An enhancement or improvement that increases the worth or appeal of a product, service, or business process beyond its basic function.
This term evolved from the economic concept of 'value added' used in manufacturing and taxation since the 1950s. It was shortened to 'value add' in business contexts during the 1980s-90s and became popular in consulting and corporate strategy discussions.
The phrase has become so overused in corporate speak that it's often criticized as meaningless jargon. Ironically, discussions about 'value add' sometimes add little value themselves, leading to the humorous observation that the term has become its own antithesis.
Complete word intelligence in one call. Free tier — 50 lookups/day.