In means "not at all" or "in no way" or "far from the desired goal/point/condition" and it is used especially when the other person has a different idea, opinion, or view of the situation. It is often followed by an adjective, but could be followed by a noun phrase. "You have a lot of interesting information in your report, but it is by no means complete." "Though Tom acted as the supervisor when the boss was in the hospital, he is by no means ready to become a department manager. He still has a lot to learn." "I am by no means responsible for your financial problems." "Selling the products at such a discount is by no means a perfect solution."