Quantitative
Research is all about numbers. uses mathematical analysis and data to shed light on important statistics about your business and market. This type of data, found via tactics such as multiple-choice questionnaires, can help you gauge interest in your company and its offerings. For example, quantitative research is useful for answering questions such as:
Is there a market for your products and services?
How much market awareness is there of your product or service?
How many people are interested in buying your product or service?
What type of people are your best customers?
What are their buying habits?
How are the needs of your target market changing?
How long are visitors staying on your website, and from which page are they exiting?
Perhaps most importantly, because quantitative research is mathematically based, it’s statistically valid, which means you can use its findings to make predictions about where your business is headed.
Qualitative
Research isn’t so much about numbers as it is about people — and their opinions about your business. Typically conducted by asking questions either one-on-one or to groups of people, qualitative research can help you define problems and learn about customers' opinions, values and beliefs. Because qualitative research generally involves smaller sample sizes than quantitative research, it’s not meant to be used to predict future performance; rather, it gives you an anecdotal look into your business
Whereas quantitative research asks short-answer questions that begin with “to what extent,” “how much” and “how many,” qualitative research asks long-answer questions that begin with “how” and “why.” It’s particularly useful if you’re developing a new product, service, website or ad campaign and want to get some feedback before you commit a large budget to it. Some typical questions that “qual” research may ask include:
Why do you think this product is better than competitive products? Why do you think it’s not?
What would you do to improve this new service to make it more appealing to you?
What do you think of this new company logo?
How would you characterize this website design? How friendly and easily navigable is it?
What does this print ad say to you?
Ask the group - Nelnet specific value factors
Incoming call volume, hours to work a manual report, FTE to support daily operations, volume of errors to be worked
How do these rank in terms of importance to one another?
Measuring these factors – how good is “good enough”?
Translating in to real dollars and why it is important (prioritization/ROI)
Ceremonies
Incentives and motivations are too tied to adopting the practices that have encouraged a checklist culture. This culture ensures teams follow certain ceremonies in a cadence—without considering the value that the software delivers to the customer or the long-term impact of not resolving deficiencies in the systems.
The focus of the conversations has been on what scope to deliver within this artificial time constraint, rather than the value produced and how value can be realized quicker.
When a team is not able to fit the next valuable deliverable within the timebox, they scramble to identify what else the team can work on within the given timebox. Should be looking at what value they can deliver – maybe an exciter, low hanging exciter
Incremental Delivery and Delivering Incremental Value
Stop trying to fit stuff in to just fit it in. Deliver incrementally to gather feedback
By delivering frequent value, we keep our customers engaged and can more easily pivot
Keep building on value as long as it makes sense
20% of the work could mean 80% of the value – get something now vs waiting multiple months for something.
