Expected Utility Theory
A theory in economics that models how rational individuals make decisions under risk by maximizing the expected utility of their choices. Essential for understanding decision-making under risk.
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“structured data”
Customer Journey
The complete set of experiences that customers go through when interacting with a company, from initial contact to post-purchase. Essential for understanding and optimizing each touchpoint in the customer lifecycle.
Opportunity Solution Tree
A visual tool that maps out opportunities and the corresponding solutions, helping teams identify and prioritize where to focus their efforts. Crucial for strategic planning and ensuring alignment between problems and solutions.
Goal Gradient Effect
The tendency for people to feel more motivated and accelerate their efforts as they get closer to achieving a goal. Important for designing systems that motivate users effectively.
Expectation Bias
A cognitive bias where individuals' expectations influence their perceptions and judgments. Relevant for understanding how expectations skew perceptions and decisions among users.
Principle of Choices
The Principle of Choices is an information architecture guideline that emphasizes providing users with meaningful options to navigate and interact with a system. Crucial for enhancing user experience by ensuring users can easily find what they need without being overwhelmed.
Customer Development
A framework for discovering and validating the right market for a product, building the right product features, and validating the business model. Important for ensuring that products meet market needs and customer expectations.
Design Sprint
A time-constrained, intensive process that helps teams quickly design, prototype, and test ideas. Important for rapidly developing and validating design solutions.
Opportunity Scoring
A technique used to prioritize product features based on the potential impact on customer satisfaction and business goals. Essential for aligning product development efforts with user needs and business objectives.
ToFu
Top of Funnel (ToFu) is the initial stage in the sales funnel where potential customers become aware of a product or service. Crucial for generating leads and building brand awareness.
JAD
Joint Application Development (JAD) is a collaborative approach to gathering requirements and designing solutions in software development projects. It facilitates rapid decision-making and consensus-building by bringing together key stakeholders, including users, developers, and project managers, in structured workshop sessions.
Operational Risk
The risk of loss resulting from inadequate or failed internal processes, people, and systems. Important for identifying and mitigating potential operational threats.
GIST Planning
Goals, Ideas, Steps, and Tasks (GIST) is an agile planning technique to break down projects into manageable parts. Essential for organizing and executing agile projects effectively.
Scrumban
A hybrid Agile project management framework that combines elements of Scrum and Kanban to improve flexibility and workflow management. Useful for teams seeking to blend the structured approach of Scrum with the visual workflow of Kanban.
Ideation
The process of generating a broad set of ideas on a given topic, with no attempt to judge or evaluate them initially. Crucial for creative problem-solving and developing innovative solutions in product design and development.
Weighted Scoring
A prioritization method that assigns different weights to criteria based on their importance, helping to make informed decisions and prioritize tasks effectively. Crucial for making objective and balanced decisions in project management and product development.
Stages of Change Model
A psychological model that outlines the stages individuals go through to change behavior, including precontemplation, contemplation, preparation, action, and maintenance. Crucial for designing interventions and experiences that support users at different stages of behavior change.
Ivy Lee Method
A productivity technique where individuals list their six most important tasks for the next day and tackle them in order of priority. Important for enhancing focus and productivity by prioritizing tasks effectively.
REST
Representational State Transfer (REST) is an architectural style for designing networked applications based on stateless, client-server communication. Essential for building scalable and efficient web services.
Cross-Selling
The practice of selling additional products or services to an existing customer. Essential for increasing revenue and enhancing customer value.
Idea Management
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.
Operational Efficiency
The ability to deliver products or services in the most cost-effective manner without sacrificing quality. Key to reducing costs and improving profitability.
SRS
Software Requirements Specification (SRS) is a detailed document that outlines the functional and non-functional requirements of a software system. Crucial for ensuring clear communication and understanding between stakeholders and the development team.
Squad
A small, cross-functional team of 6-12 people focused on delivering a specific product feature or component. Essential for agile development, allowing for rapid iteration and close collaboration among team members.
OODA Loop
Observe, Orient, Decide, and Act (OODA) is a decision-making framework often used in strategic planning and rapid response situations. Crucial for agile decision-making and strategic planning in dynamic environments.
Test Marketing
A marketing strategy that involves releasing a product to a limited audience to evaluate its market performance before a full-scale launch. Important for assessing market response, identifying potential issues, and refining digital products before a wider release.
Behavioral Insights
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.
ICE Scoring Model
Impact, Confidence, and Ease of implementation (ICE) is a prioritization framework used in product management to evaluate features. Essential for making informed and strategic decisions about feature development and prioritization.
Technology Ethics
The study and application of ethical considerations in the development, implementation, and use of technology. Crucial for ensuring that technological advancements align with ethical standards and societal values.
LLM
Large Language Model (LLM) is an advanced artificial intelligence system trained on vast amounts of text data to understand and generate human-like text. Essential for natural language processing tasks, content generation, and enhancing human-computer interactions across various applications in product design and development.
Behavioral Finance
The study of how psychological influences affect financial behaviors and decision-making. Essential for understanding and influencing financial decision-making and behavior.
Omnichannel
A seamless and integrated customer experience across multiple channels, such as online, mobile, and in-store. Crucial for providing a consistent and cohesive user experience, enhancing customer satisfaction and loyalty in digital products.
Choice Architecture
The practice of organizing the context in which people make decisions to influence the outcomes, often used to nudge users towards certain behaviors. Crucial for designing user experiences that guide decision-making and improve outcomes.
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.
Behavioral Economics
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.
Crit
Crit (Design Critique) is a structured feedback session where designers present their work and receive constructive feedback from peers. Essential for refining design quality through collaborative input.
Scannability
The ease with which users can quickly find and understand information on a webpage or document, often enhanced by design elements like headings, bullet points, and short paragraphs. Crucial for improving user experience and ensuring that content is accessible and easy to navigate.
OKR
Objectives and Key Results (OKR) is a goal-setting framework for defining and tracking objectives and their outcomes. Essential for aligning organizational goals, improving focus and engagement, and driving measurable results across teams and individuals.
Chapter
A group of individuals with similar skills or expertise, spread across different squads, who come together to share knowledge and best practices. Crucial for maintaining technical excellence and fostering professional development within specific disciplines.
Gantt Chart
A type of bar chart that represents a project schedule, showing the start and finish dates of elements within the project. Important for planning and visualizing project timelines and dependencies.
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.
Behavior Enrichments
Modifications or additions to a system that encourage specific user behaviors. Important for guiding user actions and improving the effectiveness of interactions.
POD
Product-Oriented Delivery (POD) is a methodology that focuses on organizing teams around products rather than projects. This approach is essential for enhancing product focus, agility, and cross-functional collaboration.
SOM
Serviceable Obtainable Market (SOM) is the portion of the Serviceable Addressable Market that a company can realistically capture. Essential for setting achievable sales and market share goals.
House of Brands
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.
Channel
A medium through which a product or service is delivered to a customer, including physical and digital channels. Crucial for understanding how products and services reach end users.
Regressive Bias
A cognitive bias where individuals overestimate the likelihood of extreme events regressing to the mean. Crucial for understanding decision-making and judgment under uncertainty.
Hook Model
A framework for designing habit-forming products that includes four phases: Trigger, Action, Variable Reward, and Investment. Crucial for creating engaging and sticky user experiences.
Value Innovation
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.
Mobile-First Indexing
A practice by Google where the mobile version of a website becomes the starting point for what Google includes in its index and the baseline for determining rankings. Crucial for ensuring websites are optimized for mobile users and perform well in search rankings.
Brand Extension
The practice of using an established brand name to introduce new products or services. Essential for leveraging brand equity to expand product lines and enter new markets.
Activation Rate
The percentage of users who take a specific action that signifies they are engaging with a product or service. Important for measuring user engagement and the effectiveness of onboarding processes.
Endowment Effect
A cognitive bias where people ascribe more value to things merely because they own them. Useful for understanding user attachment and designing persuasive experiences.
AWS
Amazon Web Services (AWS) is a comprehensive cloud computing platform provided by Amazon that offers a wide range of services including computing power, storage, and databases. Crucial for enabling scalable, cost-effective, and flexible IT infrastructure solutions for businesses of all sizes.
Planning Fallacy
A cognitive bias where individuals underestimate the time, costs, and risks of future actions while overestimating the benefits. Important for realistic project planning and setting achievable goals for designers.
Cost-Benefit
An analysis comparing the costs and benefits of a decision or project to determine its feasibility and value. Important for making informed business and design decisions.
SAM
Serviceable Addressable Market (SAM) is the portion of the Total Addressable Market that a company can target with its products and services. Essential for focusing marketing and sales efforts on reachable segments.
HITL
Human in the Loop (HITL) integrates human judgment into the decision-making process of AI systems. Crucial for ensuring AI reliability and alignment with human values.
Mnemonic Device
A memory aid that helps individuals recall information through associations, patterns, or acronyms. Important for designing educational content and interfaces that enhance memory retention.
Brand Audit
A thorough examination of a brand's current position in the market and its effectiveness in reaching its goals. Important for assessing brand health and identifying areas for improvement.