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Improve Your Product Portfolio Through Analytics - H. Del Castillo
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Improve Your Product Portfolio Through Analytics - H. Del Castillo

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Thanks everyone who participated in this highly engaging discussion at ProductCamp Boston. I also want to thank LogiAnalytics, 280 Group, and the Association of International Product Marketing and ...

Thanks everyone who participated in this highly engaging discussion at ProductCamp Boston. I also want to thank LogiAnalytics, 280 Group, and the Association of International Product Marketing and Management (AIPMM) for their support.

Feel free to favorite this if you like it. I welcome your comments regarding this topic. Visit http:/linkd.in/hdelcastillo.

Description:
- Are you implementing the right business intelligence strategy?
- Are your product ideas aligned with your business and innovation growth strategies?
- Is your product portfolio balanced across product type, risk, time, resources and ROI?

When delivering business intelligence solutions, getting meaningful data into the hands of the right people in ways they'll understand and use is extremely important. By bringing together this information you'll empower your customers to more accurately analyze business failures and successes, and your product team can make better decisions about how to improve your product.

Managing data is a big challenge, especially for companies looking to improve their customer experience. Often data gathering is chaotic because it doesn't just come from one source and each source is not always managed by the same team, or even by the people who need to guide critical decisions based on facts.

Join Hector Del Castillo as he shares insights and case studies on ways to bring together different data sources, and connect the dots between your customers’ data and the actions your team takes to minimize risk and improve customer satisfaction.

Key takeaways from participating in this webinar:
- The best way to approach business intelligence solutions
- How to help your customers identify key performance indicators
- How to display metrics in an actionable way
- How to leverage insights and turn them into action

About the Speaker:
Hector Del Castillo, a senior product innovation strategy consultant, has over 15 years of experience directing the product strategy for companies to create new revenue streams and reduce risk by growing high-performing product teams and implementing a product life cycle management process. He has launched several profitable technology-based products and solutions. He provides services as a consultant, contractor, coach, or trainer to companies that want to grow and create value-added products that delight customers and create demand.

About AIPMM
The AIPMM is the hub of all things product management. It is where product professionals go for answers. With members in over 65 countries, it is the worldwide certifying body of product team professionals. It is the world's largest professional organization of product managers, brand managers, product marketing managers and other product team professionals.

Visit www.aipmm.com

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  • I want to thank everyone who attended this webcast. I welcome your feedback regarding this topic. Contact me with any comments or questions. I look forward to seeing you again soon.
  • Product portfolio analysis is looking at the range of products a business offers in an attempt to improve market performance of the entire product portfolio.Product planning defines the right products to bring to market in an attempt to create new revenue streams.

Improve Your Product Portfolio Through Analytics - H. Del Castillo Improve Your Product Portfolio Through Analytics - H. Del Castillo Presentation Transcript

  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloHector Del Castillolinkd.in/hdelcastillo
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloI want to thank everyone who attended thisdiscussion.I welcome your feedback regarding this topic.Contact me with any comments or questions.I look forward to seeing you again soon.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloHector: @hmdelcastilloAIPMM: @AIPMMLogiAnalytics: @LogiAnalytics280 Group: @the280groupTweet!
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastillo• Two Cosí gift cards• One 12-month AIPMM premiummembership ($175 value)Participate and Win!
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloThanks
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloWhat We Will Discuss1. Why perform product portfolio analysis2. Product portfolio analysis tools3. Managing a product portfolio4. Turning insights into action5. Key Takeaways
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloWho makes critical decisions about yourcompany’s product portfolio?A. CEO or General ManagerB. VP of Sales or MarketingC. VP or Director of Product ManagementD. Individual Product ManagersE. None of the Above
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloHow do you measure the marketperformance for each product?A. Sales and Distributor ReportsB. Third-Party Market ReportsC. Website PurchasesD. Business Intelligence ToolE. All of the Above
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloWhat is the difference betweenBusiness Intelligence andBusiness Analysis?
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloBI vs. BABusiness Intelligencefocuses on using aconsistent set of metricsbased on data andstatistical methods tomeasure past businessperformance and guidebusiness planningBusiness Analyticsfocuses on developing newinsights and understandingof business performancebased on data andstatistical methods to gaininsight and drive businessplanningSource: WikipediaStrategic Tactical
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloWhat is the difference betweenProduct Portfolio Analysis andProduct Planning?
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloAnalysis vs. PlanningProduct PortfolioAnalysisthe process of evaluatingthe range of products abusiness offers in anattempt to improvemarket performance ofthe entire productportfolio.Product Planningthe process of definingthe right products tointroduce to market inan attempt to createnew revenue streams fora business.Strategic TacticalSource: © 2012 Research Study, AIPMM, All Rights Reserved.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloChallengeHow do you obtain meaningfuldata from disparate sourcesinto the hands of the rightpeople within your company?
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloSource:LuminaDecisionSystems.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastillo1. Select the proper analysistools.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloChoose the right visualizationtool
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloBCG MatrixSource: “BCG Matrix,” Boston Consulting Group
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloStarsQuestionMarksCashCowsDogsBCG Matrix: HoldRelative Market ShareMarketGrowthRateSource: “BCG Matrix,” Boston Consulting GroupHold
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloStarsQuestionMarksCashCowsDogsBCG Matrix: BuildRelative Market ShareMarketGrowthRateSource: “BCG Matrix,” Boston Consulting GroupBuild
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloStarsQuestionMarksCashCowsDogsBCG Matrix: HarvestRelative Market ShareMarketGrowthRateSource: “BCG Matrix,” Boston Consulting GroupBuild/Harvest
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloStarsQuestionMarksCashCowsDogsBCG Matrix: DivestRelative Market ShareMarketGrowthRateSource: “BCG Matrix,” Boston Consulting GroupDivest/Harvest
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloInvest/GrowSelectivity/EarningsDivest/RetireGE/ McKinsey 9-Box MatrixIndustry AttractivenessBusinessPositionSource: “Enduring Ideas: The GE–McKinsey nine-box matrix,” McKinsey Quarterly
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloInvest/GrowBuildSelectivelyBuildSelectivelyGE/ McKinsey 9-Box MatrixIndustry AttractivenessBusinessPositionSource: “Enduring Ideas: The GE–McKinsey nine-box matrix,” McKinsey Quarterly
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloGenerateCashSelectivity/EarningsFind Niche/RetireGE/ McKinsey 9-Box MatrixIndustry AttractivenessBusinessPositionSource: “Enduring Ideas: The GE–McKinsey nine-box matrix,” McKinsey Quarterly
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloHarvestHarvestDivest/RetireGE/ McKinsey 9-Box MatrixIndustry AttractivenessBusinessPositionSource: “Enduring Ideas: The GE–McKinsey nine-box matrix,” McKinsey Quarterly
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloChoose a visualization tool thatallows you and your customersto view data in different waysSource: “Dashboard Best Practices,” LogiAnalytics Whitepaper
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloSource: LogiAnalytics
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloSource: LogiAnalytics
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloSource: LogiAnalytics
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloChoose a visualization tool thatdoes not require developmentto view data in different ways
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastillo2. Select the right keyperformance indicators
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloKPIs measure an organization’sperformance and assist indeveloping performance goalsand strategies
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloWhat are key performanceindicators for your products?
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloKPI Characteristics• Accepted by the organization• Tied directly to a strategic objective• Rated or graded• Time sensitive
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloKPI Development ProcessIdentify theresults youexpect.Establish thenumbers thecompanyneeds toreach itsgoals.Measure theprogress thathas occurredso far.Determinethepercentageof changethat hasoccurredwithin eacharea ofreview.Establish thefrequency ofreviewingtheseindicators.Step 1 Step 2 Step 3 Step 4 Step 5
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloMarket CustomerBusiness OrganizationProductSource: © 1998-2103 AIPMM ProdBOK, All Rights Reserved.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloMarket• Market Insight• Market Segmentation• Competitive Analysis• Industry Profitability• Segment Profitability
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloCustomer• Customer Strategy• Customer Relationships• Customer Acquisition• Customer Profitability• Brand Awareness & Loyalty• Buy Behavior
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloOrganization• Employee Development• Employee Satisfaction• Management Responsibility• Manufacturing & Operations
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloBusiness• Business Strategy• Quality, Process Improvement & ChangeManagement• Technology Management• Financial Analysis, Reporting, & CapitalManagement• Accounting Management
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloProduct• Product Development & Support• Product Profitability• Augmented Product• Distribution Channels• Price• Promotion• Customer Support
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastillo3. Agree on success criteria
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloBusiness Strategy• Strategic Scenarios• Industry Attractiveness• Business Strength• Market Growth Rate• Market Share• Balanced Scorecard
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloBusiness Operations• Forecasting• Predictive Analytics• Data Mining• Critical Success Factors
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloMarketing• Marketing Program Effectiveness• Price Adjustments and Price Elasticity• Product Profitability• Customer Profitability• Distribution Channel Profitability• Channel Evaluation and Selection• Brand Awareness & Loyalty
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloSales• Average Sales Cycle• Average Revenue Per Customer• Number of Demos• Sales Funnel Metrics• Number of New Customers• Customer Retention Rate• Gross Margin Metrics
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloCustomer Support• Customer Satisfaction• Number of Unresolved Customer Issues• Average Time To Resolve Support Issues• Customer Service Requests• Customer Support Profitability
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloProduct Market Performance• Product Profitability• Product Sales Performance• Price Assessment• Conjoint Analysis• Tradeoff Analysis• Portfolio Resource Allocation• Attribute Preference Testing
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastillo4. Perform analysis on aregular basis
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloTypes of MetricsType of Metric Answers This QuestionStrategic Track critical assets that must betended to over a relatively longtimeWhich products must weprotect?Operational Track product quality, on-timedelivery, and augmented servicesWhat are our strengths?Problem-Oriented Address critical challenges facingthe business, such as problemscollecting receivables orcontrolling costs in specific areas.How do we mitigateweaknesses?Technical Evaluate the behavior oftechnologies and of technology-dependent business processesWhich technologiesshould we adopt tostrengthen the portfolio?Financial Track profitability, ROI and cashflow for the businessWhich products are mostprofitable? Why?
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloChart TypesType Examples PurposeBaroften used for asingle point intimeBubblePieScatter
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloChart TypesType Examples PurposeAreaOften used fortime seriesColumnLine
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloChart TypesType Examples PurposeStockOften used forprice changesSurface Often used forconjoint analysisRadar
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloChoose a visualization tool thatdoes not require developmentto view data in different waysSource: “Dashboard Best Practices,” LogiAnalytics Whitepaper
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloInteractive DashboardSource: LogiAnalytics
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloInteractive ReportSource: LogiAnalytics
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloInteractive DashboardSource: LogiAnalytics
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastillo5. Measure results and takecorrective actions
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloEnsure accurate information isavailable to guide criticaldecisions based on facts aboutmarket and customer insights.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloYou may not own the criticaldecisions, but you can certainlyinfluence the decision makers.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloInteractive Medica“One of the main reasons we were named a Gartner CoolVendor is our analytics capabilities and these are largelybecause we implemented Logi Info.”• Difficult to meet increasing client demands; analytics not acore competency• Small library of reports built in one week• Shifted reporting writing function from development to clientsolutions• Territory Planning module blends analytics and applicationfunctionsSource: LogiAnalytics Case Study
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloMotionsoft• New SaaS Project• Inline Analytics– Embedded Dashboards– Embedded Reports Module• Analytics focused around Membership and Retention– Visit patterns for Active vs. Non-active members– Correlation of weather data• Integrated POC in 30 daysSource: LogiAnalytics Case Study
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloKey Takeaways• Select the proper analysis tools1• Select the right key performance indicators2• Agree on success criteria3• Perform analysis on a regular basis4• Measure results and take corrective actions5
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloQuestions?Speaker:Hector Del Castillo, CPM, CPMMSenior Product Innovation Consultanthmdelcastillo@aipmm.comlinkd.in/hdelcastillo
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloUpcoming CoursesCourse & Location Dates Days TimeACPM® Certification Prep Course & ExamMcLean, VA May 13, 2013 M 8:30 am – 5 pmCPM® Certification Prep Course & ExamMcLean, VA May 14-15, 2013 T, W 8:30 am – 5 pmCPMM® Certification Prep Course & ExamMcLean, VA May 16-17, 2013 Th, F 8:30 am – 5 pmProductCamp Boston Promo: Get $150 off for registering for CPM or CPMM prepcourse in McLean, VA; contact Cynthia Petti, cynthia@280group.com for moreinformation. Additional courses are available in Austin, San Jose, and Seattle.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloUpcoming CoursesCourse & Location Dates TimeCIL® Certification Prep Course & ExamKuala Lumpur, Malaysia Jun 5-6, 2013 9 am – 6 pmCPM® Certification Prep Course & ExamAmman, JordanSingaporeKuala Lumpur, MalaysiaMay 6-7, 2013May 27-29, 2013Jun 3-4, 20138 am – 5 pm8 am – 5 pm9 am – 6 pmCPMM® Certification Prep Course & ExamAmman, JordanSingaporeMay 8-9, 2013May 30-Jun 1, 20138 am – 5 pm8 am – 5 pmFollow the links provided to get more informationregarding these courses.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloPlease Join Us Again!AIPMM Webinar Series:Building and Growing an Amazing Product Management Team, May 10, 12 p.m. ETFive Product Roadmap Traps (And How To Avoid Them), May 17, 12 p.m. EThttp://aipmm.com/aipmm_webinars/Global Product Management Talk:http://www.blogtalkradio.com/prodmgmttalkStay Informed!Newsletter: http://www.aipmm.com/subscribeLinkedIn: http://www.linkedin.com/company/aipmmMembership: http://www.aipmm.com/join.phpCertification: http://aipmm.com/html/certification/
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloHector Del Castillo• Senior consultant with over 15 years of experience transformingproducts to wealth for technology-based companies• AIPMM Body of Knowledge (ProdBOK®) Contributor• Certified instructor for AIPMM and the 280 Group• Established companies– Jet Propulsion Laboratory, Lucent Technologies, MEI Technologies• Small companies and startups– Nextone Communications, Smith Micro Software• Launched 27+ Products for global deployment– HW/SW, Telecom, Enterprise Mobility, Information Security Services,Professional Development• Certified PMP®, CPM® and CPMM®• University of California at Santa Barbara, MS EE• University of Texas at El Paso, MS EE, BS EE68
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloFor More Information About• AIPMM membership benefits• Certification courses near you• How to prepare to take a certification exam• Strengthening your product portfolio to delightyour customers, increase value and minimizerisk
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloHector Del CastilloCPM, CPMM, PMPlinkd.in/hdelcastillo@hmdelcastillohmdelcastillo@aipmm.com