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Overcoming Cognitive Biases in Product Management

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Srinivas Somayajula Group Product Manager Mailchimp

Product managers are required to make decisions every day on every aspect of products being built and managed – what ideas will make this product a market success? what ideas or features should we prioritize? what are our key objectives and what results do we intend to achieve? And many more. All these important questions and decisions require diligent consideration and analysis of lots of inputs. However, humans have an evolutionary instinct to want to shortcut these (and other life decisions) because of cognitive biases; these shortcuts allow us to come up with judgments that are ‘good enough’ and, frequently, correct. There is, however, a potential (and significant) price to pay – in potential revenue, customer satisfaction, opportunity cost, to name a few – for the speed and efficiency that comes with this bias-based thinking in product management. This presentation is intended to educate the audience on how cognitive biases impact product managers’ decision-making, learn about common biases and how to spot them, and propose potential methods to counteract them. Example of biases highlighted may include the following 1) confirmation bias – the tendency to search for and interpret information to confirm one’s existing beliefs / hypotheses, 2) Dunning-Kruger effect – simply put, is the tendency to maintain a high level of confidence in low levels of competency, and 3) outcome bias – tendency to value a decision based solely on its outcome and not by the decision’s quality at the time of the decision.

Other Talks:

  • My Journey as a PM – 8 Lessons Learned

    KEYNOTE: Silvia Thom CTO Zalora

  • WORKSHOP: Product Ideation with Grab

  • Mastering Marketplace Product Management

    Lakshay Kalra Product Manager Carousell Singapore

  • Product Management and Organisational Transformation

    Maish Nichani Co-founder PebbleRoad

  • Gamification in Media Apps Part 2

    Sumit Kumar Singh Vice President - Online Products Yatra.com

  • The Challenge in Delighting Millions of Patients

    Francois Cadiou CEO and Founder Healint

  • Data Architecture to Augment your 10x Growth Plan

    Kedar Parikh Product Architect Netcore

  • WORKSHOP: How Radical Product Thinkers Build Successful Products

    Radhika Dutt Author, Product Executive Author of Radical Product

    Twitter:
    @radhikadutt
  • Product Evolution for an Inclusive User Base

    Saurabh Gupta Product Manager AirAsia Digital

  • Building High-Performance Products

    Wulan Mantik Head of Product Bukalapak

  • The Worst Beta of All Time

    Helen Xue Product Manager Atlassian

  • Learnings from Delivering Global Products while Staying Locally Relevant

    Sultan Seitbekov Product Manager Booking.com

  • Blurry Edges Make Better Products

    Randy Hunt Head of Design Grab

  • Product Practice Makes Perfect

    KEYNOTE: Chris Griffiths Chief Product Officer TrueDigital

  • Product Marketing Managers in B2B Companies

    Nikhil Gupta Product Marketing Manager Honeywell International

  • Ask Me Anything with Chris Griffiths

    KEYNOTE: Chris Griffiths Chief Product Officer TrueDigital

  • Ask Me Anything with Rajiv Bhuta

    KEYNOTE: Rajiv Bhuta Product Leader in Supply Chain Technology Walmart Labs

  • Building for Next Billion Users

    KEYNOTE: Tania Aidrus Director of Product Management Google

  • How Agility Halved our Staff Turnover

    Jolynn Tang Product Owner iPrice group

  • Beyond GUI (an Exploration of Voice UI)

    Yitch (Cheng Yi Chiao) Head of Technology Sustenir Group

  • Measuring the Right Thing: A Framework for Nailing Product Metrics

    Isha Mehta Product Manager Atlassian

    Twitter:
    @isha_mehta_
  • Ask Me Anything with Apala Chavan

    KEYNOTE: Apala Lahiri Chavan President & Chief Design and Delivery Officer Human Factors International

    Twitter:
    @FuturistApala
  • UX Design and Product Management – How Does the Twain Meet?

    KEYNOTE: Apala Lahiri Chavan President & Chief Design and Delivery Officer Human Factors International

    Twitter:
    @FuturistApala
  • Down the Rabbit Hole: When Product Managers are Motivated by Why, and Not What, Magic Happens!

    Nabayan Roy First VP - Platform and Engagement, Group Retail Digital UOB

  • Role of a PM in an Ever-Changing B2B Market

    Sudeept Srivastava Sr. Product Manager VMware

  • Gamification in Media Apps Part 1

    Sumit Kumar Singh Vice President - Online Products Yatra.com

  • Recommending for India

    Amit Velingkar Group Product Manager, Recommendations Flipkart

  • Building Machine Learning Products

    Yaoyee Ng Product Manager GO-JEK

  • Let’s Squadify! Lessons Learnt Transitioning from a Component Team Model to a Squad-Based Model

    Jonathan Wong Head of Product Rakuten Viki

    Twitter:
    @armchairdude
  • Don’t Just Fail Fast, Fail Early and Cheap

    Praful Poddar Head of Product OLX Group (Naspers)

  • Hi, I’m a Product Manager and I’m the Hostage Negotiator

    Colin Pal VP, Product Photobook Worldwide

    Twitter:
    @agilepal
  • Managing People Like Managing Product

    Casper Sermsuksan Founder & CEO Edaf

    Twitter:
    @casperisto
  • Working Backwards: A Way to Define Products

    Daria Tarawneh Senior UX Designer Amazon Web Services

  • Transforming Product Culture at Scale

    Vincent Chan Director of Product Management GOGOVAN

    Twitter:
    @VincentChan
  • Microsoft Forms: Crafting a Relationship Between PM and Design

    Doug Walston Design Director Microsoft

    Kathy Liu Lead PM Microsoft

  • From Product Leader to Visionary: The Radical Approach to Creating World-Changing Products

    Radhika Dutt Author, Product Executive Author of Radical Product

    Twitter:
    @radhikadutt
  • The Holy Grail of Engineering & Product Squads

    Ridzwan Aminuddin Director Product Management Ninja Van

    Twitter:
    @RidzwanAmin
  • Personalization from a Product Perspective

    Inga Chen Product Manager, Personalization & Recommendations Spotify

  • Mastering Pricing in a Digital B2B World

    Marcos Rivera Founder PRICING I/O

  • Think Before You Build and Fake It Till You Make It – Machine Learning

    Marta Skassa Product Manager, Digital Experience Zalando

  • Scaling the Product Manager

    Sharon Anne Kean Director of Product SEEK Asia

    Twitter:
    @sharonannekean
  • Product Growth = Personal Growth

    Christine Sou Senior Product Manager TransferWise

  • From Idea to Launch at Google: The Role of a Product Manager

    James Morehead Product Manager Google

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