Companies across industries now understand that it is difficult for them to survive on the market permanently without digital solutions. Digital transformation offers the opportunity to rethink the portfolio and restructure the company.
As a result, assumptions are typically made as to what customers like and how customer benefits can be optimized, and product managers are often even very close to real needs. But if these assumptions are not correct or if they are too vague, then it will either be really expensive, because then the product will have to be constantly revised and you will be constantly following your actual needs. In the worst case scenario, the product that is not running smoothly can also get to the substance of the company and the step towards digital transformation backfires and endangers the entire company.
However, you can face these uncertainties calmly: On the one hand through agile procedures and design thinking, but above all through continuous measurement and analysis of actual customer behavior.
Understanding customers and their needs requires data on customer behavior and agile teams that use this data to design and optimize the customer & product experience. This makes it possible to attract new customers and increase the lifetime value for existing customers — that is exactly what product intelligence means.
To make a product 'smart', it therefore requires real-time monitoring of the customer journey and user behavior.
In order to meet customer needs in a targeted manner, product management must understand in real time how customers navigate the digital solution. Is the new feature being accepted? Are more or fewer users now clicking on the call-to-action button? Can I influence my users in real time with a marketing campaign?
When customer insights become a priority, digital solutions can be managed proactively instead of looking back on the past in sprint meetings and subsequently readjusting solutions to users' problems from the past. Professional developers of digital solutions are definitely worth their money, but they also cost a lot. So when developers not only do things right, but also do the right things, you quickly save six-figure amounts or more per year in development costs alone.
Few topics are discussed as controversial as that of artificial intelligence. As is often the case, new technologies bring uncertainty.
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The challenge of new technologies is usually accompanied by uncertainties. Especially when it comes to collecting and using data, there is often talk of “monitoring” or...
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