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.
Responsive Web Design (RWD) is an approach to web design that makes web pages render well on a variety of devices and window or screen sizes. Essential for creating flexible, adaptive web experiences that maintain functionality and aesthetics across different platforms and devices.
A usability testing method where users interact with a system they believe to be autonomous, but which is actually operated by a human. Essential for testing concepts and interactions before full development.
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.
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.
Acquisition, Activation, Retention, Referral, and Revenue (AARRR) is a metrics framework for assessing user engagement and business performance. Important for product managers to understand customer lifecycle and optimize business growth.
A marketing technique focused on rapid experimentation across various channels and strategies to identify the most effective ways to grow a business. Important for quickly scaling businesses and achieving significant growth.
A type of bias that occurs when the observer's expectations or beliefs influence their interpretation of what they are observing, including experimental outcomes. Essential for ensuring the accuracy and reliability of research and data collection.
The economic theory that suggests limited availability of a resource increases its value, influencing decision-making and behavior. Important for creating urgency and increasing perceived value in marketing.
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.
A mathematical framework used to analyze strategic interactions where the outcomes depend on the actions of multiple decision-makers. Useful for designing systems and processes that involve competitive or cooperative interactions.
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 professional responsible for promoting a product and driving its adoption in the market, through strategies like market research, positioning, and communication. Crucial for ensuring that products reach their target audience and achieve commercial success.
The process of turning potential customers into paying customers, often measured by the conversion rate. Essential for understanding and optimizing the customer journey.
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.
The practice of dividing a customer base into distinct groups based on common characteristics. Crucial for targeting marketing efforts and personalizing customer interactions.
A specific group of people identified as the intended recipient of an advertisement or message. Essential for tailoring marketing efforts and achieving effective communication.
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.
Know Your Customer (KYC) is a process used by businesses to verify the identity of their clients and assess potential risks of illegal intentions for the business relationship. Essential for preventing fraud, money laundering, and terrorist financing, particularly in financial services, while also ensuring compliance with regulatory requirements and building trust with customers.
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 cognitive bias where people ignore general statistical information in favor of specific information. Critical for designers to use general statistical information to improve decision-making accuracy and avoid bias.
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.
Marketing Qualified Lead (MQL) is a prospective customer who has shown interest in a company's product or service and meets specific criteria indicating a higher likelihood of becoming a customer. Essential for prioritizing leads and optimizing the efficiency of sales and marketing efforts by focusing resources on prospects most likely to convert.
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.
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.
A cognitive bias where people ignore the relevance of sample size in making judgments, often leading to erroneous conclusions. Crucial for designers to account for appropriate sample sizes in research and analysis.
A bias that occurs when researchers' expectations influence the outcome of a study. Crucial for designing research methods that ensure objectivity and reliability.
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.
An experimental design where subjects are paired based on certain characteristics, and then one is assigned to the treatment and the other to the control group. Important for reducing variability and improving the accuracy of experimental results.
The percentage of leads that convert into customers. Crucial for measuring the effectiveness of marketing and sales efforts.
A pricing strategy that offers a middle option with substantial value at a moderate price, often perceived as the best deal by users. Useful for driving sales by presenting a balanced choice that appears more attractive relative to higher and lower-priced options.
The origins of visitors to a website, such as search engines, direct visits, social media, and referrals from other sites. Crucial for understanding and optimizing website traffic and marketing strategies.
ModelOps (Model Operations) is a set of practices for deploying, monitoring, and maintaining machine learning models in production environments. Crucial for ensuring the reliability, scalability, and performance of AI systems throughout their lifecycle, bridging the gap between model development and operational implementation.
The process of self-examination and adaptation in AI systems, where models evaluate and improve their own outputs or behaviors based on feedback. Crucial for enhancing the performance and reliability of AI-driven design solutions by fostering continuous learning and improvement.
The speed at which leads move through the sales funnel. Crucial for understanding and optimizing the sales process.
The process of distinguishing a product or service from its competitors in a way that is meaningful to the target market. Important for creating a unique value proposition and gaining a competitive edge.
A moment of significant change in a process or system, where the direction of growth, performance, or trend shifts markedly. Important for recognizing critical transitions in design or business strategies, enabling timely adjustments and informed decision-making.
A logical fallacy that occurs when one assumes that what is true for a part is also true for the whole. Important for avoiding incorrect assumptions in design and decision-making.