Software Release Cycle
The following flowchart shows a typical software release cycle.
To learn more about Software Release Life Cycle, refer to this Wikipedia article.
Development Release
During active development, each iteration cycle concludes with a development release. At this stage, only the developers (and select stakeholders such as the product manager) have access to the deployed app.
Alpha Release
Alpha is a significant milestone achieved by the development team. In this stage, the core features of the application are functional, although they may not be fully refined. Most of the essential features have been implemented.
Once the Alpha stage is reached, the team extensively tests and refines the features, along with other elements, to improve fidelity and meet the software design requirements.
After the Alpha stage, the development progresses to the Beta release.
Beta Release
The Beta phase begins when the software is feature complete, meaning that all essential requirements have been implemented. At this stage, the team polishes the user interface, improves performance, and fixes known bugs (although the beta-release software may still contain some known bugs).
The beta release is typically the first time the software is made available outside the organization that developed it. Beta version software is useful for demonstrations and previews to prospective customers. It is often referred to as a "preview release" or "early access."
Version-1 Release
The Version-1 release represents your Minimum Viable Product (MVP). The MVP has enough value in terms of features that customers want to start using it. It also provides a glimpse of what you will produce in the future to maintain customer interest.
OOSE Final Deliverable
Your OOSE final deliverable must be either an Alpha or Beta version of your app. The idea is that with one or two more iterations, you would be able to release your MVP.