bhumikatewary

Hello readers👋 Today we will learn about basic jargons used in Product Management. It is a continuation of my previous blog where I had discussed about a set of basic PM jargons. If you haven't read it here's the link - Basic Product Management Jargons - I PRD  - A Product Requirements Document (PRD) is a document which helps the development, design, marketing and sales team understand the requirements/ essential details for a product or feature. It is intended to help the team to deliver the specific needs of the target audience. Some key components of a PRD are - product overview, objectives and goals of the product/feature, Requirements, User Scenarios and Use Cases, Wireframes/Mockups, Dependencies and Constraints, Acceptance Criteria, etc. A PRD can be updated throughout the product development process. A/B Testing - Also known as split testing or bucket testing, this is a UX research method used to compare two versions of the same feature/product to check which one perf

  Hello readers👋 Today we will learn about the basic jargons used in Product Management. As a PM you must know them thoroughly and I hope you will start using them after the end of this blog in your daily communications. North Star Metric - The NSM is the core value that your product delivers to your customers. By optimizing this metric, you can address long-term business success. Examples - For a SaaS product it is the DAU(Daily Active Users), For an E-commerce industry it can be the GMV (Gross Merchandise Value), For OTT platforms it can be the time spent by the subscriber, and many more. Churn Rate - It is the percentage of users who stop using your product after a certain period of time. There can be monthly/annual churn rates. Keeping this rate low is essential to keep the active customer base high.  Churn Rate = (Number of Customers Lost During a Period / Number of Customers at the Start of the Period) * 100 Agile - It is a project management or a product development methodol

  Hello readers👋 Today we will learn about one of the most interesting concepts of Product Management. I had talked about it in my previous blog as well, so if you have not read that do read it, you'll understand the terms more clearly. Link -  Agile Methodology A User Story is a brief description of a feature/ a product requirement that a user needs and how they can be met, written with the end user's perspective. Before writing a user story, we must know for/as whom (user persona) are we writing the user story. Empathy is also a key element while writing a user story.  Context and benefits are described Non-technical language Key tool for Agile and UI design Collaboration and creativity is present Better product delivery The team knows the what and why of the product Example - As a Uber Passenger I want to see several available drivers in my area So that I can choose the closest one to me. Benefit of User Story - Helps in breakdown of the process into smaller incremental

Hello readers👋 Today we will learn about the most used concept that you must have heard while surfing through product management resources. It is a very important and simple concept which will help you in the long run. Let me introduce you to the Agile Methodology! First let's see what is a waterfall model- You can imagine it as a huge application built with small chunks of code that is integrated together. Different parts of the application/code does different tasks like frontend, backend, DNS routes, etc. But the entire code is shipped as one whole application. This is the method we used back in the times and it was known as the monolithic application.   So if one part of the application was altered, it would disturb the entire application and sometimes there would be an error or system failure. Another linked problem of this method can be explained with an example - imagine a feature is been built and you want to deploy it on the app (production of the feature). Due to the st

Hello readers👋 Today we will learn about System Design. If you haven't read part 1, 2 or 3 of the computer basics then I would recommend you to first read it and then devour this blog. Link to part 1 -  Computer Basics - I Link to part 2 -  Computer Basics - II Link to part 3 -  Computer Basics - III Imagine building a house. You wouldn’t just start laying bricks on an empty plot, right? First, you’d think about things like location, size, floor plans, plumbing, wiring, and more. Similarly, when building software like Instagram, Uber, or Netflix, you need careful planning. This is where system design comes in. It's essential for breaking down a large, complex system into different parts that work together. As a product manager, you may not code, but it’s important to understand how the system is built, its components, and how they interact. This helps you make better decisions and guide the development process. System design is the process of designing the architecture, compo