The modern business leaders in every industry are taking a step back to revise what they have done in the past from an internal system to customer interaction, both online and offline. Teams in the businesses are working to create and deliver digital transformation solutions to empower employees, engage customers, optimize operations and transform products and services. Working on these cases is simple but delivering a successful digital product internally is a different story.
To convey the digital product internally, businesses need a way to quickly test their ideas and validate them to ensured impact. This is where a minimum viable product plays an important role. MVP is nowadays a thrown and lost term. It contains different definitions that range from the smallest possible experiment to test a specific hypothesis to realize a product vision.
Businesses are required to hire a digital agency to define MVP as the best solution that could meet the needs of the target audience. The digital agency operates with the least amount of risk while going through all the measures.
Many smart businesses are using MVP term to meet the lowest cost option of delivering the product. They are also using MVP for a reduced feature set with less functionality. There could be many interpretations regarding MVP. Teams can find themselves challenged to manage expectations.