New product developmentIn business and engineering, product development or new product development (PD or NPD) covers the complete process of bringing a new product to market, renewing an existing product or introducing a product in a new market. A central aspect of NPD is product design, along with various business considerations. New product development is described broadly as the transformation of a market opportunity into a product available for sale. The products developed by an organisation provide the means for it to generate income.
Product lifecycleIn industry, product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from its inception through the engineering, design and manufacture, as well as the service and disposal of manufactured products. PLM integrates people, data, processes, and business systems and provides a product information backbone for companies and their extended enterprises. The inspiration for the burgeoning business process now known as PLM came from American Motors Corporation (AMC).
Product designProduct design as a verb is to create a new product to be sold by a business to its customers. A very broad coefficient and effective generation and development of ideas through a process that leads to new products. Thus, it is a major aspect of new product development. Product design process: the set of strategic and tactical activities, from idea generation to commercialization, used to create a product design. In a systematic approach, product designers conceptualize and evaluate ideas, turning them into tangible inventions and products.
Opportunity (rover)Opportunity, also known as MER-B (Mars Exploration Rover – B) or MER-1, is a robotic rover that was active on Mars from 2004 until 2018. Opportunity was operational on Mars for sols ( on Earth). Launched on July 7, 2003, as part of NASA's Mars Exploration Rover program, it landed in Meridiani Planum on January 25, 2004, three weeks after its twin, Spirit (MER-A), touched down on the other side of the planet. With a planned 90-sol duration of activity (slightly less than 92.
Virtual product developmentVirtual product development (VPD) is the practice of developing and prototyping products in a completely digital 2D/3D environment. VPD has four main components: virtual product design (3D shape, 2D graphics/copy) virtual product simulation (drop test, crush test, etc.) virtual product staging (retail space planning, consumer research and behavior analysis) digital manufacturing (process planning, assembly/filling virtualization, plant design).
Information systemAn information system (IS) is a formal, sociotechnical, organizational system designed to collect, process, store, and distribute information. From a sociotechnical perspective, information systems are composed by four components: task, people, structure (or roles), and technology. Information systems can be defined as an integration of components for collection, storage and processing of data of which the data is used to provide information, contribute to knowledge as well as digital products that facilitate decision making.
Backward compatibilityBackward compatibility (sometimes known as backwards compatibility) is a property of an operating system, software, real-world product, or technology that allows for interoperability with an older legacy system, or with input designed for such a system, especially in telecommunications and computing. Modifying a system in a way that does not allow backward compatibility is sometimes called "breaking" backward compatibility. Such breaking usually incurs various types of costs, such as switching cost.
Multiple-criteria decision analysisMultiple-criteria decision-making (MCDM) or multiple-criteria decision analysis (MCDA) is a sub-discipline of operations research that explicitly evaluates multiple conflicting criteria in decision making (both in daily life and in settings such as business, government and medicine). Conflicting criteria are typical in evaluating options: cost or price is usually one of the main criteria, and some measure of quality is typically another criterion, easily in conflict with the cost.
Software development processIn software engineering, a software development process is a process of planning and managing software development. It typically involves dividing software development work into smaller, parallel, or sequential steps or sub-processes to improve design and/or product management. It is also known as a software development life cycle (SDLC). The methodology may include the pre-definition of specific deliverables and artifacts that are created and completed by a project team to develop or maintain an application.
Data modelingData modeling in software engineering is the process of creating a data model for an information system by applying certain formal techniques. It may be applied as part of broader Model-driven engineering (MDD) concept. Data modeling is a process used to define and analyze data requirements needed to support the business processes within the scope of corresponding information systems in organizations. Therefore, the process of data modeling involves professional data modelers working closely with business stakeholders, as well as potential users of the information system.
Information managementInformation management (IM) is the appropriate and optimized capture, storage, retrieval, and use of information. It may be personal information management or organizational. IM for organizations concerns a cycle of organizational activity: the acquisition of information from one or more sources, the custodianship and the distribution of that information to those who need it, and its ultimate disposal through archiving or deletion.
Product managerA product manager (PM) is a professional role that is responsible for the development of products for an organization, known as the practice of product management. Product managers own the product strategy behind a product (physical or digital), specify its functional requirements, and manage feature releases. Product managers coordinate work done by many other functions (like software engineers, data scientists, and product designers), and are ultimately responsible for product outcomes.
Supply chainA supply chain, sometimes expressed as a "supply-chain", is a complex logistics system that consists of facilities that convert raw materials into finished products and distribute them to end consumers or end customers. Meanwhile, supply chain management deals with the flow of goods within the supply chain in the most efficient manner. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains.
Product (business)In marketing, a product is an object, or system, or service made available for consumer use as of the consumer demand; it is anything that can be offered to a market to satisfy the desire or need of a customer. In retailing, products are often referred to as merchandise, and in manufacturing, products are bought as raw materials and then sold as finished goods. A service is also regarded as a type of product. In project management, products are the formal definition of the project deliverables that make up or contribute to delivering the objectives of the project.
Computer compatibilityA family of computer models is said to be compatible if certain software that runs on one of the models can also be run on all other models of the family. The computer models may differ in performance, reliability or some other characteristic. These differences may affect the outcome of the running of the software. Software compatibility can refer to the compatibility that a particular software has running on a particular CPU architecture such as Intel or PowerPC.
Product managementProduct management is the business process of planning, developing, launching, and managing a product or service. It includes the entire lifecycle of a product, from ideation to development to go to market. Product managers are responsible for ensuring that a product meets the needs of its target market and contributes to the business strategy, while managing a product or products at all stages of the product lifecycle. Software product management adapts the fundamentals of product management for digital products.
Business analysisBusiness analysis is a professional discipline focused on identifying business needs and determining solutions to business problems. Solutions may include a software-systems development component, process improvements, or organizational changes, and may involve extensive analysis, strategic planning and policy development. A person dedicated to carrying out these tasks within an organization is called a business analyst or BA. Business analysts are not found solely within projects for developing software systems.
InformationInformation is an abstract concept that refers to that which has the power to inform. At the most fundamental level, information pertains to the interpretation (perhaps formally) of that which may be sensed, or their abstractions. Any natural process that is not completely random and any observable pattern in any medium can be said to convey some amount of information. Whereas digital signals and other data use discrete signs to convey information, other phenomena and artefacts such as analogue signals, poems, pictures, music or other sounds, and currents convey information in a more continuous form.
Case–control studyA case–control study (also known as case–referent study) is a type of observational study in which two existing groups differing in outcome are identified and compared on the basis of some supposed causal attribute. Case–control studies are often used to identify factors that may contribute to a medical condition by comparing subjects who have that condition/disease (the "cases") with patients who do not have the condition/disease but are otherwise similar (the "controls").
Non-governmental organizationA non-governmental organization (NGO) or non-governmental organisation (see spelling differences) is an organization that generally is formed independent from government. They are typically nonprofit entities, and many of them are active in humanitarianism or the social sciences; they can also include clubs and associations that provide services to their members and others. NGOs can also be lobby groups for corporations, such as the World Economic Forum.
