Product management as a discipline is undergoing a transition towards data-driven decision making. As the cost of testing product feature ideas falls, the role of a product manager becomes one based on testing many feature ideas, and rolling out proven features. In this presentation we touch on some of the trends behind this paradigm shift, and consider some tools the product manager can use.
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Vanity metrics (like web hits or number of downloads) which only serve to document the current state of the product but offer no insight into how we got here or what to do next.
An actionable metric is one that ties specific and repeatable actions to observed results.
“I can’t say it any better, HiPPO’s rule the world, they over rule your data, they impose their opinions on you and your company customers, they think they know best (sometimes they do), their mere presence in a meeting prevents ideas from coming up. The solution to this problem is to depersonalize decision making, simply don’t make it about you or what you think. Go outside, get context from other places. Include external or internal benchmarks in your analysis. Get competitive data (we are at x% of zz metric and our competition is at x+9% of zz metric).Be incessantly focussed on your company customers and dragging their voice to the table (for example via experimentation and testing or via open ended survey questions). Very few people, HiPPO’s included, can argue with a customer’s voice, the customer afterall is the queen / king! : )”
Avinesh Kaushik, kaushik.net
Interaction Model Backlog ValidationDoing Doing Deployed
For <target group>Who <has a specific need>The <product name>Is A <product category>That <key benefit>Unlike <primary competitors>Our Product <additional advantages>
Pathway#1
Pathway#2
•Visualize your User Interaction Model and adjust it as you learn•Come up with ideas for each pathway•Prioritize experimental testing•Spend time on measurement infrastructure (a test without ability to measure = an unvalidated feature)
Level of Detail / Close to done
•Always revisit validation tests for size •The execution board is equivalent to the team’s task board, but at the Idea Card level
In November 2007, economists in the Survey of Professional Forecasters — examining some 45,000 economic-data series — foresaw less than a 1-in-500 chance of an economic meltdown as severe as the one that would begin one month later.