PV – An Analytical Product in the Making

The Product

2 Year Strategy, Roadmap, Learnings

Key Learnings from many iterations…

(almost all of these were done wrong at first, but we got way better)

  1. Talk to clients earlier than you think – Actually listen and stop assuming you are so so smart
  2. Simplify demos – The art of the possible is useful, but clients need to see a practical path to tangible results
  3. Hold executives and internal teams accountable – Stop accepting mediocrity
  4. Hold clients accountable to their word – If a client says they like something, get them to sign-up and adopt (keep iterating until it is so compelling that they do)
  5. Focus on personas, not a single entity – Even if you are in contact with one person, there are likely many stakeholders that you have to service, do not ignore their needs
  6. Keep iterating – Stop thinking about quarterly releases! Think about the cost/benefit of ongoing changes, without a predefined schedule
  7. Focus on utility – Data is not usually useful on its own, without tools for use in context. Be part of this context, or create it, from consumers through sophisticated commercial clients, create toolkits, not datasets
  8. Useful insights not data – Differentiate with non-trivial insights that move clients along the process, take away time and frustration with analytical heavy lifting behind the scenes
  9. Ease of use over features – Stop packing in capabilities for people to figure out (they won’t). Start simple, build trust and grow the functionality over time in a seamless way

The Process

Rapid Product Validation – The Underlying Method

Standard Integrated DAP (Data, Analytics, Product) Process & Timeline for Iterative Product Launch

Note: The timeline can easily be a lot shorter, IF the internal teams are committed to executing the plan, and allocated accordingly.

Timeline – month Activities,  Deliverables & Milestones` *
1 Data, Analytics, Product Strategies, Roadmaps & Operational Plans
* V1.0 of plans completed 
2 Prototype design & development  
V1.0 of prototype
3 Market validation of Prototypes with prospects & clients
V2.0 of prototype
Support for financing initiative
4 Market validation of Prototypes with prospects & clients
V3.0 of prototype
* Updated versions of strategic plans – 2.0
5 Market validation of Prototypes with prospects & clients 
V4.0 of prototype
6 * Secure Beta adopters for Product
* Updated versions of strategic plans – 3.0
Support for financing initiative
7 * Secure Beta adopters for Product
Beta design & development
8 Beta design & development
* Successful financing secured
9 Beta rollout to early adopters clients
* Beta launch with clients – v1.0
10 Beta rollout to early adopters clients
Refinements made and introduced V2.0 changes
12 Refinements made and introduced V3.0 changes
Months 13-18 The next focus is on scaling the Beta in terms of breadth & depth of capabilities and functionality, client support and models. This will require changes to backend architecture, front end capabilities, analytical capabilities as well as sales & marketing skills and training.