Book Image

Lean Product Management

By : Mangalam Nandakumar
Book Image

Lean Product Management

By: Mangalam Nandakumar

Overview of this book

Lean Product Management is about finding the smartest way to build an Impact Driven Product that can deliver value to customers and meet business outcomes when operating under internal and external constraints. Author, Mangalam Nandakumar, is a product management expert, with over 17 years of experience in the field. Businesses today are competing to innovate. Cost is no longer the constraint, execution is. It is essential for any business to harness whatever competitive advantage they can, and it is absolutely vital to deliver the best customer experience possible. The opportunities for creating impact are there, but product managers have to improvise on their strategy every day in order to capitalize on them. This is the Agile battleground, where you need to stay Lean and be able to respond to abstract feedback from an ever shifting market. This is where Lean Product Management will help you thrive. Lean Product Management is an essential guide for product managers, and to anyone embarking on a new product development. Mangalam Nandakumar will help you to align your product strategy with business outcomes and customer impact. She introduces the concept of investing in Key Business Outcomes as part of the product strategy in order to provide an objective metric about which product idea and strategy to pursue. You will learn how to create impactful end-to-end product experiences by engaging stakeholders and reacting to external feedback.
Table of Contents (6 chapters)

Chapter 11. Eliminate Waste – Data Versus Opinions

Once product development is underway, there are new feature ideas that will make their way into the product backlog. Having a data strategy can help us to evaluate new feature ideas and how our product performs in terms of success metrics. As we saw in Chapter 7, Track, Measure and Review Customer Feedback we need to track, measure, and review customer feedback. We need to seek qualitative and quantitative insights. However, teams can be easily distracted when looking at the wrong data and biases. We need to eliminate wasteful processes in how we seek and interpret data. Product teams need to have a data strategy as an inherent part of their way of working.

Accordingly, this chapter will address the following topics:

  • Defining the hypothesis that we seek to validate
  • The problems with data

Defining the hypothesis

"If you don't know where you're going, any road will take you there." - Lewis Carroll

Product feedback...