This guide outlines the process for managing Experian’s analytics products and services, specifically for individuals stepping into an Analytics Graduate role. The expected outcome is a thorough understanding of product lifecycle management, enabling you to support the Product Manager effectively. Prerequisites include a relevant bachelor’s degree and a willingness to learn about Experian’s offerings.
Step 1: Understand Product Lifecycle Management
Action: Familiarize yourself with the complete product lifecycle for Experian’s analytics products and services. This includes consumer and commercial scores, attributes, analytics platforms, software, and custom solutions.
Expected Outcome: You will grasp how products are conceived, developed, launched, maintained, and eventually retired. This foundational knowledge is key to managing product operations and governance tasks.
Mistakes to Avoid: Do not focus solely on one aspect of the lifecycle. A holistic view is necessary for effective product management. Ensure you understand the “why” behind each stage, not just the “what.”
Step 2: Manage Client Product Interactions
Action: Engage with clients regarding product details, both technical and non-technical. This involves participating in meetings, responding to emails, explaining attribute and score interpretations, and supporting client onboarding to new products.
Expected Outcome: You will build confidence in communicating product value and functionality to clients. This step also helps you identify client needs and recommend suitable attributes based on their policy rules.
Mistakes to Avoid: Avoid using overly technical jargon with non-technical clients. Always tailor your communication to the audience. Do not make assumptions about client understanding; clarify any points of confusion.
Step 3: Maintain Knowledge and Documentation Controls
Action: Keep the Product Knowledge shared page up-to-date. This includes updating collateral, lists of online attributes, and frequently asked questions about Experian’s products.
Expected Outcome: Clients and internal teams will have access to accurate and current information, reducing support queries and improving product adoption. This ensures product integrity and consistency.
Mistakes to Avoid: Do not let documentation become outdated. Regularly schedule reviews to ensure all information reflects the latest product offerings and policies. Inaccurate documentation can lead to client dissatisfaction and operational errors.
Step 4: Ensure Specification Hygiene
Action: Maintain client-facing documentation to accurately represent current offerings. Remove product options that are no longer in use.
Expected Outcome: Clients will see a clear and relevant list of available products and services, preventing confusion and ensuring they are aware of the most current and supported options.
Mistakes to Avoid: Do not hesitate to remove obsolete information. Leaving outdated options can lead clients to request or attempt to use products that are no longer supported, causing frustration and potential technical issues.
Step 5: Conduct Monthly Audits of Client Product Usage
Action: Review clients’ product selections and usage patterns monthly. Suggest alterations and corrections that better align with their needs and market conditions.
Expected Outcome: Clients will be using the most appropriate and cost-effective products, maximizing their benefit from Experian’s services. This proactive approach can also identify opportunities for upselling or cross-selling.
Mistakes to Avoid: Base your suggestions on data and client goals, not just personal preference. Ensure your recommendations are well-supported and clearly explained to the client.
Step 6: Manage the Salesforce CPQ Module
Action: Handle requests and pricing updates within the Salesforce Configure-Price-Quote (CPQ) module. Monitor ticket movement and test completed CPQ tasks.
Expected Outcome: The CPQ system will accurately reflect product pricing and configurations, ensuring smooth sales processes and correct billing. Efficient task management prevents delays in client onboarding and order fulfillment.
Mistakes to Avoid: Double-check all entries for accuracy before submitting or closing tickets. Inaccurate pricing or configurations can lead to significant financial and client relationship issues.
Step 7: Oversee Batch Governance
Action: Audit Analytics products used in batch processes. This involves reviewing current products, replacing legacy ones, and suggesting better alternatives. Recommend process changes to improve delivery time, accuracy, compliance, and client satisfaction.
Expected Outcome: Batch processes will be optimized for efficiency, accuracy, and compliance. This leads to faster delivery of insights and improved client experience.
Mistakes to Avoid: Do not overlook the impact of batch changes on existing workflows or client systems. Thorough testing and clear communication are essential before implementing any changes.
Step 8: Support Commercial Readiness
Action: Participate early in Analytics pricing discussions to help create proposals for internal and client review.
Expected Outcome: You will contribute to the development of competitive and profitable pricing strategies. This involvement ensures that product offerings are commercially viable and attractive to the market.
Mistakes to Avoid: Ensure you understand the cost implications of different product configurations and service levels. A lack of commercial understanding can lead to proposals that are either too expensive or not profitable enough.
Step 9: Assist with Future Product Development
Action: Support the Product Manager with future product designs, implementations, and Go-to-Market activities as needed.
Expected Outcome: You will gain exposure to product innovation and strategy, contributing to Experian’s future growth. This step allows you to apply your learnings and develop strategic thinking skills.
Mistakes to Avoid: Be open to new ideas and provide constructive feedback. Remember that your role is to support, so be prepared to assist with tasks that may be outside your immediate comfort zone.
Next Steps in Your Analytics Journey
Now that you have a clear roadmap for managing Experian’s analytics products, the next logical step is to begin applying these principles in your daily tasks. Focus on building strong relationships with your colleagues and clients, and never stop learning. Consider exploring additional product management resources to further deepen your expertise in this dynamic field.
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