KPI Trees and More Concepts

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Hello readers👋 
This is a continuation blog of the Mapping Business Outcomes to Product Outcomes. Lets dive in and learn something new today. 

Link to the previous blog - Mapping Business Outcomes to Product Outcomes

What is a KPI Tree?

In simple words, a KPI tree is something that breaks down a company's business outcomes to product outcomes.



To get a knack of breaking the BO to PO or make the metric more granular, we have to think about the metric as an equation. Lets take an example of revenue growth (% increase in revenue over a period of time) -

In an ecom market-
Revenue = Number of customers * Avg revenue per customer 
or
Revenue = Total units sold * Average selling price (ASP)

Now taking one aspect, you break it down into more points like Number of customer ( Repeat customers, new Customers, churned customer) for your KPI tree. 




What is Product Discovery?

At its core, product discovery is all about data-informed reduction of uncertainty.

Difference between Product Discovery and Product Delivery

Imagine you are a Lead Product Manager in a company and have got a new idea which you think can scale and have started developement on it without proper market or user research (A definite no-go!!). When the product is ready and roll-out has been done, you notice that what you "thought" did not take place (WASTED). 

Discovery of a product requires a proper market research and user pain-point solution. Once you discover a product problem properly, you do the development on a right track, then you are ready to ship it to your audience and can confidently say that you have made a well defined product which can be marketed further for growth.
Without product discovery, product delivery is impossible for a high grossing product in any domain. 

All product life cycles can be divided into two phases

  • Product Discovery - Building the right product
  • Product Delivery - Building the product right




The double diamond approach: tells how can one go about the process of product discovery



What is Design Thinking Process?

It is a process to solve a problem from the user's perspective. It requires user empathy, research and challenge analysis. It is something where you keep your user at the hypocenter and revolve the product around it. 

5 stages of design thinking is captured in the image below:





Design thinking is a less linear and more iterative process. At each stage, you may discover something new that requires you to go back and repeat the previous step.

Quick takeaway for your pm roles if you are preaparing for one- 



That's all for today. Vale guys ✌

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