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.
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.
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.
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.
The percentage of times a keyword appears in a text relative to the total number of words, used to evaluate the relevance and optimization of a webpage for specific search terms. Important for optimizing content for search engines without overstuffing keywords.
Minimum Viable Product (MVP) is a version of a product with just enough features to be usable by early customers who can then provide feedback for future product development. Essential for validating product ideas quickly and cost-effectively, allowing teams to learn about customer needs without fully developing the product.
Minimum Viable Feature (MVF) is the smallest possible version of a feature that delivers value to users and allows for meaningful feedback collection. Crucial for rapid iteration in product development, enabling teams to validate ideas quickly and efficiently while minimizing resource investment.
The practice of developing artificial intelligence systems that are fair, transparent, and respect user privacy and rights. Crucial for ensuring that AI technologies are developed responsibly and ethically.
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.