The spread and pattern of data values in a dataset, often visualized through graphs or statistical measures. Critical for understanding the characteristics of data and informing appropriate analysis techniques in digital product development.
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.
Data points that differ significantly from other observations and may indicate variability in a measurement, experimental errors, or novelty. Crucial for identifying anomalies and ensuring the accuracy and reliability of data in digital product design.
A statistical measure that quantifies the amount of variation or dispersion of a set of data values. Essential for understanding data spread and variability, which helps in making informed decisions in product design and analysis.
An approach to design that relies on data and analytics to inform decisions and measure success. Crucial for making informed design decisions that are backed by evidence.
The practice of using data analytics and metrics to make informed decisions, focusing on measurable outcomes and efficiency rather than intuition or traditional methods. Important for optimizing design processes, improving product performance, and making data-driven decisions that enhance user experience and business success.
Also known as the 68-95-99.7 Rule, it states that for a normal distribution, nearly all data will fall within three standard deviations of the mean. Important for understanding the distribution of data and making predictions about data behavior in digital product design.
The process of designing, developing, and managing tools and techniques for measuring performance and collecting data. Essential for monitoring and improving system performance and user experience.
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.
A research method that focuses on collecting and analyzing numerical data to identify patterns, relationships, and trends, often using surveys or experiments. Essential for making data-driven decisions and validating hypotheses with statistical evidence.
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.
Quantitative measures used to track and assess the performance and success of a product, such as usage rates, customer satisfaction, and revenue. Essential for making data-driven decisions to improve product performance and achieve business goals.
A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter. Essential for making inferences about population parameters and understanding the precision of estimates in product design analysis.
A research design where the same participants are used in all conditions of an experiment, allowing for the comparison of different conditions within the same group. Essential for reducing variability and improving the reliability of experimental results.
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.
The use of data from digital devices to measure and understand individual behavior and health patterns. Crucial for developing personalized user experiences and health interventions.
Define, Measure, Analyze, Improve, and Control (DMAIC) is a data-driven improvement cycle used in Six Sigma. Crucial for systematically improving processes and ensuring quality in digital product development.
A framework that incorporates privacy considerations into the design and development of products and services from the outset. Crucial for ensuring user privacy and compliance with data protection regulations.
Measurements used to evaluate the success of an organization, employee, or process in meeting goals. Necessary for assessing performance and driving continuous improvement.
The process by which a measure or metric comes to replace the underlying objective it is intended to represent, leading to distorted decision-making. Important for ensuring that metrics accurately reflect true objectives and designing systems that prevent metric manipulation.
The practice of protecting systems, networks, and programs from digital attacks, unauthorized access, and data breaches. Essential for safeguarding sensitive information, maintaining user trust, and ensuring the integrity and functionality of digital products and services.
Return on Investment (ROI) is a performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of different investments. Crucial for assessing the financial effectiveness of business decisions, projects, or initiatives.
The percentage of users who continue to use a product or service over a specified period, indicating user loyalty and engagement. Essential for assessing the effectiveness of user retention strategies and improving user experience.
The principle that the more a metric is used to make decisions, the more it will be subject to corruption and distort the processes it is intended to monitor. Important for understanding the limitations and potential distortions of metrics in design and evaluation.
The use of biological data (e.g., fingerprints, facial recognition) for user authentication and interaction with digital systems. Crucial for enhancing security and user experience through advanced authentication methods.
Specific, Measurable, Achievable, Relevant, and Time-bound (SMART) Goals are a framework for setting and achieving clear objectives. Essential for setting clear and actionable objectives in personal and professional contexts.
A dark pattern where the user is tricked into publicly sharing more information about themselves than they intended. Designers must avoid this deceptive practice and ensure clear, consensual data sharing to respect user privacy.
Feature Adoption Rate (FAR) is the percentage of users who adopt a new feature within a specified time period after its release. This metric is important for measuring the success and impact of new product features.
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.
Cost Per Objective Option (CPOO) is a metric used to measure the cost efficiency of different marketing options based on achieving specific objectives. This metric is crucial for optimizing marketing spend and measuring campaign effectiveness.
The extent to which a measure represents all facets of a given construct, ensuring the content covers all relevant aspects. Important for ensuring that assessments and content accurately reflect the intended subject matter.
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.
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.
A measure used in Agile project management to quantify the amount of work a team can complete in a given sprint, typically measured in story points. Crucial for planning and forecasting in Agile projects and understanding team capacity.
Happiness, Engagement, Adoption, Retention, and Task (HEART) is a framework used to measure and improve user experience success. Important for systematically evaluating and enhancing user experience.
Measurements that track the effectiveness of each stage of the funnel, such as conversion rates and drop-off points. Crucial for identifying areas of improvement in the customer journey.
Return on Advertising Spend (ROAS) measures the revenue generated for every dollar spent on advertising. Essential for assessing the effectiveness and profitability of marketing campaigns.
The speed at which users start using a new product, typically measured as a percentage of the target market over a specific period. Essential for evaluating the success of a product launch and planning subsequent strategies.
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.
The percentage of leads that convert into customers. Crucial for measuring the effectiveness of marketing and sales efforts.
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.
The theory that people adjust their behavior in response to the perceived level of risk, often taking more risks when they feel more protected. Important for designing safety features and understanding behavior changes in response to risk perception.
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.
Application Programming Interface (API) is a set of tools and protocols that allow different software applications to communicate and interact with each other. Essential for integrating different systems and enabling functionality in digital products.
The speed at which leads move through the sales funnel. Crucial for understanding and optimizing the sales process.
A lead that has successfully become a customer. Crucial for measuring the effectiveness of marketing and sales strategies.
The ability of a product or service to keep users engaged and returning over time, often measured by metrics such as retention rate. Crucial for evaluating user loyalty and the long-term success of a product.
Customer Acquisition Cost (CAC) is the total cost associated with acquiring a new customer, including marketing and sales expenses. Essential for evaluating the efficiency and effectiveness of marketing strategies.
Below the Line (BTL) refers to marketing activities targeting specific consumer groups through direct channels. Essential for personalized marketing and building deeper customer relationships.
The practice of comparing performance metrics to industry bests or best practices from other companies. Essential for identifying performance gaps and opportunities for improvement.
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.
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.
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 technology and research method that measures where and how long a person looks at various areas on a screen or interface. Crucial for understanding user attention and improving interface design.
The rate at which employees leave a company and are replaced by new hires, often used as a measure of organizational health and stability. Essential for understanding workforce dynamics and designing strategies to improve employee retention.
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.
The process of turning potential customers into paying customers, often measured by the conversion rate. Essential for understanding and optimizing the customer journey.
The ability of consumers to remember a brand when prompted by a product category. Crucial for understanding brand strength and effectiveness in marketing.
Performance and Accountability Reporting (PAR) is a comprehensive document that outlines an organization's performance in achieving its goals and its accountability in managing resources. This report is essential for transparency, governance, and continuous improvement.
The percentage of visitors to a website who navigate away from the site after viewing only one page. Important for understanding user engagement and the effectiveness of a website's content and design.