Yu Wang

Challenge

In the payments industry, one of the challenges is how we can help our merchants increase their  sales through higher conversion rates and basket sizes. This could be via various ways to generate  demand such as promotions, marketing, etc.

Selection

As mentioned in the lectures, ideas are many and usually not good. Hence, I needed a way to be able  to sieve out the good ideas from the bad. In my organization, there are many stakeholders with  varying priorities and needs and allowing a diverse group of stakeholders to discuss and be non- biased is very important to prevent group think. As a result, I have decided to select the learning  launch tool from module 4.

Application

I start the process by gathering all stakeholders into a large Zoom meeting (this would be a large  meeting room during pre-Covid days) to brainstorm. After brainstorming, everyone will write their  ideas on a Google Sheet and we will try to cluster the ideas into certain categories (or business  concepts).

Once we have identified these business concepts, the next step is to identify the hypothesis of the  concept. For example, providing promotions will help increase traffic and basket sizes. Next, we will  need to identify the key assumptions that will make this hypothesis work. In this case, it could be  that brands must be willing to fund or co-fund the amount.

Once we have identified the key assumptions, it is time to create an experiment to test it. I will first  need to find the key stakeholders who will be involved, for example, sales to reach out to the  brands, marketing, and operations to configure the promotions, and analytics to track the  performance before and after the test. Ideally, this experiment should be carried out on about 5 to  10 merchants during a non-sales period to prevent any skewing of sales data.

After the experiments are completed and collated. the team can decide if they are satisfactory and if  we should go ahead or pivot to another solution.

Insight

What I have learned from this tool is that it helps reduce confirmation bias and group think. This  allows ideas from less senior and vocal individuals to be surfaced to the rest of the team. Often, in  most organizations, when ideas are suggested by a more senior person, people are less likely to  disagree and tend to agree and this can be dangerous.

Through this tool, we can better brainstorm and select ideas on a more pragmatic and non-biased  approach. Through experimentation, it also allows the organization to test and fail fast before  spending too much time on development.

Approach

If I do it again, I will try to incorporate the other tools discussed in the course such as visualisation,  storytelling and mind mapping to better enhance the design thinking process. For example,  visualisation of the problem will help the team better identify the issue and could lead to better  brainstorming of ideas.


Yu Wang Challenge In the payments industry , one of the challenges is how we can help our merchants increase their sales through higher conversion rates and basket sizes . This could be via various ways to generate demand such as promotions , marketing , etc . Selection As mentioned in the lectures , ideas are many and usually not good . Hence , I needed a way to be able to sieve out the good ideas from the bad . In my organization , there are many stakeholders with varying priorities and needs and allowing a diverse group of stakeholders to discuss and be non- biased is very important to prevent group think . As a result , I have decided to select the learning launch tool from module 4 . Application I start the process by gathering all stakeholders into a large Zoom meeting ( this would be a large meeting room during pre - Covid days ) to brainstorm . After brainstorming , everyone will write their ideas on a Google Sheet and we will try to cluster the ideas into certain categories ( or business concepts ) . Once we have identified these business concepts , the next step is to identify the hypothesis of the concept . For example , providing promotions will help increase traffic and basket sizes . Next , we will need to identify the key assumptions that will make this hypothesis work . In this case , it could be that brands must be willing to fund or co - fund the amount . Once we have identified the key assumptions , it is time to create an experiment to test it . I will first need to find the key stakeholders who will be involved , for example , sales to reach out to the brands , marketing , and operations to configure the promotions , and analytics to track the performance before and after the test . Ideally , this experiment should be carried out on about 5 to 10 merchants during a non - sales period to prevent any skewing of sales data . After the experiments are completed and collated . the team can decide if they are satisfactory and if we should go ahead or pivot to another solution . Insight What I have learned from this tool is that it helps reduce confirmation bias and group think . This allows ideas from less senior and vocal individuals to be surfaced to the rest of the team . Often , in most organizations , when ideas are suggested by a more senior person , people are less likely to disagree and tend to agree and this can be dangerous . Through this tool , we can better brainstorm and select ideas on a more pragmatic and non - biased approach . Through experimentation , it also allows the organization to test and fail fast before spending too much time on development . Approach If I do it again , I will try to incorporate the other tools discussed in the course such as visualisation , storytelling and mind mapping to better enhance the design thinking process . For example , visualisation of the problem will help the team better identify the issue and could lead to better brainstorming of ideas .