Free Product Strategy Course on Creating a Data-Informed Product Strategy

In this chapter, the moderator provides feedback on presentation setup and reminds the presenter of guidelines to follow during the session, such as avoiding specific greetings and not mentioning the number of participants. The presenter is instructed to follow a specific flow after the thank you slide.

The session offers guidance on creating a LinkedIn post about the webinar, mentioning the mentor and using specific hashtags. The moderator suggests content ideas, emphasizes the benefits of participating, and encourages engagement. Participants are given a form in the chat to submit their posts.

This segment covers the importance of identifying the target audience in product strategy. It distinguishes product development from product strategy, focusing on ideation and planning. The discussion also touches upon defining a roadmap and its key components.

The presentation focuses on analyzing online purchase trends over the next six months. Factors like restaurant offerings, competition from food delivery companies, and average ticket size are highlighted. The speaker stresses the importance of internet penetration and paying capacity in determining the total addressable market for online food purchases.

The transcript discusses the importance of avoiding assumptions and confirmation bias in product management. It emphasizes the need to understand perspectives and not solely rely on data that confirms preconceived notions. Examples of confirmation bias in product management are shared, underlining the need to approach data analysis with an open mind.

This chapter differentiates between being data informed and data driven. It explains the implications of blindly believing data versus using data as one tool among many. An example highlights the decision-making process between two features based on numerical data or considering various other factors.

The discussion centers on a new search feature allowing users to search by name. Issues of page breaks and query timeouts for large numbers of friends are raised, emphasizing the importance of data integrity. Data points for search experience data collection are suggested to improve the search experience.

The speaker underscores the importance of product managers having a basic understanding of technology, drawing from personal experience in various companies. The audience feedback demonstrates that the session was informative, concluding with farewells and well wishes to all participants.