Book Image

Effective Platform Product Management

By : Tabassum Memon
Book Image

Effective Platform Product Management

By: Tabassum Memon

Overview of this book

Scaling a platform is a lot different than scaling a product. This is why product managers developing or transitioning to a platform model are often facing completely new challenges – both technical and strategic. But if you want to build the next Amazon, Netflix, Spotify, or a completely new type of platform, then you need to adopt a platform-first approach to change how you invent, develop, and market solutions. This is where Effective Product Platform Management comes in. This book addresses product management as a critical pillar of platform development. It'll help you understand the difference between traditional and modern product management for platforms and even decide whether the platform business model is the way to go for you. As you progress, you’ll be able to build the right platform strategy, define the MVP, and focus on ongoing backlog prioritization for successful platforms. This book will also walk you through the practical steps and guidelines that can ease your organization’s transition from linear products to platforms. By the end of this platform product management book, you’ll have learned the essential aspects of product management for building successful and scalable platforms. You’ll also have a clear understanding of the next steps you need to take to perfect and execute your new platform strategy – and take on the world.
Table of Contents (15 chapters)
Section 1: Building the Right Strategy for the Platform Business Model
Section 2: Building the Platform
Section 3: Measuring the Performance of the Platform

Analyzing results

After collecting the data for all the metrics, we should analyze the results. Analysis of these results mainly involves comparing the actual result with the expected target. The outcome must be examined for each metric individually and frequently. Initially, the trends must be observed daily and thoroughly analyzed weekly. Product managers should do this analysis with support from others, such as technical leads and customer support.

Analyzing the deviation in the result and finding the root cause is an essential part of this step. Sometimes, the root cause of the variation could be straightforward, for example, the number of new consumers was low in a particular week because many people were on holiday due to extended weekends. But sometimes, it can be complex and tricky.

For example, the number of transactions at a particular time on a certain day went down significantly due to latency in response from a major credit card provider. This might not be very...