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Data driven product management
- 1. DATA DRIVEN PRODUCT MANAGEMENT Building a search engine from the ground up TAPAN KAMDAR @TKAMDAR WWW.TAPANKAMDAR.COM
- 2. I don’t do math
- 3. WHICH OF THESE CAN YOU USE IN THE DARK?
- 4. 90% of world's data generated over last two years Source: Science Daily
- 5. USE DATA OR PERISH
- 6. GOING FROM 0 TO 60 IN 2.8 SECONDS
- 7. DOMAINSEARCH≠GOOGLE SEARCH? Query Tokenize Understand Generate suggestions Rank suggestions Buy from registry toiletseat.com toilet seat OR toilets eat toiletseat.info toiletseat.org toiletseat.plumbing toiletseat.co toilet seat toiletseat.info toiletseat.co toiletseat.plumbing toiletseat.co
- 8. GoDaddy Domain Search Results 2 years ago
- 9. 9 CHECKLIST DOT -> MLN Proprietary. Copyright© 2014 GoDaddy Operating Company,LLC.All rightsreserved. M Leverage existing data OR “create” new data L Define intended outcome NTOD Testing capability MVP Launch Next steps
- 10. D FOR DATA Customer interactions UX discovery with users Customer feedback Customer service agent feedback Purchases 3rd party research
- 11. 11 CUSTOMERJOURNEY MAPS Proprietary. Copyright© 2014 GoDaddy Operating Company,LLC.All rightsreserved. 5 4 3 2 1 Search Results 3.4 Homepage 3.0 Configure 3.7 Cart 4.4 Login 4.1 Checkout 3.2
- 12. GATHERINGDATA TO BUILD A SEARCHEXPERIENCE Customer Profile Searches Purchases Usage Patterns Customer Service • Products in Use • How are they used? • Segments • Paths • Search Sessions • Clicks • Behavior • Domain purchased • Other products bought • Cart size • Top complaints • How they sell? Competitors Industry Trends
- 13. O FOR OUTCOME PICK THE RIGHT METRICTO MEASURE Q: Optimize the entire path or just a page? • Alignment on metric to build to: – Customer experience – Revenue ($, margin) • Set explicit and realistic goals • Clearly state assumptions and dependencies
- 14. 14 Revenue (Conversions, Order size, # of Products) Relevance (Click position, nDCG) V/S
- 15. 15 Metric to optimize: Add To Cart Made upametric asnothing standard fit theneed! Proprietary. Copyright© 2014 GoDaddy Operating Company,LLC.All rightsreserved.
- 16. T FOR TEST “Test fast, fail fast, adjust fast” • Do you have an A/B testing platform? • Build v/s Buy • What should you test and when? • Do you trust your data - gut check test results
- 17. 1ST A/B TEST FOR SEARCH
- 19. M FOR MVP • Build a multi year roadmap of “big rocks” • Pick the 1st “rock” • Define the simplest happy path • Simplify it even further • Build that!
- 20. DOMAINSEARCH MVP Rule based model Algorithmic suggestions Global Ranking Model Market Ranking Models Customer segment models Path specific models t = 0 t = 1y t = 2y t = 3y Reorder Tokenize Complex rules MVP 1 MVP 2 MVP 3
- 21. 21 Simplifying the MVP with data Proprietary. Copyright© 2014 GoDaddy Operating Company,LLC.All rightsreserved. Singular ➢ Plural Plural ➢ Singular Add token to end Delete least important word Stemming Replace word Digits Dashes 2 2 12 13 X X
- 22. L FOR LAUNCH • Launch your MVP • Log everything (even if you don’t need it) • Measure test results • Understand dynamic between metrics – Conversion, Order side, New customer acquisition, LTV • Share bad news quickly, wait to share good news
- 23. WHAT IS STATITICALSIGNIFICANCE? • Not leaving outcome to chance • Probability (p) is your friend – helps manage risk • Easy to compute tools available online – 95% confidence => You are wrong 1 in 20 times – 90% confidence => You are wrong 1 in 10 times
- 25. N FOR NEXT STEPS • Launch your MVP • Add new “big rocks” • Leverage Lean canvases Source: Steve Blank Prioritize: Customer Experience, not Revenue / Effort
- 26. DON’TLOSESIGHTOFWHO YOU ARE BUILDINGFOR?
- 28. 28 NEW KIDON THE BLOCK
- 29. TAKEAWAYS • Think of data as your road to insights • Optimize the right metric • Test fast, fail fast, adjust fast • Minimum Viable Product • Optimize for customer experience, not revenue or effort 29