A
A/B Testing
A controlled experiment comparing two versions to see which performs better on a chosen metric.
Acceptance Criteria
The specific, testable conditions a user story must satisfy to be considered complete.
Agile
An iterative approach to building products that delivers value in small, frequent increments instead of one large release.
API (Application Programming Interface)
A defined interface that lets software systems communicate and exchange data with each other.
ARR / MRR
Recurring revenue normalized to an annual (ARR) or monthly (MRR) figure — the core SaaS revenue metric.
C
Churn Rate
The percentage of customers (or revenue) lost over a given period — the inverse of retention.
Cohort Analysis
Grouping users by a shared trait (often signup date) to compare how their behavior evolves over time.
Competitive Moat
A durable advantage that protects a product from competitors, such as network effects or switching costs.
Conversion Funnel
A model of the sequential steps users take toward a goal, showing drop-off at each stage.
Conversion Rate
The percentage of users who complete a desired action out of those who had the opportunity.
Cross-Functional Team
A team combining all the skills needed to build a product — typically product, design, and engineering.
Customer Acquisition Cost (CAC)
The average cost to acquire one new customer, including marketing and sales spend.
Customer Lifetime Value (LTV)
The total revenue (or profit) a business expects to earn from a customer over the entire relationship.
D
Daily Standup
A brief daily team sync to share progress, plans, and blockers — usually under 15 minutes.
DAU / MAU
Daily and monthly active user counts; their ratio (DAU/MAU) is a common measure of engagement stickiness.
Definition of Done
A shared checklist of conditions that any work item must meet before it counts as truly complete.
E
F
G
K
M
N
O
P
Pricing Model
The structure that determines how a product charges customers — e.g., flat, tiered, usage-based, or freemium.
Prioritization
The discipline of deciding what to work on next by weighing value, effort, and strategic fit.
Product Backlog
A prioritized, continuously updated list of everything that might be built for a product.
Product Discovery
The work of deciding what to build — validating that a solution is valuable, usable, feasible, and viable.
Product Lifecycle
The stages a product moves through over its life: introduction, growth, maturity, and decline.
Product Owner
A Scrum role responsible for maximizing product value by owning and prioritizing the backlog.
Product Requirements Document (PRD)
A document that defines what a product or feature should do, for whom, and why — the source of truth for a build.
Product Roadmap
A high-level, communicative plan of what a product team intends to work on and why, over time.
Product Vision
The long-term, aspirational picture of what a product aims to become and the change it seeks to create.
Product-Market Fit
The point at which a product satisfies strong market demand — the prerequisite for scalable growth.
R
S
Scrum
A popular Agile framework that organizes work into fixed-length sprints with defined roles, events, and artifacts.
Scrum Master
A Scrum role that facilitates the process, coaches the team, and removes impediments to progress.
SDK (Software Development Kit)
A bundle of tools, libraries, and docs that helps developers build on or integrate with a platform.
Sprint
A fixed, short period (typically 1–2 weeks) during which a Scrum team completes a set of committed work.
Sprint Planning
The meeting where a team selects and commits to the work it will complete in the upcoming sprint.
Stakeholder
Anyone with an interest in or influence over a product — internal teams, leadership, customers, or partners.
Story Points
A relative unit for estimating the effort, complexity, and uncertainty of a user story.
T
U
Unit Economics
The direct revenues and costs associated with a single unit (usually a customer), revealing whether a model is profitable.
Usability Testing
Observing real users attempting tasks with a product to uncover where they struggle.
User Journey Map
A visualization of the steps, thoughts, and emotions a user experiences while trying to achieve a goal.
User Persona
A fictional, research-based archetype representing a key segment of a product's users.
User Story
A short, plain-language description of a feature told from the perspective of the user who wants it.