Initiative-level Slides: https://docs.google.com/presentation/d/1YK9G1tqCIYferuYI6zgnAra5wcOrs4IvtQxMXrrJg8s/edit?usp=sharing

Customer/User Job-to-be-Done or Problem

As a user, I would like to access Lightcast data so I can derive more in-depth insights across many regions, data types and for all historic years for my organization. Currently, the data that we can download is limited by geography and segmented by data making it inherently hard to select many data points for all regions (and subregions) or unselect them at once. 

Value to Customers & Users

There are limitations to the existing reports and users have left Lightcast for more robust data access provided by our competitors. The user needs a better tool because:

1. They can’t perform analysis/modeling type of work

2. They can’t compare regions or data on any scale

3. They can’t graph trends over all periods

4. They can’t easily couple types of data (within or outside of the platform)

5. They are not sophisticated enough for our API or aren’t willing to pay for our API

Value to Lightcast

Community’s top competitor offers a more robust data downloader that is frequently cited as a reason for loss - direct competitive impact.

We have lost a number of clients to our competitors because they provide users with the ability to customize their data downloads. While we have an existing data downloader, our users say that we could make it better by improving their customized data pulls.

We can charge a premium for clients that require access to more data but aren’t sophisticated enough or willing to pay for our API.

Target User Role/Client/Client Category

Primary target users include:

• Real estate/asset management

• Workforce agencies

• Economic developers

Additional value becomes available across markets:

• Institutional researchers

• Companies

Delivery Mechanism

Users will be able to access this data and report via front-end - it is still TBD whether this will be delivered via Analyst.

Success Criteria & Metrics

• $250-$500K in Net New ARR sales by the end of 2023 (includes platform sales triggered by the introduction of this tool)

• 15+ Current Custom upsells by the end of 2023

Phased Rollout / Tasks:

• PI Two

  • Asynchronous File Downloading research

  • File Repository API

  • Customer interviews / research / feedback

  • Initial UI/UX Ideation

• PI Three

  • File Repository Front End

  • Asynchronous File Downloading execution (apply to existing Data Download reports)

  • UI / UX Completion

  • Feedback from Customers / CREs / Sales

• PI Four

  • MVP Build - Focus on priority set of Data Points / Levels

  • MVP Release - either internal or add some key customers

  • Release Planning / Marketing / Sales Feedback

• PI Five

  • Full Build / Release - all required data points / levels

  • Release Planning

Solution Description

Early UX (wireframes or mockups)

<MiroLink>

Non-Functional Attributes & Usage Projections

Consider performance characteristics, privacy/security implications, localization requirements, mobile requirements, accessibility requirements

Dependencies

• Asynchronous Data Downloading: https://economicmodeling.atlassian.net/wiki/spaces/DPM/pages/2612789249

• File Repository: https://economicmodeling.atlassian.net/wiki/spaces/DPM/pages/2488500656

Legal and Ethical Considerations

Yes

High-Level Rollout Strategies

1. Figure out our contract terms and get feedback from CS, Marketing, and Sales on driving this new initiative

2. Interview clients who left Lightcast for a competitor’s data downloader OR check Salesforce for feedback as to why these clients left for our competitors

3. Create a prototype and get feedback from stakeholders, teams, etc.

4. Work with the Engineering team on estimated timelines and LOE to create the tool within Analyst

5. How long we would tolerate having a “partial rollout” -- rolled out to some customers but not all

6. Monitor usage and feedback from customers

Risks

• Do we provide access to all Lightcast data? Here are some risks we run into:

  • There is time-value of our labor cost for pulling the data

  • The question of whether there is use for CS with this feature

  • Cutting off potential API sales

  • Cutting off potential consulting sales

Open Questions

• How else do our competitors outperform us with their version of a data downloader?

• How much can we charge for this tool as an upsell where it provides enough monetary value to Lightcast, without matching the cost of selling our API?

• Would Talent provide additional resources to expedite the timeline on this project?

Complete with Engineering Teams

Estimated Costs

Direct Financial Costs

Are there direct costs that this feature entails? Dataset acquisition, server purchasing, software licenses, etc.?

Team Effort

Each team involved should give a general t-shirt size estimate of their work involved. As the epic proceeds, they can add a link to the Jira epic/issue associated with their portion of this work.