My travels last month took me back to the Bay Area for client meetings and a chance to spend some time at the Autodesk Gallery, a very cool space near the ferry building in San Francisco. Autodesk uses it to show off its customers' design innovations, not coincidentally created using the company's design software. The event in January showcased how customers are using Autodesk visualization software to improve the sustainability of their product designs and implementations. This is tackling sustainability right at its core: making products that are more energy- and resource-efficient, easier to manufacture, easier to reuse and recycle, right from the start. The products we saw at the event included:
A new research facility at NASA Ames down the peninsula. This super-green building is aimed at "beyond" LEED Platinum standards, incorporating a variety of innovative design and engineering elements all captured in building information modeling (BIM) software. The Feds will use it as a laboratory for energy efficient buildings, spreading its best practices and learnings across the broad portfolio of US government buildings and research facilities. NASA is also working to make the design blueprint a working model for efficient ongoing operation of the building.
Aside from my work with product strategists, I’m also a quant geek. For much of my career, I’ve written surveys (to study both consumers and businesses) to delve deeply into demand-side behaviors, attitudes, and needs. For my first couple of years at Forrester, I actually spent 100% of my time helping clients with custom research projects that employed data and advanced analytics to help drive their business strategies.
These days, I use those quantitative research tools to help product strategists build winning product strategies. I have two favorite analytical approaches: my second favorite is segmentation analysis, which is an important tool for product strategists. But my very favorite tool for product strategists is conjoint analysis. If you, as a product strategist, don’t currently use conjoint, I’d like you to spend some time learning about it.
Why? Because conjoint analysis should be in every product strategist’s toolkit. Also known as feature tradeoff analysis or discrete choice, conjoint analysis can help you choose the right features for a product, determine which features will drive demand, and model pricing for the product in a very sophisticated way. It’s the gold standard for price elasticity analysis, and it offers extremely actionable advice on product design. It helps address each of “the four Ps” that inform product strategies.