agile Release Train, aligning teams on goals and priorities for the next increment. Crucial for aligning teams, setting goals, and planning work.
Story Mapping
A visual exercise that helps product teams understand and prioritize features by organizing user stories into a cohesive narrative that aligns with user journeys and goals. Essential for planning and prioritizing product features and ensuring alignment with user needs.
Business Viability
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.
Lead Scoring
The process of ranking leads based on their perceived value to the organization. Useful for prioritizing sales efforts and improving conversion rates.
Product Operating Model
A framework that outlines how a product is developed, managed, and delivered, including roles, processes, and tools used throughout its lifecycle. Crucial for ensuring efficient and effective product management and development.
PAR
Performance and Accountability Reporting (PAR) is a comprehensive document that outlines an organization's performance in achieving its goals and its accountability in managing resources. This report is essential for transparency, governance, and continuous improvement.
SCR
Situation-Complication-Resolution (SCR) is a communication and problem-solving framework used to structure information clearly and logically. Crucial for effectively conveying complex ideas and solutions in business and design contexts.
MRR
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.
Feasibility Study
An analysis that assesses the practicality and potential success of a proposed project or system. Crucial for determining the viability and planning of new initiatives.
MECE
Mutually Exclusive, Collectively Exhaustive (MECE) is a problem-solving framework ensuring that categories are mutually exclusive and collectively exhaustive, avoiding overlaps and gaps. Essential for structured thinking and comprehensive analysis in problem-solving.
BPA
Business Process Automation (BPA) refers to the use of technology to automate complex business processes. Essential for streamlining operations, reducing manual effort, and increasing efficiency in recurring tasks.
Design Maturity
The level of sophistication and integration of design practices within an organization's processes and culture. Essential for assessing and improving the effectiveness of design in driving business value and innovation.
ARPA
Average Revenue Per Account (ARPA) is a metric used to measure the average revenue generated per user or account. Crucial for understanding and optimizing revenue streams in subscription-based businesses.
Technical Product Manager
A role that involves overseeing the development and improvement of technical products, ensuring they meet user needs and business goals. Crucial for bridging the gap between technical teams and business objectives, ensuring successful product development.
Content Inventory
A comprehensive list of all content within a system, used to manage and optimize content. Essential for organizing, auditing, and improving content strategy.
Six Sigma
A data-driven methodology aimed at improving processes by identifying and removing defects, and reducing variability. Crucial for enhancing the quality and efficiency of digital product development processes.
Chivas Regal Effect
The phenomenon where higher-priced products are perceived to be of higher quality, regardless of the actual quality. Useful for understanding consumer perceptions and designing effective pricing strategies.
EPM
Enterprise Project Management (EPM) is a comprehensive approach to managing projects across an entire organization. Essential for coordinating complex, cross-functional projects and achieving organizational objectives.
Project Management
The abilities and knowledge required to effectively plan, execute, and close projects, including leadership, communication, time management, and risk management. Essential for ensuring successful project outcomes and achieving business objectives.
Lead Conversion Rate
The percentage of leads that convert into customers. Crucial for measuring the effectiveness of marketing and sales efforts.
ART
Agile Release Train (ART) is a long-lived team of Agile teams that, along with other stakeholders, incrementally develops, delivers, and operates one or more solutions in a value stream. Important for coordinating Agile development and delivery at scale.
Product Discovery
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.
Demand Forecasting
The process of predicting future customer demand using historical data and other information. Crucial for optimizing inventory levels, production schedules, and supply chain management.
Funnel Metrics
Measurements that track the effectiveness of each stage of the funnel, such as conversion rates and drop-off points. Crucial for identifying areas of improvement in the customer journey.
Risk Management
The process of identifying, assessing, and mitigating potential threats that could impact the success of a digital product, including usability issues, technical failures, and user data security. Essential for maintaining product reliability, user satisfaction, and data protection, while minimizing the impact of potential design and development challenges.
Digital Product Manager
A role focused on overseeing the development, launch, and lifecycle of digital products, ensuring they meet market needs and business goals. Essential for integrating digital product strategy and development.
Innovation Management
The systematic approach to managing innovation processes, from idea generation to implementation. Crucial for effectively harnessing creativity and ensuring successful innovation outcomes.
Demographic
Statistical data relating to a particular population and groups within it. Crucial for market research and understanding target audiences.