Product management teams rely on competitive intelligence and market research to plan out their product lines. But what happens when you try to line up your internal product definition with third-party market research. The data schemas don't match, so what do you do? How do you effectively analyze and compare your own products to your competitors’ when the data is different?
In the recent Gocious webinar, "Boost your competitive analysis while product planning" available to watch on-demand held in conjunction with Quirks media, we took a look at how you can better utilize your market research data and do competitive analysis faster and more effectively than using the traditional methods.
Our Product Management expert, Jeff Strunk, presented an all to familiar tale played out often between market research and the product management teams today. The hard work gathering valuable data from market research can go to waste. Why? Well, there are many reasons:
- Market research can work in a silo separate from the product management team
- Their data is not connected with the rest of the organization
- Valuable insight gathered as part of the research process is lost as there is no way of sharing it
- Product management does not have the capacity or capability to ingest all of that data with todays tools
Director of Customer Success, Simon Leyland, then presented a new approach to market research leveraging the Gocious solution. He showed how Gocious naturally breaks down inter-departmental silos and helps different teams become more collaborative by doing their work in one environment. Because everything is one environment the data is connected and so what should be a simple task, like building a competitive analysis matrix, can be done instantly in Gocious. Simon then moved onto showing how Gocious's innovative product weighted scoring can remove personal bias when performing the analysis.
We wrapped the webinar up by discussing the benefits Gocious can bring to any organization doing competitive research and analysis. The team took some great questions from the audience to finish the webinar out.
You can download the webinar video and slides to hear the full discussion and learn more about how Gocious helps product managers, planners, designers, and researchers meet today's manufacturing challenges.