Product conceptualisation is a high level and an initial phase majorly owned by a Business or Management team. It is imperative to convert the concepts to a functional flow with the help of Business Analyst & team. Functional aspect of any product defines all its functionality from the end users perspective. Hence Product Functional Analysis is one of the crtical stage as it is the first steps of product development where all the functinoalities are defined & documented in details.
Functional Analysis of any product are derived from the actual concenpt as discussed with the Concenpt Owner however sometime it also requires analysis and comparision of similar products available in competition, hence the importance of this stage becomes more critical. The analysis enable us to idenfiy our diffrentiator and Unique Selling Point (Product USPs). Once the initial functinoal analysis is complete and documented, it requires multiple round of brainstroming with all the stakeholders and filter out the requirements with release priorities. Sometime we recommend to go with MVP (Minimum Viable Product) and launch it with few of the clients to get the feedbacks and add in the further decision making criterias.
Splice Global helps you analyse your product functions by doing a thorough research with your target audience, do a competion anlaysis of similar products, their demand, feedbacks they have received, customer reactions / acceptablity etc.