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Digital Product Life Cycle Management (PLCM) is the application of strategies and tools to manage the entire lifecycle of a digital product, from inception to obsolescence. It integrates various phases such as ideation, design, development, launch, maintenance, and eventual retirement. By streamlining processes and improving collaboration, PLCM ensures that digital products remain competitive and relevant throughout their lifespan.
In today’s ever-evolving digital age, understanding and managing the digital product lifecycle becomes imperative. Here’s how you can stay ahead of the competition and ensure your digital product thrives from inception to sunset.
The product lifecycle is a holistic view of a product’s journey from ideation to its eventual retirement. PLCM takes this concept and tailors it to the nuances of digital products, helping product managers and teams to strategize, develop, and iterate based on user needs and market trends.
Every digital product’s life typically comprises these four stages:
Metrics are the lifeblood of effective digital product lifecycle management. Data engineering ensures that metrics derived are based on user data. Teams should always operate under the principle of “hypothesis based on the data.” This way, they can see if they’re meeting users’ needs and expectations.
PLCM is not just a methodology; it’s a mindset. By focusing on the user, being data-driven, and continuously iterating, companies can ensure their digital products remain relevant, meet user needs, and maintain a competitive edge.
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