A cognitive bias where individuals underestimate their own abilities and performance relative to others, believing they are worse than average. Important for understanding self-perception biases among designers and designing systems that support accurate self-assessment.
Measurements used to evaluate the success of an organization, employee, or process in meeting goals. Necessary for assessing performance and driving continuous improvement.
The practice of comparing one's performance, processes, or practices to those of peers or competitors to identify areas for improvement. Important for understanding relative performance and identifying best practices for improvement.
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 statistical technique that uses random sampling and statistical modeling to estimate mathematical functions and simulate systems. Useful for risk assessment, decision-making, and performance optimization in digital product design.
A comprehensive analysis of a website to assess its performance in search engine rankings and identify areas for improvement. Essential for diagnosing and enhancing a website's SEO performance.
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.
A statistical method used to assess the generalizability of a model to unseen data, involving partitioning a dataset into subsets for training and validation. Essential for evaluating model performance and preventing overfitting in digital product analytics.
A statistical rule stating that nearly all values in a normal distribution (99.7%) lie within three standard deviations (sigma) of the mean. Important for identifying outliers and understanding variability in data, aiding in quality control and performance assessment in digital product design.
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.
Goal-Question-Metrics (GQM) is a framework for defining and interpreting software metrics by identifying goals, formulating questions to determine if the goals are met, and applying metrics to answer those questions. This framework is essential for measuring and improving software quality and performance.
An evaluation process that assesses the effectiveness, efficiency, and alignment of product management practices and strategies with organizational goals. Essential for identifying areas for improvement and ensuring alignment with business objectives.
Activities that give the appearance of innovation but do not produce tangible results. Important for recognizing and avoiding ineffective innovation efforts.
The process of evaluating a product by testing it with real users to gather feedback and identify usability issues. Essential for validating design decisions and ensuring the product meets user needs.
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.
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.
A cognitive bias where individuals overestimate their own abilities, qualities, or performance relative to others. Important for understanding user self-perception and designing systems that account for inflated self-assessments.
A thorough examination of a brand's current position in the market and its effectiveness in reaching its goals. Important for assessing brand health and identifying areas 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.
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 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.
A cognitive bias where individuals with low ability at a task overestimate their ability, while experts underestimate their competence. Crucial for designers to create educational content and user interfaces that accommodate varying levels of user expertise.
A systematic evaluation of behaviors within an organization or process to identify areas for improvement and ensure alignment with goals. Crucial for understanding and improving user behaviors and organizational processes.
A method of splitting a dataset into two subsets: one for training a model and another for testing its performance. Fundamental for developing and evaluating machine learning models in digital product design.
A cognitive bias that occurs when conclusions are drawn from a non-representative sample, focusing only on successful cases and ignoring failures. Crucial for making accurate assessments and designing systems that consider both successes and failures.
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.
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.
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.
Research conducted to assess the effectiveness, usability, and impact of a design or product. Essential for validating design decisions and improving user experiences.
A metric that predicts how well a website will rank on search engine result pages (SERPs), based on factors like backlink quality and quantity. Important for understanding and improving a website's search engine performance.
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 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.
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 phenomenon where the success or failure of a design or business outcome is influenced by external factors beyond the control of the decision-makers, akin to serendipity. Important for recognizing and accounting for external influences in performance evaluations to ensure fair assessments and informed decisions.
The percentage of leads that convert into customers. Crucial for measuring the effectiveness of marketing and sales efforts.
Capability Maturity Model (CMM) is a framework for improving and optimizing processes within an organization. Essential for assessing and enhancing the maturity and efficiency of processes in product design and development.
The percentage of email recipients who open a given email. Important for measuring the effectiveness of email marketing campaigns.
Click-Through Rate (CTR) measures the percentage of users who click on a specific link out of the total users who view a page, email, or advertisement. This metric is important for assessing the effectiveness of digital marketing campaigns and user engagement.
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 percentage of customers who stop using a product or service during a specific time period. Essential for understanding customer retention and identifying areas for improvement.
A focus on the results or benefits of a project rather than the activities or deliverables produced. Crucial for ensuring that efforts are aligned with achieving meaningful results.
A strategic research process that involves evaluating competitors' products, services, and market positions to identify opportunities and threats. Essential for informing product strategy, differentiating offerings, and gaining a competitive advantage in the market.
The process of evaluating and categorizing potential customers based on their likelihood to purchase. Essential for prioritizing sales efforts and improving conversion rates.
A testing method that examines the internal structure, design, and coding of a software application to verify its functionality. Essential for ensuring the correctness and efficiency of the code in digital product development.
The process of evaluating the impact and success of a feature after its release, based on predefined metrics and user feedback. Crucial for understanding the effectiveness of features and informing future development.
A marketing strategy that involves releasing a product to a limited audience to evaluate its market performance before a full-scale launch. Important for assessing market response, identifying potential issues, and refining digital products before a wider release.
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.
The assessment of the strengths and weaknesses of current and potential competitors to identify competitive advantages and disadvantages. Essential for strategic planning and positioning within the market.
A cognitive bias where individuals overestimate the likelihood of extreme events regressing to the mean. Crucial for understanding decision-making and judgment under uncertainty.
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 metric that measures how engaged users are with a product, often based on usage frequency, feature adoption, and user feedback. Crucial for assessing user satisfaction and identifying areas for improvement in the product experience.
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.
The collection of all the backlinks (inbound links) pointing to a website, used to assess its authority and influence in search engine rankings. Essential for understanding and improving SEO strategies.
A theory that explains how individuals determine the causes of behavior and events, including the distinction between internal and external attributions. Crucial for understanding user behavior and designing experiences that address both internal and external factors.
A metric used to evaluate the trustworthiness of a website based on the quality of links pointing to it, often used in SEO. Crucial for improving website credibility and search engine rankings.
The speed at which leads move through the sales funnel. Crucial for understanding and optimizing the sales process.
A meeting held at the end of a project or development cycle, also known as a "post-mortem," to review what went well, what didn't, and how processes can be improved in the future. Crucial for continuous improvement and learning from past experiences to enhance future projects.
Zone of Proximal Development (ZPD) is a concept in educational psychology that describes the difference between what a learner can do independently and what they can achieve with guidance and support. Crucial for designing effective educational experiences and scaffolding that promote optimal learning and skill development.
A strategy used to determine the proportion of various SMEs needed to support a pipeline of work. Important for optimizing resource allocation, enhancing efficiency, and ensuring teams have the appropriate support based on design demand and complexity.
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.