Marty Cagan lists four big risks in product development: value risk (will they buy it?) usability risk (can they figure out how to use it?) feasibility risk (can engineers build it?) business viability risk (can the business work with it?) Cagan’s framework is a great read. I’d like to build on and acknowledge Cagan’s ideas here. The intimate relationship Canadians have with risk Water is to fish as risk is to Canadians. If you aren’t from here, maybe you’d be in a better position to see it. There’s a skill, called inversion, that I think Canadians are pretty good at. You imagine the worst that can happen, and then you write plans to avoid those nightmare from coming true. It’s a good skill. I[…]
Category: Business
There’s an entire complex rooted on the idea that business plans are intelligently designed. Let’s probe that idea a bit. I enjoy Eric Beinhocker’s ideas about complexity economics. I’ve written of his ideas again and again and again. One of the most polarizing talks I’ve ever given was centred on his idea of a Library of Smith. It’s the idea that every single business plan that has ever been written, will ever be written, or can ever be written is contained in an imaginary library named after Adam Smith. Somewhere in this library is the elusive Google Business Plan from 1999. There’s also GE’s business plan for 1956. And another business plan with the letter ‘A’, repeated 99,000 times. I[…]
Often, there is a crisis that is visible to all, but nobody acts. Why does this pattern repeat? Spoiler: One of my favourite books is by Shigetaka Komori: Innovating Out of Crisis: How Fujifilm Survived (and Thrived) As Its Core Business Was Vanishing. In it, Komori describes how Fujifilm survived while Kodak failed. Another one of my favourite books is by Kathleen Thelen, in an epic entitled How Institutions Evolve: The Political Economy of Skills in Germany, Britain, the United States, and Japan. In it, Thelen describes how institutional lock-in occurs. In this post, I’ll combine themes from Komori and Thelen, with an insight about beliefs, in an effort to explain a part of why groups of people who are[…]
Canadians are a people shaped by physical and social geography. Both explain a portion of why we are who we are, and how we relate to each other. Covid-19, an executable snippet of code wrapped in protein with the sole goal of persistence, is shaping us. It has already affected our social demography. Will it change Canada’s social geography? What It Is Population density is a pretty good indicator of attitude. I can’t make the claim that it’s always causal for all people, After all, did living with 25,000 others in a square kilometre in downtown Toronto make you more conscious of mental health challenges facing the population, or were you always conscious and chose to live with others who[…]
The diagram below, something that John Cutler put together, made me think. I got a kick out of it. Maybe you will too. First, I’ll unpack the image. Second, I’ll contribute a few thoughts. What are you looking at? If you look down the centre, you’ll see nine instructions, called mandate levels, labelled from A to I. At level A you’ll find the instruction “Build exactly this [to a predetermined specification]”, at F, “Increase/decrease [metric] known to influence a specific business outcome”, and at I, “Generate [long-term business outcome]”. To the left, you’ll see a few boxes, labelled Eng, Design, PM, and GM. To the right, similar boxes labelled PROD DEV TEAM, PM, GM. The organization on the left is[…]
The one pager is a beautiful tool. It’s one page. It is something that you are bringing to a persons’ mind. It contains a limited amount of language – around 300 words or less if there is a chart or many bullet points. Most people can read it in around 90 seconds, though, some can do it in 60 seconds. Those are the constraints. You use tools to achieve goals. We’ll start there, dive into each one, and I’ll conclude with a few experiences. Goals Three common goals are to persuade, to declare, or to engage. Persuasion is often about convincing oneself, another, or a group to form a belief. Declaration is often about sharing or proclaiming a decision, fact,[…]
What if the rate of forgetting is interrelated with the rate of learning? What might that mean? The Knowledge Funnel The Knowledge Funnel is a model that describes how knowledge is made useful by an organization. At one side, you got mysteries. We live in an era where the number of mysteries vastly outnumbers the amount of knowledge. There is no shortage of mystery. Heuristics are rules of thumb that work most of the time, but not all of the time. There are lot of heuristics. They tend to form the core value driver for many organizations. There are comparatively fewer algorithms. Those organizations that have fit algorithms are often extraordinarily profitable and competitive. Some researchers focus on converting mysteries[…]
Is what is happening in analytics, in industry, an evolution or a revolution? What is Analytics is the science of data analysis. Those who practice analytics self-identify as analyst, digital analyst, marketing scientist, data engineer, researcher, among many others. Tukey (1962, The Future of Data Analysis, The Annals of Mathematical Statistics, (33), 1) called them all practitioners. The goal of the practitioner depends on their context. That context largely, but not always, depends on the state of knowledge, state of the culture, or sometimes, normatively, the state of maturity, of the group they belong to. Large organizations can have a large amount of difference within them. It’s not uncommon for an operations department to be extremely mature and for its[…]
I used to conjure Louis Del Grande to appear on my television. I used steel wool on the antenna of a black and white set, Tuesday’s at 7 or 8pm, on CBC. Louis played a tabloid journalist that fought crime, fought his wife, fought the Crown, cracked jokes, and in the end would solve the murder mystery with a fuzzy psychic flashback. The show was called, wait for it, Seeing Things. I thought it was neat how he could see the past so clearly, with psychic flashbacks, often at the most inconvenient time. I remember wanting to see the future like that. It was unlike anything I remember watching on television. Last night I scrolled through over a hundred titles[…]
In this post, I’ll outline some of the best parts about product managing data science. Data science is the creation of product from data, requiring a blend of the skills of technology, statistics, and business. Product Management brings and keeps product in the world, requiring a blend of the skills of technology, user experience, and business. All of the challenges of product management appear in data science. And then some. The Knowledge Funnel The Knowledge Funnel is a concept introduced by Roger Martin in Design of Business: Why Design Thinking is the Next Competitive Advantage (2009). At the top of the funnel, you got mysteries. It would seem that there are an uncountable number of mysteries. In the middle, you have heuristics,[…]