The Skyjed indicator for product health.
The Skyjed Product Health-Check determines a measure of your product health.
Skyjed presents an AI based measure of the change in your product health. It helps you interpret how successful your product strategy will be in the current competitive market, social, environmental and regulatory landscape.
Skyjed was created to help you track the performance of your product across more than just financial metrics. The collection of data not only includes financial metrics, but also operational and non-financial metrics.
This data collection enables product managers to monitor their product strategy and set relevant action plans to improve product health. The Skyjed Health-Check includes a rich selection of metrics designed to help you become a more effective product leader. Strategic product decisions are all about timing and the Skyjed platform can help you identify new opportunities and risks giving you the power to succeed.
The Skyjed Product Health-Check uses artificial intelligence and machine learning to provide timely product insights and analysis. The health-check is based on an algorithm and derived from the domain and driver data in your product audit.
Once published, the Skyjed Product Health-Check Index is available from both your Insights and Reports dashboards. This visual indicator displays the following:
- A percentage rating out of 100%
- A colour-coded health meter
The colours used in the health meter are:
- Green: High positive growth potential
- Yellow: Neutral growth potential
- Red: Negative growth potential
Note that the colours are graduated between the three states.
The health-index meter diverges from the centre point at 12 o'clock to allow for side by side comparison. The point of divergence is at 0 for positive and negative growth potential. The maximum possible score for both positive and negative is 100.
The maximum product health score possible is 100 and the minimum possible is 0. A low product health score is not a reflection on a product manager but rather a reflextion of the product being subject to increasing competitor activity, regulatory compliance, cost pressures, technology disruption or rising customer expectations. It should not be considered a negative. What is most important is that you track your product health over time and put in place action plans to improve or even decommission the product at the optimum time.
When you first launch a product, it is likely that your health score will be low. You may not have found the product to market fit. There will be uncertainty around your product strategy and you may not have found a repeatable, scalable model. Likewise, you might also have a low health score on a mature product which has higher revenue but is subject to new entrants and disruption.
In every case, the relative change of the product index is actually more important than the actual numeric value of the index.
[link to How do I implement a Product Health-Check]