BI
Business Intelligence (BI) encompasses technologies, applications, and practices for the collection, integration, analysis, and presentation of business information. Crucial for making data-driven decisions and improving business performance.
184 topics found for:
“business insights”
Big Data Analytics
The process of examining large and varied data sets to uncover hidden patterns, correlations, and insights. Important for making informed business decisions and identifying opportunities for innovation and growth.
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.
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.
Analytics
The systematic computational analysis of data or statistics to understand and improve business performance. Essential for data-driven decision making in design, product management, and marketing.
Descriptive Analytics
The interpretation of historical data to identify trends and patterns. Important for understanding past performance and informing future decision-making.
Data Analytics
The practice of measuring and analyzing data about digital product adoption, usage, and performance to inform business decisions. Crucial for making data-driven decisions that improve product performance and user satisfaction.
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.
Business Analytics
The process of using statistical analysis and modeling to explore and interpret business data to make informed decisions. Essential for improving business performance, identifying opportunities for growth, and driving strategic planning.
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.
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.
MRD
Market Requirements Document (MRD) is a comprehensive document that outlines the market's needs, target audience, and business objectives for a product. It serves as a crucial tool for aligning product development efforts with market demands and business goals, ensuring that the final product meets customer needs and achieves market success.
NPS
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.
Strategic Differentiation
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.
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.
Competitive Intelligence
The process of gathering and analyzing information about competitors to inform business strategy and decision-making. Essential for understanding market positioning and developing effective competitive strategies.
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.
White Space
An area in a market or industry that is currently underserved or unaddressed, presenting opportunities for innovation and new business ventures. Important for identifying gaps in the market that can be filled with new products, services, or solutions.
Customer Loyalty
The likelihood that a customer will continue to buy from a particular company or brand over time. Crucial for maintaining a stable customer base and ensuring long-term business success.
Relationship Intelligence
The use of data and insights to understand and manage relationships with customers and prospects. Crucial for enhancing customer engagement and building stronger relationships.
TTV
Time to Value (TTV) is a metric that measures the time it takes for a customer to realize the value of a product or service after purchase. Crucial for optimizing customer satisfaction and improving business outcomes.
Market Gaps
Areas of unmet demand in a market where opportunities for growth and development exist. Essential for identifying new business opportunities.
SWOT Analysis
Strengths, Weaknesses, Opportunities, and Threats (SWOT) is a strategic planning tool that is applied to a business or project. Essential for strategic planning and decision-making.
Hockey Stick Growth
A pattern of rapid and sustained growth after a period of linear or stagnant growth, resembling the shape of a hockey stick. Crucial for understanding and planning for rapid expansion phases in digital product lifecycle and business strategy.
Viability Risk
The risk that the product will not be financially or strategically sustainable for the business, potentially leading to a lack of support or profitability. Essential for ensuring that the product aligns with business goals and can be maintained and supported long-term.
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.
Product Profitability
The financial performance of a product, measured by its ability to generate revenue and profit relative to its costs and expenses. Important for assessing the financial success of a product and making informed business decisions.
Annual Recurring Revenue
A metric that shows the revenue that a company can expect to receive annually from its customers for subscriptions or services. Essential for understanding business performance and growth potential.
Lead Conversion
The process of turning a lead into a customer. Important for driving business growth and measuring marketing effectiveness.
KPI
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.
AARRR
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.
Data Science
An interdisciplinary field that uses scientific methods, processes, algorithms and systems to extract knowledge and insights from structured and unstructured data. Essential for driving data-informed decision making, predicting trends, and uncovering valuable insights in digital product design and development.
Sales Metrics
Data points that represent an individual's, team's, or company's performance in the sales process. Essential for tracking progress, identifying issues, and optimizing sales strategies.
CSM
CSM (Customer Success Management) is a business methodology focused on ensuring customers achieve their desired outcomes while using a product or service. Crucial for driving customer retention and satisfaction.
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.
Behavioral Strategy
The use of behavioral science insights to inform and guide strategic decision-making in organizations. Crucial for developing strategies that effectively influence behavior and drive business success.
Market Validation
The process of determining whether there is a need or demand for a product in the target market, often through testing and feedback. Crucial for ensuring that a product will meet market needs and be successful.
Product-Led Growth
A business strategy where the product itself is the primary driver of customer acquisition, retention, and expansion, often through user experience and engagement. Essential for leveraging the product to drive business growth and achieve market success.
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.
BSC
Balanced Scorecard (BSC) is a strategic planning and management system used to align business activities to the vision and strategy of the organization. Essential for aligning business activities with organizational strategy and improving performance.
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.
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.
CRM
Customer Relationship Management (CRM) is a strategy for managing an organization's relationships and interactions with current and potential customers. Essential for improving business relationships and driving sales growth.
Behavioral Product Management
Managing product development with a focus on understanding and influencing user behavior through behavioral science principles. Essential for product managers to create user-centric products that drive desired behaviors.
Feedback Management
The process of systematically collecting, analyzing, and acting on feedback from users to improve products and services. Essential for ensuring that user insights are effectively integrated into the development process.
Feature Audit
A systematic evaluation of all features in a product to determine their usage, effectiveness, and alignment with business goals. Essential for optimizing product performance and user satisfaction.
CAB
Customer Advisory Board (CAB) is a group of key customers who provide feedback and insights to a company to help guide its strategic decisions. This group is crucial for aligning products and services with customer needs and expectations.
5V’s of Big Data
Characteristics of big data defined as Volume, Velocity, Variety, Veracity, and Value. Important for understanding the complexities and potential of big data in driving business insights and innovation.
Portfolio Management
Portfolio Management is the process of overseeing and coordinating an organization's collection of products to achieve strategic objectives. Crucial for balancing resources, maximizing ROI, and aligning products with business goals.
Scaling Fallacy
A cognitive bias where people underestimate the complexity and challenges involved in scaling systems, processes, or businesses. Important for understanding the difficulties of scaling and designing systems that address these challenges.
Brand Strategy
A long-term plan for the development and management of a brand to achieve specific goals. Essential for guiding brand development and ensuring alignment with business objectives.
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.
Red Ocean
A market space that is already crowded with competition, where companies fight for market share, leading to intense rivalry and lower profitability. Important for understanding competitive dynamics and market saturation in strategic planning.
Product Strategy
Product Strategy is a framework that outlines how a product will achieve its business goals and satisfy customer needs. Crucial for guiding product development, prioritizing features, and aligning the team around a clear vision.
Lead Conversion Rate
The percentage of leads that convert into customers. Crucial for measuring the effectiveness of marketing and sales efforts.
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.
PDCA Cycle
Plan, Do, Check, and Act (PDCA) is a four-step management method used for continuous improvement of processes and products. Essential for implementing and maintaining continuous improvement in business and design processes.
Go-to-Market (GTM)
A strategy or plan that outlines how a company will launch a product to market, including target audience, marketing tactics, and sales strategy. Essential for successfully launching products and capturing market share.
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.
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.