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Creating metrics that matter

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Eira is an editor for Mind the Product. She's been a business journalist, editor, and copywriter for longer than she cares to think about.

Eira Hayward

<p>Itamar highlights three types of product launches:</p>
<ol>
<li>Positive – where a product is launched and is incrementally improved upon. These are very rare.</li>
<li>Negative – where launches are so bad they get rolled back.</li>
<li>Middle – this is where most things launch and not much changes in the business. This is the space where we spend most of our time.</li>
</ol>
<p>Many products don’t make an impact because of failures in planning and execution, he says, and he runs through his GIST framework as a way of preventing this.</p>
<p>Itamar’s framework has four levels of planning:</p>
<ol>
<li>Goals, which tell us what we are trying to achieve</li>
<li>Ideas, which are hypothetical ways to achieve the goals</li>
<li>Steps, that develop the ideas and test them</li>
<li>Tasks, the things that fall out of the steps level to build</li>
</ol>
<p>The talk focuses first three levels – Goals, Ideas and Steps</p>
<h3>Goals</h3>
<p>Good goals answer two questions:</p>
<ol>
<li>Where do we want to be and by when?</li>
<li>How do we know when we are there?</li>
</ol>
<p>We need to use metrics to answer these questions, specifically impact metrics and outcome metrics.</p>
<h3>Ideas</h3>
<p>Everyone has ideas and most aren’t very good. At Google and Bing, <a href="https://hbr.org/2017/09/the-surprising-power-of-online-experiments" target="_blank" rel="noopener">only 10-20% of experiments generate positive results</a>. Itamar suggests we should put all ideas into an Idea Bank and then rank them using the <a href="https://link.medium.com/E33cAl8193" target="_blank" rel="noopener">ICE</a> (Impact, Confidence and Effort) scoring system.</p>
<h3>Steps</h3>
<p>We should validate ideas as quickly as we can to generate results and then feed them back into our Ideas Bank and update our ICE scores.</p>
<p>Watch the original video: <a href="https://www.mindtheproduct.com/the-gist-framework-by-itamar-gilad/" target="_blank" rel="noopener">The GIST Framework by Itamar Gilad</a></p>
<hr />
<p><em>If you want to <b data-stringify-type="bold">elevate your product management game</b> and witness <b data-stringify-type="bold">inspiring and actionable</b> keynotes at our flagship #mtpcon conference in London, then you can secure your place to <a class="c-link" href="https://www.mindtheproduct.com/mtpcon/london/conference/" target="_blank" rel="noopener noreferrer" data-stringify-link="https://www.mindtheproduct.com/mtpcon/london/conference/" data-sk="tooltip_parent">#mtpcon London</a> today! Happening on 20 October, additionally, the day before (19 Oct) choose from 7, in-person <a class="c-link" href="https://www.mindtheproduct.com/mtpcon/london/workshops/" target="_blank" rel="noopener noreferrer" data-stringify-link="https://www.mindtheproduct.com/mtpcon/london/workshops/" data-sk="tooltip_parent">workshops</a> or our half-day <a class="c-link" href="https://www.mindtheproduct.com/mtpcon/london/product-leadership-forum/" target="_blank" rel="noopener noreferrer" data-stringify-link="https://www.mindtheproduct.com/mtpcon/london/product-leadership-forum/" data-sk="tooltip_parent">Leadership Forum</a>. We hope to see you there!</em></p>

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