A look back at the best from a year ago.
OK, we’ve all read the theory about using value to identify market opportunities – can we see an example?
Restaurant Inventory Optimization
Imagine we are product managers, and we make a software product that helps restaurants manage their food ordering and inventory. We believe, based on our research, that our customers in our target market (proprietor-owned restaurants) have an opportunity to increase profits by wasting less food.
We ran a series called Writing Good Requirements – The Big Ten Rules in May 2006. Bloggers are notorious for not being able to count. We had ten rules at the time, and now we’re adding an eleventh. Writing Correct Requirements may have been the unwritten rule, but now we take a look at it.
Mike Mace provides us with some great insight about market research – helping us to avoid ‘the gap’ and ‘the blender’. The gap is a reflection of the inability of most customers to innovate. The blender is the loss of useful market information into a homogenized input that pushes only the lowest common denominator – again stifling innovation. We have to avoid the blender and the gap to get useful data from our research.
We know we need to base our product decisions on data, not opinion. How do we avoid the common pitfalls of misinterpreting the data.