8 Extra

Question 1

transform data into insights - in 5 phases

Answer 1

• Start with (a precise) strategy identifying your Co’s data needs –> this is the most difficult part!
• Measure: metrics and data
  –> list data sources w properties, like volume & velocity & internal/external, structured/unstructured, cost of collection
• Analyse your data - analysis can be descriptive or predictive, static or dynamic, w 4 levels of usage:
  informative, diagnostic, predictive, prescriptive
• Report your Results (visualization & story telling are important here)
• Transform your Thinking & decision making –> cultural challenge; goal = go to prescriptive

Question 2

growth hacking: 1 maxime, 3 lessons, 1 4-step method

Answer 2

1. “Growth hacking is not a collection of tricks, but a mindset.”
2. Do your market research before you build your product
3. Correct mindset: resist the temptation to go back to your comfort zone of things that are already working for you.
4. Success comes out of tracking & figuring out the reasons of failures.
5. Experiment, document, learn, accumulate your learning.
   * –> EDoLA(yl)*

Question 3

design thinking: 3 guidelines

+ team requirement

Answer 3

* To get at customers’ needs, distinguish what ppl say, do, think, feel asking a lot of why’s.

• Suggested design thinking process:
  
  • Empathize (separating from self)
  • Define
  • Ideate
  • Test (early, w/o perfectionism!)
• Ideation phase: Encourage ppl to express their ideas with no judgment.

+ team should be diverse, well-selected, have trust