Product Management Glossary

K-Means Clustering is a machine learning algorithm used to group similar data points together based on their distance from each other. It is commonly used in product management to segment customers or products based on their similarities and differences.

K-Nearest Neighbor (KNN) is a machine learning algorithm used for classification and regression. It works by finding the K nearest data points in the training set to a given input and predicting the output based on the majority class or average value of those K points.

Kaizen is a Japanese term that means continuous improvement. In product management, it refers to the practice of constantly improving products and processes through small, incremental changes.

Kanban is a visual project management tool that helps teams to manage work by visualizing workflow, limiting work in progress, and maximizing efficiency. It originated in the manufacturing industry but has since been adopted by software development teams.

A Kanban board is a visual project management tool that helps teams visualize work, optimize workflow, and prioritize tasks.

The Kanban Roadmap is a visual representation of the product development process that uses the Kanban methodology. It outlines the stages of development and the tasks that need to be completed in each stage, providing a clear overview of the project's progress and priorities.

The KANO Model is a product management framework that categorizes customer preferences into three categories: basic, performance, and delight. It helps product managers prioritize features and functionalities based on their impact on customer satisfaction.

A kernel product is the core product that serves as the foundation for a product line, and is typically the most profitable and widely used product in the line.

A Key Performance Indicator (KPI) is a measurable value that helps to determine how well a company is achieving its business objectives.

Key performance indicators (KPIs) are measurable values that demonstrate how effectively a company is achieving its key business objectives. KPIs are used to evaluate the success of a product or service and help identify areas for improvement.

Key Results are specific, measurable, and time-bound outcomes that a product team aims to achieve in order to track progress towards a larger goal or objective.

Key Success Factors in Product Management refer to the critical elements that must be in place for a product to succeed in the market. These factors can include things like market research, competitive analysis, product design, pricing strategy, and marketing tactics.

A Kickoff Meeting is a meeting held at the beginning of a project or product development cycle where the team gathers to align on goals, objectives, timelines, and responsibilities. It sets the tone for the project and ensures everyone is on the same page.

A kill switch is a feature in a product that allows the product owner or administrator to remotely disable the product or a specific feature in the product in case of an emergency or security threat.

A knowledge base is a centralized repository of information that is used to store, organize, and share knowledge and information within an organization. It is a tool used by product managers to collect and maintain information about their products, customers, and market trends.

Knowledge Management in Product Management refers to the process of identifying, capturing, organizing, and sharing knowledge and information within an organization to improve decision-making, problem-solving, and innovation.

Known Unknowns refer to the risks and uncertainties that are identified and acknowledged by a product manager, but cannot be quantified or predicted with certainty. These uncertainties can impact the success of a product and must be managed accordingly.

A KPI Dashboard is a visual representation of key performance indicators (KPIs) that provides product managers with a quick and easy way to monitor and track the success of their product. It allows them to identify trends, track progress towards goals, and make data-driven decisions.

KPIs (Key Performance Indicators) are measurable values that demonstrate how effectively a company is achieving its business objectives. They are used to evaluate the success of a product or service and help identify areas for improvement.