Your Guide to Sharpening Scoring Skills & Reducing Bias
Product development teams are always eager to improve their products. This passion for the product and quest to make improvements leads to a flood of ideas pouring in on a regular basis. Naturally, everyone who submits an idea believes their suggestion is great and should be implemented. While their idea may be good, that doesn’t guarantee it’s the right idea to focus on next. Product development decisions need support from data and research.
How Generative AI Can Benefit Product Management Teams
One of the most novel product development trends is the integration of AI technologies in the development process; product managers are among the top ten user groups of artificial intelligence systems in organizations today, with a recent study by IBM highlighting that 21% of product managers use this technology on a daily basis. The benefits of AI and machine learning are that product managers and development teams can use them to fuel growth and gain a competitive advantage.
The Ford GT Story + 50th Anniversary Win at Le Mans - Innovate to Success
In 2019, the movie Ford vs. Ferarri (starring Matt Damon, Christian Bale, and Catriona Balfe) relaunched the tale of the iconic win by Ford over Ferrari on the Le Man racetrack in 1966 back into the minds of racing fans. The equally impressive feat is how Ford came back to defeat Ferrari yet again in 2016, fifty years after the original win. How did they do it, and why does it matter? Here's a rundown of the significance of the Le Mans race to the automotive industry and the tenacity of the Ford development teams to pull off stunning wins against the odds.
Products as Platforms and When to Start One
What comes first, the product or the platform? Asking the question of what should come first, the product or the platform, is similar to asking whether the egg came before the chicken. There is no cut-and-dry answer as to which order is better; companies have tried both to varying results. While the answer to the chicken and egg question is more philosophical, the question about products and platforms is best answered based on a company's structure, goals, and resources.
3 Successful Companies Leading Their Industries Using Market Segmentation Strategy
We've previously discussed here on the blog types of market segmentation and how to break into new markets by targeting certain segments. Now, it's time to look closer at examples of companies that successfully captured various market segments with their product lines, either by innovation or acquisition. The following three companies have harnessed the power of market segmentation to dominate against their competition.
Why Manufacturers Should Prioritize Cyber Security When Choosing a SaaS Provider
Manufacturing companies benefit from technological advances across their organizations. Technology simplifies tasks and task management from the factory floor to the design and development stages to company-wide correspondence. The prevalence of technology makes security one of their top concerns, and for good reason. Large manufacturing companies are a target for their intellectual property, sensitive customer and employee data, and money. Cyber threats are a real concern, from phishing scams that can target any employee, ransomware or data breaches resulting from vulnerable networks to supply chain disruptions.
What Is Market Saturation and Why Does It Happen?
Delivering products to your market is exciting as it helps your company build your customer base, drives your revenue, and improves the lives of your customers. But markets don’t have unlimited room for growth. There is a saturation point in every market for every product or service. How do you reach this point, and what can you do about it? We’ll explore some options in this post.
How to Use Your Product Roadmap to Make Product Line Projections & Stay Aligned With Product Goals
It’s rare for a company to grow with a product that doesn’t change or innovate. There may be success and significant market share following a release date, but over time, that share and popularity will decrease as the competition continues to introduce new features, software upgrades, or improvements in design. The reality is that companies must continuously improve their products to keep and grow their market share.
What Characteristics Make An Effective Product Roadmap?
Product roadmaps are crucial for communicating the product vision, guiding product development, aligning development teams, and communicating with various stakeholders. The failure to use a product roadmap effectively will often lead to confusion, misalignment, and possible failure of the product. This article focuses on what makes a good product roadmap and how to use it to ensure success.
Navigating Product Initiative Approval: Agile vs. Stage-Gate
Developing a new product is a complex process that demands the cooperation of various product teams, the collection of resources, and a significant budget. But before development can begin, there needs to be a product plan and approval from senior executives.
Why Company Goals Need to Extend Beyond the Product: Building Sustainable Success
Success in manufacturing relies on the ability of the product team to create products that resonate with the consumer. Traditionally, companies have focused on product-centric goals, investing heavily to identify products and features that meet the customer's needs.
Just Released: Increase Agility and Alignment of your Product Team using Gocious Feature Implementation Roadmap
Staying competitive in your market requires regular updates to your products. As your suppliers and R&D teams come up with exciting solutions to customer needs as new modules, as a product manager, you want to see these innovations on your products to get the value to the market as soon as possible.