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Hire healthcare data to do a job

Applying Job-to-be-done Theory to Healthcare Data I believe that when a customer purchases a product, they are “hiring” that product to do a job. I am influenced by Clayton Christensen’s job-to-be-done theory described in his classic book The Innovator’s Dilemma. In the book, he recounts a time when he worked with fast food chain McDonald’s …

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Embracing real-world uncertainty with Monte Carlo simulations – Part 2

In a previous post we saw how Monte Carlo simulations increase the usefulness of your model in making good decisions in an uncertain world, by incorporating the variability of input assumptions. In this post we’ll look at how to actually build a Monte Carlo simulation. There are plenty of tools out there, but we’ll use …

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Embracing real-world uncertainty with Monte Carlo simulations

It’s annual planning time for many companies, with discussion and debate about where to make investments. A key aspect of product management is the creation of financial models predicting future outcomes in order to make informed investment decisions. “If we spend x dollars to build the product and can get n users to pay us …

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