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Product Market Fit and Evidence Based Management, the perfect pair
- The Product Owner is responsible for maximizing the value of the product developed by the Scrum Team.
- Product Market Fit, a concept introduced by Marc Anderseen, ensures a product is in a good market and meets market needs.
- Dan Olsen's Product Market Fit pyramid includes components like target customer, underserved needs, value proposition, feature set, and user experience.
- To achieve Product Market Fit, the Product Owner must focus on understanding target customers, their needs, and creating a unique value proposition.
- Evidence Based Management (EBM) helps measure the value created by the product through intentional experimentation and feedback.
- EBM focuses on four key value areas: Unrealized Value, Current Value, Ability to Innovate, and Time-to-Market.
- EBM and Product Market Fit complement each other in evaluating whether a product is meeting market needs and creating value.
- The Key Value Areas of EBM can be applied to understand target customers, underserved needs, value proposition, feature set, and user experience.
- Product Market Fit and EBM are essential tools for Product Owners to ensure their product meets market needs and delivers value to customers.
- To delve deeper into these concepts, exploring resources like Dan Olsen's 'Lean Product Playbook' and Scrum.org's 'Evidence Based Management guide' is recommended.
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