ModelOps (Model Operations) is a set of practices for deploying, monitoring, and maintaining machine learning models in production environments. Crucial for ensuring the reliability, scalability, and performance of AI systems throughout their lifecycle, bridging the gap between model development and operational implementation.
Business Process Model and Notation (BPMN) is a graphical representation for specifying business processes in a workflow, using standardized symbols and notations. Essential for creating clear, standardized diagrams that facilitate understanding and communication of business processes in digital product design.
Internet of Things (IoT) refers to a network of interconnected physical devices embedded with electronics, software, sensors, and network connectivity, enabling them to collect and exchange data. Essential for creating smart, responsive environments and improving efficiency across various industries by enabling real-time monitoring, analysis, and automation.
A digital replica of a physical entity, used to simulate, analyze, and optimize real-world operations. Essential for improving operational efficiency and decision-making.
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.
A dark pattern where users are unknowingly signed up for a recurring subscription. Awareness of this tactic is important to ensure transparent subscription services and prevent deceptive charges.
Business Process Management Software (BPMS) refers to tools and systems that help organizations design, model, execute, monitor, and optimize their business processes. Essential for improving operational efficiency and ensuring that digital products support effective business processes.
A visual representation of the stages a sales opportunity goes through, helping to track progress and forecast revenue. Important for managing sales processes and predicting future sales.
A symmetrical, bell-shaped distribution of data where most observations cluster around the mean. Fundamental in statistics and crucial for many analytical techniques used in digital product design and data-driven decision making.
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.
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.
Enterprise Project Management (EPM) is a comprehensive approach to managing projects across an entire organization. Essential for coordinating complex, cross-functional projects and achieving organizational objectives.
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 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.
A Project Management Office (PMO) is a centralized unit within an organization that oversees and standardizes project management practices. Essential for ensuring consistency, efficiency, and alignment with strategic goals across projects.