“As product strategists aiming to launch a new product or gain market share with a new enhancement, it is critical to be first to the finish line. The risk of losing the race can be in the millions of dollars and devastating to careers.” – Steve Schulz, Line of Sight Group President and Founder
Our efforts to stay current on trends and keep a pulse on the needs of product managers is addressed by attending and sponsoring key events in the local marketplace. Line of Sight Group sponsored the monthly PDMA meeting and presented “Using Analytics to Stay Ahead of the Competition” at Starkey Hearing Technologies in Eden Prairie, Minnesota.
Line of Sight Group’s Steve Schulz shared some analytical models for using knowledge of the external environment to understand where you are in the race with your competition, and how to think about bets and moves you can make to differentiate and stay ahead. Use cases demonstrated how organizations can apply data and analytics to continuously monitor competitive developments and engage in interactive dialog on how to use that information to respond to threats and opportunities.
One of the ways we help our clients monitor their external environment is through Line of Sight’s SCIP Endorsed Market-i Competitive Intelligence System.
Key insights from the event:
- How to identify key indicators
- Where to find the needed data
- How to create and populate a development map and scorecard
- Development strategies and response adjustments
- How to present the data and strategic response
Starkey’s Aaron Schroeder, Au.D, kicked off the event with a welcome and shared their efforts to help people hear throughout the U.S. and around the world. He showed a music video featuring singer-songwriter Matt Nathanson, who joined Starkey in Peru to help raise awareness and funds for people struggling with hearing loss. I encourage you to watch it here. It is sure to warm your heart.
Thanks to Minnesota PDMA and Starkey Hearing Technologies for the opportunity!
Minnesota PDMA is the place for innovators and product people to come together. The organization holds monthly events all around the Twin Cities. All people, perspectives, and ideas are welcome.
Starkey Hearing Technologies is a hearing-aid manufacturer that prides itself on connecting people and changing lives. The company has provided more than 1 million hearing aids to people around the world.