A product iteration is a discrete cycle of refinement and improvement made to a product. This cycle generally involves planning, design, development, testing, and release. Each successive iteration builds upon the previous one, incorporating feedback and addressing identified shortcomings. For instance, a software application might initially launch with basic functionality. Subsequent iterations could introduce new features, enhance user experience, or optimize performance based on user data and market demands.
The practice of iterative development offers significant advantages. It allows for continuous improvement based on real-world usage, mitigating the risk of investing heavily in a product that does not meet market needs. This approach facilitates agility and adaptability, enabling businesses to respond quickly to changing customer preferences and competitive pressures. Historically, iterative models have emerged as a response to the limitations of more rigid, linear development processes, emphasizing flexibility and user-centricity.
