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Brian_Williamson_QCV_Problem - CustomerValue...

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Problem of Quantifying  Customer Value By Brian Williamson
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Outline Overview of Quantifying Customer Value Background and Experiences Categorizing Value Feature Selection Instance of the Feature Selection Problem NP-Complete Proof of Problem Conclusion Questions
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Background Quantifying Customer Value (QCV) is a  common problem that many businesses have  had to tackle. It can be summed up as trying to quantify  what your customer, and the stakeholders  want Stakeholders can be much more than the person  buying the final product The problem as a whole is probably  unsolvable (We will discuss). Even the piece I deal with in a generalized  scenario is NP-Complete.
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Experiences with this problem In the research and development work I do we often work to tight  deadlines in an attempt to show a prototype. These prototypes are not the finished product and can only contain  a few talking points. The amount of money given (from profit) to the project is determined  by how much we think these talking points are worth. This is often the start of EVERY new development Have gone through courses at work to understand how the  company handles this. My usual role is to determine the features to talk about so the most  value is given between all of the stakeholders. I can’t discuss these projects, so a car analogy will be used.
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What holds value? Typically, features of a product. For example with a car: Cost Fuel Efficiency Space The first step is getting to know the customer  and determining what these items mean to  them. With each item, we want to give it a number  to understand its importance. This value can then be categorized and  examined
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Value Categories Typically an item can easily be determined  to fall into one of four categories of value. Necessities (Can’t imagine not having this) Items that the stakeholder(s) cannot live without. Requirements (Well, it would be nice if it had  this…) The stakeholder(s) consciously wants  these and  expects them. These items are rarely discussed as  they add little
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Value Categories (cont’d) Expectations (This is a good feature….) These are what the stakeholder(s) are really after.
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