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.
The cognitive bias where people treat a set of items as more significant when they are perceived as a cohesive group. Important for understanding user perception and decision-making.
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.
A statistical rule stating that nearly all values in a normal distribution (99.7%) lie within three standard deviations (sigma) of the mean. Important for identifying outliers and understanding variability in data, aiding in quality control and performance assessment in digital product design.
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.
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.
3-Tiered Architecture is a software design pattern that separates an application into three layers: presentation, logic, and data. Crucial for improving scalability, maintainability, and flexibility in software development.
A product development approach where teams start with the desired customer experience and work backwards to determine what needs to be built to achieve that outcome. Essential for ensuring that product development is aligned with customer needs and expectations.
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.
Numeronym for the word "Interoperability" (I + 14 letters + Y), the ability of different systems, devices, or applications to work together and exchange information effectively without compatibility issues. Crucial for ensuring compatibility and integration between systems.
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 type of artificial intelligence capable of generating new content, such as text, images, and music, by learning from existing data. Important for automating creative processes and generating novel outputs.
The study of social relationships, structures, and processes. Important for understanding the impact of social dynamics on user behavior and designing for social 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 concept that humans make decisions within the limits of their knowledge, cognitive capacity, and available time, leading to satisficing rather than optimal solutions. Crucial for designing systems and processes that account for human cognitive limitations and decision-making processes.
An experimental design where different groups of participants are exposed to different conditions, allowing for comparison between groups. Important for understanding and applying different experimental designs in user research.
The process of testing product ideas and assumptions with real customers to ensure they meet market needs. Essential for reducing risk and ensuring product-market fit.
Systematic errors in AI models that arise from the data or algorithms used, leading to poor outcomes. Important for ensuring fairness and accuracy in AI systems.
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.
The process of turning potential customers into paying customers, often measured by the conversion rate. Essential for understanding and optimizing the customer journey.
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.
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.
Explainable AI (XAI) are AI systems that provide clear and understandable explanations for their decisions and actions. This transparency is crucial for building trust and confidence in AI applications across various domains.
The practice of dividing a customer base into distinct groups based on common characteristics. Crucial for targeting marketing efforts and personalizing customer interactions.
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.
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.
A behavioral economics model that explains decision-making as a conflict between a present-oriented "doer" and a future-oriented "planner". Useful for understanding user decision-making and designing interventions that balance short-term and long-term goals.
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.
A cognitive bias where individuals evaluate the value of bundled items differently than they would if the items were evaluated separately. Important for understanding user behavior and designing effective product bundles and pricing strategies.
The process of comparing design metrics to historical performance, competitive standards, or industry best practices to identify areas for improvement. Crucial for measuring progress, improving practice maturity, and evaluating competitive differentiation.
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.
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.
The study of how psychological influences affect financial behaviors and decision-making. Essential for understanding and influencing financial decision-making and behavior.
The application of neuroscience principles to marketing, aiming to understand consumer behavior and improve marketing strategies. Important for creating more effective and engaging marketing campaigns.
A metric used to rank leads based on their engagement with a brand, indicating their readiness to purchase. Crucial for prioritizing leads and improving sales efficiency.
A set of metadata standards used to describe digital resources, facilitating their discovery and management. Important for ensuring effective organization and retrieval of digital assets in product design and development.
A concept in behavioral economics that describes how future benefits are perceived as less valuable than immediate ones. Important for understanding user preferences and designing experiences that account for time-based value perceptions.
A specific group of people identified as the intended recipient of an advertisement or message. Essential for tailoring marketing efforts and achieving effective communication.
A problem-solving method that involves asking "why" five times to identify the root cause of a problem. Useful for designers and product managers to uncover underlying issues and improve processes and solutions.
Voice of the Customer (VOC) is a process for capturing customers' expectations, preferences, and aversions. Crucial for guiding product development and improving customer satisfaction.
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.
A technique used to prime an audience before delivering a persuasive message. Essential for enhancing the effectiveness of persuasive communication by shaping audience receptivity.
The rate at which customers stop using a product or service, often used as a metric to measure customer retention. Crucial for understanding customer behavior and improving retention strategies.
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.
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.
Artificial Intelligence of Things (AIoT) is the integration of AI with the Internet of Things (IoT) to create smart systems that can learn and adapt. Crucial for developing advanced, intelligent products that offer enhanced user experiences and operational efficiencies.
The process of making small, continuous improvements to products, services, or processes over time. Important for sustaining growth and maintaining competitiveness through ongoing improvements.
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.
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.
The process of combining multiple products or product lines into a single offering to streamline operations and reduce complexity. Useful for optimizing product portfolios and improving operational efficiency.
The compromises made between different design options, balancing various factors like usability, aesthetics, and functionality. Essential for making informed decisions that optimize overall design effectiveness.
A prioritization framework used to assess and compare the value a feature will deliver to users against the complexity and cost of implementing it. Crucial for making informed decisions about feature prioritization and resource allocation.
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.
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.
The ability of a system, product, or process to handle increased loads or expand without compromising performance or efficiency. Essential for ensuring that products and systems can grow and adapt to increasing demands.
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 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.
The practice and science of classification, often used to organize content and information. Essential for improving findability and usability in information systems.