Product glossary

A list of helpful product terms and definitions


A software development term that refers to the part of a program that users do not see (the frontend is the part of the program that users see and interact with, everything on the screen). Backend development is the behind the scenes work that makes a website function. It focuses on architecture, scripting, and databases.


A prioritized list of requirements for the development team to address to improve a product. It contains new features, enhancements, tech debt, spikes, and tasks.

Backlog grooming

The act of product owners regularly reviewing the development backlog to ensure that it is up to date, the most important items are surfaced, and important work is prepared for upcoming sprints. This is also referred to as backlog refinement.

Beta test

Testing a product with a group of real users to ensure product quality prior to final release. Unlike alpha testing beta testing does not require a testing environment or a lab.

BI: Business Intelligence

A process utilizing technology to analyze data and deliver actionable insights that can enable business leaders to make data-driven decisions to reach product and business goals.

Brand equity

A term used to describe the value of a brand to a customer. This is often determined by customer’s awareness, perception, and experiences with a brand.

Break-even point

This is the point where the total revenue of your product equals the total costs. At this point there is no profit or loss.


An error in the codebase that causes the program to deliver an incorrect or unexpected result to the end user.

Business plan

A written document that contains the objectives of a business and in detail, with supporting information, how it plans to accomplish these objectives.

Burndown chart

A chart that depicts how quickly a team is working through the users stories for a given sprint. It displays the remaining work for the team compared against the remaining time.

Business case

The justification for why a particular initiative should be taken. It contains expected value, estimated costs, evaluation of alternatives, and an understanding of what is happening in the industry that makes a particular time the best time to act.

Business model

The plan for how a business intends on making money. It details how the business will deliver value to customers while managing costs.

Business Model Canvas

Created by Alexander Osterwalder this visual tool helps business leaders understand their business model (or that of a competitor). It leads to insights on the customers to serve, the value that can be offered to them via various channels, and revenue opportunities.

B2C: Business-to-business

When a business offers its products or services directly to other businesses.

B2B Business-to-consumer

When a business offers its products or services directly to consumers.

Buy a feature

A prioritization exercise where participants are required to pay for the features they believe are the most valuable.

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