3. Terminology relevant for this pathway
CATEGORY
IMPORTANT TERM
SIMPLE DEFINITION
Development Principles
Agile Development
Adaptive development methodology
Development Principles
Behavioral Science
Understanding human behavior to enhance product appeal
Development Principles
Lean Development
Efficient development with minimal waste
Development Principles
Waterfall Methodology
Sequential development approach
Development Principles
DevOps
Collaboration between development and IT operations
Development Principles
Scrum
Agile framework for managing projects
Development Principles
Kanban
Visual workflow management method
Development Principles
Iterative Development
Repeating stages for continuous improvement
Development Principles
Six Sigma
Methodology aimed at process improvement and operational excellence
Management Principles
Management
Coordinating efforts to achieve goals and objectives
Management Principles
Leadership
Inspiring and guiding individuals or teams
Management Principles
Decision-Making
Evaluating options and choosing effective actions
Management Principles
Time Management
Efficiently managing time to complete tasks
Management Principles
Risk Management
Identifying and managing potential risks
Management Principles
Conflict Resolution
Addressing and resolving disagreements or issues
Management Principles
Delegation
Assigning tasks or responsibilities to others
Management Principles
Team Building
Creating effective and collaborative teams
Market Analysis
Data-Driven Innovation
Using data to guide innovation and decisions
Market Analysis
Market Trends
Tracking shifts and patterns in the market
Market Analysis
Segmentation
Dividing the market into target groups
Market Analysis
Competitive Analysis
Assessing competitors to find advantages and disadvantages
Market Analysis
Customer Insights
Understanding customer behavior and needs
Market Analysis
Customer Journey Mapping
Visual representation of customer's interaction with a brand
Market Analysis
Product-Market Fit
Degree to which a product satisfies market demand
Market Analysis
Market Penetration
How much a product is being used compared to the total market
Market Analysis
Market Research
Gathering data to understand market needs and opportunities
Planning & Strategy
Strategic Roadmapping
Long-term planning for product direction
Planning & Strategy
SWOT Analysis
Analyzing Strengths, Weaknesses, Opportunities, and Threats
Planning & Strategy
PESTLE Analysis
Evaluating Political, Economic, Social, Technological, Legal, and Environmental factors
Planning & Strategy
OKRs (Objectives and Key Results)
Framework for defining and tracking objectives and outcomes
Planning & Strategy
Go-To-Market Strategy
Plan for how a product will be sold and who will buy it
Planning & Strategy
KPIs (Key Performance Indicators)
Metrics used to evaluate success
Technology & Innovation
Emerging Technologies
Adapting to new technological trends
Technology & Innovation
Tech-Driven Solutions
Leveraging technology to improve product
Technology & Innovation
Cloud Computing
Using remote servers for data storage and computing
Technology & Innovation
Cybersecurity
Protecting systems and data from cyber threats
Technology & Innovation
AI & Machine Learning
Implementing AI to improve product
Technology & Innovation
Internet of Things (IoT)
Network of physical devices connected by the internet
Technology & Innovation
Virtual Reality (VR)
Simulated experience using computer technology
Technology & Innovation
Augmented Reality (AR)
Overlay of digital information on the real world
Customer Relations
Customer Engagement
Building and maintaining customer relationships
Customer Relations
Customer Experience (CX)
Overall feeling customers have when interacting with a brand
Customer Relations
Customer Retention
Strategies to keep customers loyal
Customer Relations
Customer Segmentation
Dividing the customer base into specific groups
Customer Relations
Customer Lifetime Value (CLV)
Total worth of a customer over their relationship
Customer Relations
Customer Satisfaction
Measure of how well a service meets customer expectations
Customer Relations
Customer Feedback
Insights provided by customers about their experience
Design Principles
Design
Plan and process of creating specific things
Design Principles
Human-Centered Design
Focusing on user needs and experiences
Design Principles
Responsive Design
Designs that work on various devices
Design Principles
Prototyping
Creating preliminary models for testing and improvement
Design Principles
Design Thinking
Methodology for problem-solving
Design Principles
Wireframing
Creating a basic, visual representation of a design
Design Principles
A/B Testing
Comparing two versions to determine which performs better
Design Principles
Systems Thinking
A holistic approach to problem-solving, emphasizing interconnections and patterns
Service Innovation
Service Blueprinting
Structured visualization of service components and processes
Service Innovation
Innovation Processes
Systematic methods for generating new ideas
Service Innovation
Facilitation
Guiding teams through problem-solving and ideation
Service Innovation
Open Innovation
Collaborative innovation with external entities
Service Innovation
Digital Transformation
Integration of digital technologies into all areas of a business
User Experience (UX)
User Experience Design (UXD)
Designing the overall user experience
User Experience (UX)
User Interface Design (UID)
Creating visual and interactive components
User Experience (UX)
Usability Testing
Evaluating a product's user interface and overall experience
User Experience (UX)
User Flows
Diagrams that outline the steps a user takes to complete a task
User Experience (UX)
UX Research
Gathering insights about user behaviors and attitudes
User Experience (UX)
Interaction Design
Designing interactive systems for human use
User Experience (UX)
Microinteractions
Small design elements that facilitate user engagement
User Experience (UX)
User Personas
Semi-fictional characters based on actual users representing different user types
User Experience (UX)
UX Metrics
Specific measurements to evaluate user experience
User Experience (UX)
Accessibility
Designing experiences accessible to all users
User Experience (UX)
Heuristic Evaluation
Usability inspection of an offering based on established guidelines
User Experience (UX)
Cognitive Walkthrough
Step-by-step review of a task to identify usability issues
User Experience (UX)
Touchpoint Analysis
Examining every point of contact a user has with a service
User Experience (UX)
Information Architecture
Structuring and organizing content in a meaningful way
User Experience (UX)
Affinity Mapping
Organizing ideas based on their relationships and connections
User Experience (UX)
Journey Mapping
Visualization of a user's experience with a product over time
User Experience (UX)
Feedback Loop
System where outputs are fed back into the system as inputs
Product Development
Feature Set
The collection of features and functionalities that make up a product, contributing to its overall value and user experience
Product Development
Wireframe
A visual representation of a user interface, outlining the layout and functionality of a product without design elements
Product Development
Churn Rate
The rate at which customers discontinue using a product, often indicating issues with retention and user satisfaction
Product Development
Customer Lifetime Value (CLV)
The projected revenue a customer is expected to generate for a business throughout their entire relationship with the company
Product Development
Monetization Strategy
The plan for generating revenue from a product, including pricing models, subscription plans, and freemium options