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How can you use the Pareto principle to focus on valuable product features?

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The Pareto principle, also known as the 80/20 rule, states that 80% of the effects come from 20% of the causes. This principle can help you focus on the most valuable product features and avoid wasting time and resources on the less important ones. In this article, you will learn how to apply the Pareto principle to your product engineering process and deliver more value to your customers and stakeholders.

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Tanushree Gupta

Staff Technical Program Manager, Intuit | Ex-Amazon, Google, Cisco Product Management | Thought Leadership |…

1 Identify the 20%

The first step is to identify the 20% of your product features that generate 80% of the value for your users and your business. You can use various methods to do this, such as user feedback, analytics, surveys, interviews, or experiments. The goal is to find out what are the core problems that your product solves, what are the main benefits that your users get, and what are the key metrics that indicate success.

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Tanushree Gupta

Staff Technical Program Manager, Intuit | Ex-Amazon, Google, Cisco Product Management | Thought Leadership | Cross-functional Driver
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As Pareto Principle states that first 20% of the effort put in on a project should yield 80% of the project's results, it clearly stresses on how important is the first step or identification of those areas which needs your attention on priority. Identifying the right pain points for a stakeholder defines the product goal and thus the outcomes.

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Dr. RVS Praveen Ph.D

Director - Product Engineering at LTIMindtree
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1. Prioritize identifying the 20% of product features delivering 80% of value to users and the business. 2. Utilize diverse methods like user feedback, analytics, surveys, interviews, or experiments for accurate assessment. 3. Focus on core problems addressed, main user benefits, and key success metrics to guide prioritization. 4. Streamline product development efforts by concentrating resources on high-impact features. 5. Continuously reassess and adjust priorities based on evolving user needs and business objectives.

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2 Prioritize the 20%

The next step is to prioritize the 20% of your product features that you identified and rank them according to their value and impact. You can use a simple scoring system, such as the RICE framework, which stands for reach, impact, confidence, and effort. The higher the score, the more valuable the feature is. You can also use a visual tool, such as a matrix or a roadmap, to map out your features and see how they align with your goals and vision.

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Dr. RVS Praveen Ph.D

Director - Product Engineering at LTIMindtree
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1. Rank identified features based on value and impact using frameworks like RICE, considering reach, impact, confidence, and effort. 2. Prioritize features with higher scores, indicating greater potential value and impact on product success. 3. Utilize visual tools such as matrices or roadmaps to visually represent feature prioritization and alignment with goals. 4. Focus resources on implementing high-priority features to maximize product effectiveness and user satisfaction. 5. Continuously reassess and adjust prioritization based on changing needs, feedback, and strategic objectives.

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3 Execute the 20%

The final step is to execute the 20% of your product features that you prioritized and deliver them to your users as quickly and efficiently as possible. You can use agile methods, such as scrum or kanban, to break down your features into smaller and manageable tasks, assign them to your team members, and track their progress and quality. You can also use lean methods, such as MVPs or prototypes, to test and validate your features with real users and get feedback and data.

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Dr. RVS Praveen Ph.D

Director - Product Engineering at LTIMindtree
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1. Implement prioritized features swiftly and efficiently using agile methodologies like scrum or kanban. 2. Break down features into manageable tasks, assign them to team members, and monitor progress and quality. 3. Utilize lean methods such as MVPs or prototypes to validate features with real users and gather feedback. 4. Ensure alignment with user needs and business goals throughout the execution process. 5. Continuously iterate and improve based on user feedback and data to enhance product value and effectiveness.

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4 Evaluate the 20%

Once you have executed the 20% of your product features, you need to evaluate their performance and outcomes. You can use various tools and methods, such as analytics, dashboards, reports, or reviews, to measure and analyze how your features are doing in terms of user satisfaction, engagement, retention, revenue, or any other relevant metric. You can also use feedback loops, such as surveys, interviews, or reviews, to collect and understand user opinions, suggestions, or complaints.

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5 Repeat the 20%

The Pareto principle is not a one-time thing, but a continuous process of improvement and optimization. You need to repeat the steps of identifying, prioritizing, executing, and evaluating the 20% of your product features on a regular basis, and adjust them according to the changing needs and expectations of your users and your business. By doing this, you will be able to deliver more value with less waste and achieve better results and outcomes.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you use the Pareto principle to focus on valuable product features?

1

2

3

4

5

6

1 Identify the 20%

2 Prioritize the 20%

3 Execute the 20%

4 Evaluate the 20%

5 Repeat the 20%

6 Here’s what else to consider

Product Engineering

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How can you use the Pareto principle to focus on valuable product features?

1

2

3

4

5

6

1 Identify the 20%

2 Prioritize the 20%

3 Execute the 20%

4 Evaluate the 20%

5 Repeat the 20%

6 Here’s what else to consider

Product Engineering

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