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The Transformative Power of AI in Business

Tom Spencer

These systems can suggest relevant products that customers are likely to enjoy. For example, Alibaba, a leading Chinese e-commerce company, could conduct sentiment analysis of customer reviews of individual products and services, and use these insights to modify existing products and develop new ones.

Data 147
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Startup Businesses with Professional Consulting Services

Business Consulting Agency

Market Validation and Product Development Consulting services play a crucial role in validating market demand and refining product/service offerings for startups. Consultants conduct market validation exercises, customer surveys, prototype testing, and feedback analysis to validate product-market fit and identify areas for improvement.

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Applied Behavioral Economics Rule of Thumb #5: Recognize the Possibilities and Perils of Anchors

Steve Shu Consulting

One area that I’d like my students to consider has to do with how they elicit information, especially during customer discovery research to determine whether a business is addressing a big problem that people have (e.g., finance), application (e.g., is the business solving the right problem, a common question of startup situations).

Examples 195
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Projects, Products, and the Project Portfolio: Part 2, Assess & Rank the Work

Johanna Rothman

I called the value stream a product so that people would think about who would use it and why. I suggested that we stop work on specific products when you have more products than teams. That would allow you to work on other projects in service of different products. All the Finance work (Finance is the customer).

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The Perils of Internal Disruption (Part 3)

Markovitz Consulting

Volume discounts have the same effect, by encouraging customers to order more product than they need in order to get a larger discount. It may be counterintuitive, but long production runs and large batches create disruptions in the flow of work compared to one-piece flow or small batch sizes. Next week: Kaizen Events.

Finance 145
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Overcoming Data Collection Challenges in Consulting

Tom Spencer

I was assigned to a typical strategy engagement – should client X selling product Y increase sales in market Z? However, we struggled to calculate profitability over time, as the client had multiple kinds of products and used various procurement methods. However, finding enough quality information is often difficult.

Data 78
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Wealth Management: Building and Protecting Fortunes

Tom Spencer

One of the most important things that wealth managers do is to keep their clients informed about important changes that may affect their financial situation, such as new financial market trends, new laws and regulations, and any new financial products or services that may be of interest to them.