What is Product Management? To put it simply, a product manager is like a mini-CEO where instead of diving the entire company, helshe is responsible for managing a product from creation te successful adoption, Elaborating further, the product manager Is responsible for the strategy, roadmap, and feature definition for that, product or product line, Taking the idea to execution and constantly re-iterating it to build products ‘that customers love. Customer centricity is the core that drives product management Why Product Management? Product managers act as an intersection of business, technology, and user experience (U/UX) teams and acts as a binding force amongst all of them. Itis the responsibility of a PM to ensure a shared vision among all the business units that he/she is interacting with. Most importantly, product managers define what success is for each product. outline the product strategy. and illustrate how it will impact both the customer and the goals of the company they work for. Responsibilities of a Product Manager: There are a few core responsibilities common to most product management roles inside both established enterprise companies and at startups. Most often a product manager is responsible for understanding customer requirements, defining and prioritizing them, and working with the ‘engineering team to build them. Setting strategy and defining the roadmap is often considered to be inbound work and bringing the product to market is often considered to be “outbound.” Product Strategy and Definition (Inbound) + Strategy and vision Customer interviews + Defining features and requirements + Building roadmaps + Release management * Go-to-resource for engineering + Sales and support training Product Mar ing and Go-to-Market (Outbound) + Competitive differentiation + Positioning and messaging «= Naming and branding ‘Customer communication + Product launches ‘+ Press and analyst relationsKey Trends in Product Management in the COVID Context 1. Some app industries are seeing a surge in user engagement — some as high as a 1779%average increase in daily active users(DAUs). 2, For struggling industries, app launches are down as much as60-80%. 3. Some app verticals are seeing prolonged spikes in engagement (Content& Media), while others are experiencing temporary peaks before returning to normal (Grocery) Geen) » Unlike Food & Delivery apps, Grocery apps have seen a dramatic increase in DAUs during the month of March as governments around the world issued lockdown orders. ‘App launches were up 177% on March 24 as consumers scrambied to secure supplies and prepare to shelter in place RCECHaaME * With one-third of the globe confined to their homes, streaming red ‘media apps are becoming an essential source of breaking news. Content & Madia apps are holding steady at a 40% increase in DAUs since early March. Urea] » Gaming apps saw a constant increase in app launches throughout the month of March, signaling that user aren't experiencing app fatigue and arein fact turing to mobile games more and more as a ‘way to connect with friends and entertain themselves as thay self- isolate. Online learning is undergoing a significant transformation as COVID- 19 forces students around the world off-campus and into virtual classrooms. Parents are overseeing their children’s home schooling, people are ‘taking the opportunity to pick up new skills and hobbies, and leamers arelooking for new resources and ideas. 1's no surprise that Education apps are seeing a sionificant rise in app launches — up nearly 20% before sesing a decline at the end Medical and Throughout the course of this pandemic, essential services Ike cere -access to liealthcare and pharmacies have been in high demand, eee Me People are both more interested in their overall health and are its and emails rather than go to hospitals for non-urgent care. Medical & Medicine Delivery apps have seen spikes in DAUS as high, 25 40% bafore appearing to normalize as the month of March anced. With gyms closed, people are turning to their Health & Fitness — ‘apps to help tham’stay active indoors (and log all their quarantine ee snacks). Pees Health and fitness brands finding ways to encourage people to aaccass their library of digital workouts and connect with the whole community via their mobile apps.‘Suggested readings to appres .e Product Management: Books: ‘Design of Everyday Things * Well Designed Blogs/articles: + Interview Tips ttos/Awwwintercom.com/blog/evolving-your-product-management-career-ladder/ + Product Management Frameworks: ©The Step Startup Marketing Framework We Created to Grow KisSmetrics (httesu/hitenism com/marketing-frameworkl) © Bessential metrics for measuring product-led growth (httosJAvww appeues com/blog/roduct © @ Steps to Defining GREAT Mettics for ANY Product (httpsyhackernoon com/metrics- ame-framework-SeSdcelbe8ac} © The FANG Playbook (nttpsu/stratechery.cony2016/the-fang-playbook/) © Aggregator Theory (httosu/stratecherycon/201S/aggregation-theory/) + Design in Product Management © Articulating Your Product Design Principles © Don Norman's Principles of interaction Design (httes/Awww-sachinrekhi com/don-norman-principles-of interaction-cesign} © Wireframes Aren't Just for Designers (httpsymww.mindtheproduct.com/witeframes-arent, -designers/)What is Analytics? Analytics is the science of analyzing raw data to derive actionable insights and conclusions. The techniques and processes may involve complex algorithms and machine learning concepts. Data Analytics plays a pivotal role in helping businesses identify patterns, customer trends and accordingly take decisions. Different Types of Analytics & tiie Descriptive Diagnostic Predictive Prescriptive Analytics Analytics Analytics Analytics Answers the Diagnostic analytics Predictive It answers the question of “What helps answer the | | Analytics uses |_| questionof“What hhas happened?” question of “Why it statistical should happen?” The objective is to hhappened?”. 1 |_| modelling, machine |_| Prescriptive analyze historical involves techniques earning to predict analyticsisusedto trends and figure such as correlation, the probability ofa | | determine the out relevant drill down, data future event. Tt most appropriate patterns and togsin mining, answers the step to be taken, insights, question of “What | | based on data. could happen?oe t Chath se 6. © * Objective is to understand the business domainand know the available resources (people, time. technology, data) + Developing initial hypothesis to test with the data 2. Data preparation: + Understanding the data in detail + Performing ETL: Extract Transform > Load * Data visualization to understand nuances, trends and overview of the data 3. Model Planning: * Understand relationships between different variables and select the most appropriate and relevant variables * Determining causal relationships between input and output, ifit exists * Shortlisting possible techniques that can be employed: Classification, Clustering, etc.4, Model Selection: ‘+ Develop and fit models on training data and evaluate on test data + Determine if the model is robust enough to be scaled to a larger dataset 5. Communicate results: ‘= Comparing the outcomes with the defined criteria for success and failure * Checking if the results of the model are statistically significant 6. Operationaliz + Deploying the model to production environment ‘+ Monitoring of ongoing model deployment fou can also check the below link to get more interview question of data analyst: htts/Awwwinterviewbit com/data-analyst-interview-questions/ Artificial Intelligence vs Machine Learning vs Deep Learning - Know the difference Artificial Intelligence Succinetly put, Al is the ability of computer program to function like a human. Al includes algorithms that imitate the intelligence exhibited by humans and can solve problems in ways that are considered “smart”. Eg, Amazon's accurate Al that provides one of the most accurate of predictions, Machine Lé rning Machine Learning is considered as a subset of Al. This comprises of algorithms that parse data, ‘learn* from it and can apply what the algorithms have learned to make informed decisions. The machines can learn from the data with the help of statistical techniques Eg, Email filtering, fraud detection and dynamic pricing Deep Learning Further subset of Machine Learning is Deep Learning. The objective of these techniques is to achieve a goal or an artificial intelligence power that teaches computers to task and ability to understand anything, The algorithms permit software to train itself to perform tasks, like speech and image recognition, Eg, Application of Deep Learning to differentiate between dialects, autonomous vehicles using deep learning to identity pedestrian“How vast ean Machine Learning really be? | mean isn't it just a few algori -~ Oh okay...My bad” Descan ‘Asslomerative nae See oansshe Means Asslomerat Kea sv Decision Trees Fezzy CMeans Lopitic Regression Eucla Linear Regression aprirs elynamat FP.Growth Regrenson Redgertasso Regresson DIMENSION REDUCTION (generalization) wont (DA Pea tsa SVD Random Forest MACHINE LEARNING Genetic @Learning (Goosen) Ager SARs onep Gamtwert Adaboost pe ‘Bon Conecom ‘catBoost NEURAL NETS ANDLatest Technology Trends: 1. Aland Machine Learning: The Al is expected to grow be $190 billion industry with global spending on cognitive and Al systems reaching over $57 billion in 2022. Though many conventional may be scrapped due to the Involvement of Al, several new kinds of jobs would open in development. programming, testing, support and maintenance, to name a few. Al offers some of the highest pald salaries from $100,000 per year to around $150,000. ‘On similar lines, ML is also on rapid rise leading to increase in skilled and technical professionals. It is believed that ML and automation will lead to mere than 8% jobs in USA by 2025, including robot monitoring professionals, data scientists, automation specialists, content curators, ete. Following are the hot job posts concerning this domain in the market: + Al Research Scientist + AlEngineer ‘+ Machine Learning Engineer * AlArchitect 2. Automatic Many times, itis also referred to as robot process automation (RPA) which is basically referred to as the use of software to automate business processes which are repetitive in nature. McKinsey finds that less than 5% of occupations can be totally automated, but about 60% can be partially automated (article). Though RPA has the potential to threaten the livelihood of around 996 of global workforce. is also creating new jobs while altering existing jobs. 3 Quantum Computing: Normal computers in their core deal with the binary 0 and 1. But what if they could achieve a state of let's say % of V4, This can help in optimizing power and increase the computational capabilities ‘exponentially by using the quantum concepts of superposition and quantum entanglement. Tech giants such as Google, AWS, Microsoft, etc are already involved in making innovations in this field. As per Statista, the revenue due to global computing marketing is expected to cross $25 bn by 2029 4, Internet of Things (loT): You may have not realized this but there is a very high change you have used product based on loT. ‘even your mobile phone uses this. Most of the handheld electronic ‘things’ today use Wi-Fi for connectivity to Intemet and to each other, thus the name - Internet of Things. Car doors can be unlocked remotely, switch on A/C of our home before reaching there, track fitness ‘on cell phone or your Fitbit devices, The loT can enable better safety, efficiency and decision making for businesses as data Is collected and analyzed, It can enable predictive maintenance, speed up medical care, improve customer service, and offer benefits we haven't even Imagined yet. It is expected that by the end of this decade, there will be more than 5OBn [oT devices in active use across the globe. Corollary. the spending on loT is expected to reach $11 Tn in 2022. This will lead to the creation of massive web of interconnected devices covering different domains of usage simultaneously,5. SG~ 5th Generation Intern Talking specifically in Indian context, the recent digital revolution has already catapulted the country in a new direction, But what if someone told you that it’s just the beginning and the real ‘game is about to begin. That's what SG promises us, For quite some time, 3G and 4G had enabled us to browse Internet remotely on hand with ease, increasing bandwidth to stream Netflix, Spotify Youtube ete. 5G would take this experience to the next level by making services using AR and VR easy to use, alongside cloud-based gaming services like Google Stadia, NVidia GeForce Now and much more. Almost all the telecom giants are working to create SG applications and by 2024, 40% of the world would have SC access, 6. Augmented and Virtual Reality: ‘The next step in reality-based simulations is AR and VR. Though their current usage has been largely restricted to gaming, it has also been used to train navy, ait force, astronauts etc by simulating real circumstances. Usually working in tandem with some of the other emerging technologies we've ioned in this list AR and VR have enormous potential in training, entertainment, education, marketing, and even rehabilitation after an injury, You would be surprised to know that 14 million AR and VR devices were sold in 2019. The global AR and VR market is expected to grow to $210 billion by 2022, only creating more opportunities in the trending technology. and weleoming mote professionals ready for this game-changing field 7. Blockeh: You may have heard about this in case of crypto currencies, but that’s just one application of blockchain technology. Formally defined, blockchain is a distributed database where data is shared among different nodes of a network. The data can be stored in a decentralized fashion alongside ‘ensuring security of transactions without the invalvement of any third-party application As the name suggest. data is stored in groups (or blocks) which together are connected via network like a chain, When the storage capacity of a block gets over, a new block is created and previous block is connected to the new one, thus continuing the chain, Though blockchain has wide range of applic management, ete, it has its own downsides and vulnerabilities. First. blockchain required huge amount of electrical can computational power which may be out of bound from most of the general populous now. Therefore, feasibility becomes an issue. Secondly, blockchain enthusiasts boasts the impracticality of a single person controlling majority of the blocks due to huge investment that would be required to do so. However, the same might not be applicable for a government, or a tech giant, It would be easier for them, to do a 51% attack where they would gain access to the data of just more than hall the blocks and thus controlling which data is correct & which is wrong. INS such as conduction elections, transaction