A decentralized digital ledger that records transactions across many computers in a way that ensures the security and transparency of data. Crucial for understanding and implementing secure, transparent digital transactions and applications.
Business-to-Business (B2B), a business model where products or services are sold from one business to another. Crucial for understanding business markets and developing inter-business strategies.
A concept in transactional analysis that describes three different aspects of the self: Parent, Adult, and Child, each influencing behavior and communication. Important for designing communication strategies and interfaces that resonate with different user states.
Any process or administrative barrier that unnecessarily complicates transactions and creates friction, discouraging beneficial behaviors. Important for identifying and eliminating unnecessary obstacles that hinder user experiences.
The psychological discomfort experienced when parting with money, influenced by the payment method and context. Crucial for understanding spending behavior and designing payment systems that mitigate discomfort.
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.
Business-to-Consumer (B2C), a business model where products or services are sold directly to individual consumers. Essential for understanding consumer markets and developing direct marketing strategies.
Business-to-Business-to-Consumer (B2B2C), a business model where businesses sell products or services to other businesses that then sell them to consumers. Important for understanding complex value chains and partnership strategies.
Business-to-Government (B2G), a business model where products or services are sold to governments. Important for understanding and navigating public sector markets.
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.
Customer Effort Score (CES) is a metric that measures how much effort customers have to put in to interact with a product or service. Crucial for identifying friction points and improving user experience in digital products.