There is no universal metric that defines value for every product.
But mature teams can look beyond volume and consider several dimensions.
Value Created
Is the product producing meaningful results for users, customers, or the organization?
Depending on the context, this may include adoption, satisfaction, retention, revenue, efficiency, error reduction, or other business outcomes.
Learning
How quickly can the team test assumptions and use evidence to improve its decisions?
Faster learning can reduce the cost of pursuing the wrong direction.
Delivery Capability
How effectively can the team turn a relevant idea into a usable Increment?
Speed matters when it helps shorten the distance between an idea and useful feedback.
Quality and Sustainability
Can the team continue evolving the product without creating excessive defects, technical debt, security issues, or operational instability?
AI-enabled speed should not come at the expense of sustainable delivery.
Alignment
Does the work being performed clearly contribute to the Product Goal and Sprint Goal?
A team can be highly productive while still moving in the wrong direction.