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The Build-Measure-Learn Feedback Loop is a process that translates potentially risky ideas or strategies that top management is not completely certain about into beneficial knowledge that can be used to promote progress in the organization. More specifically, this knowledge can be applied to idea and product development as well as general business strategy. In order to use this strategy effectively, the organization must first identify the process that needs to be improved. Therefore, before the loop can be used, background information or “data” should be collected.
Description of Build Measure Learn Feedback Loop
There are three stages in the Build-Measure-Learn Feedback Loop: Build, Measure and Learn
- Phase 1: Build. The general goal of this phase is to design the “experiment” the organization will conduct to come to conclusions about the uncertainties in new product developments or strategies. This involves determining what methods will be used to gather the necessary data as well as the simplistic and realistic steps that can be taken to test doubted assumptions. For example, interviews could be conducted with or surveys could be distributed to key personnel. The results from these actions should be conclusive enough that any alternatives can be ruled out.
- Phase 2: Measure. In this stage, the organization uses the results from the experiment to evaluate whether any forward progress has been made toward determining whether to implement a strategy. The data should be organized in an easily digestible way, made for a broad audience, and studied to decide whether the results demonstrate different patterns from what was expected or not. These conclusions and implications should be presented in an engaging way to the relevant senior leaders.
- Phase 3: Learn. The final phase involves choosing whether to actually implement the contested strategy or consider ways to revise it. The organization might consider talking to customers and other key stakeholders to determine how those outside of the company perceive the decision. Whatever decision is made should be communicated to the rest of the company so everyone knows how to proceed. Additionally, the organization then needs to determine what the next step should be based on the decision that is made.
Praxie's Online Build Measure Learn Feedback Loop Tools & Templates
If your strategy team is looking to build a business case to launch a risky strategy or trying to build consensus around a contentious issue, the new online Build Measure Learn Feedback Loop template from Praxie can help gather supporting data to make that possible. Strategy teams that want to build agreement around a particular project or idea can leverage the Build Measure Learn Feedback Loop to capture test data and feedback on a product before it is fully approved. The Build Measure Learn Feedback Loop also allows strategists to determine the relationships between certain product or service features and perceived value from customers.
Teams benefit from the use of the Build Measure Learn Feedback Loop because it forces them to make their products or services real through experimentation before rolling them out into the real world. Get started with our Build Measure Learn Feedback Loop template.
How to use it:
- Define what you will build and what you will measure.
- Capture what you have learned.
- Repeat the process until you have sufficiently refined the product, service, or business model and it’s ready for launch.
- Create an action plan for completing your Build-Measure-Learn process.
Unlike most traditional Build-Measure-Learn Feedback Loop techniques, Praxie’s online Build-Measure-Learn tools allow any team or organization to instantly begin working with our web templates and input forms. Our digital platform goes far beyond other software tools by including progress dashboards, data integration from existing documents or other SaaS software, elegant intuitive designs, and full access on any desktop or mobile device.