We offer a structured approach to answer Product Estimation questions. A structured approach is necessary as else every question will appear different. In addition to a structured approach, we also show multiple examples of how to solve product estimation questions often asked in Product Management interviews by top firms, such as Google and Facebook. We differ from other courses online as we focus on Product Estimation Questions.
- Framework to ace Product Estimation Interview Questions
- Complement framework with segmentation approach
- State the high level equation
- Make necessary assumptions
- Estimate the problem at hand
Framework to ace Product Estimation Interview Questions
We have developed a framework that applies to all estimation questions. It is really 40% of the work in every estimation question. See the video below to get an introduction to our course. We also have an e-book on Amazon if you prefer written material
Complement framework with segmentation approach
After solving multiple such questions using the framework highlighted earlier, we noticed that the technique of segmentation is very powerful. For example, if solving a product estimation question for Google, one is asked how many uber rides are done in a day? At first, it might seem daunting to answer this question, but lets see how segmentation helps.
If we segment the users by age, say 0 to 20 years, 20 years to 60 years, and 60 years to 80 years. Uber has a policy of allowing only riders above age 18. Riders in the age group of 60 to 80 years usually are not frequent uber riders. Our target users is the 20 to 60 years age group. If we assume the US population is uniformly distributed with a life expectancy of 80 years, the percentage of users in the 20 to 60 years group is 40 / 80 or 50%. Given the population of New York is 8 million, we can estimate 50% of 8 million or 4 million are potential uber riders.
The above shows how we solved a product estimation question using segmentation. We segmented the users based on age and worked from there. The course shows multiple powerful example to solve PM interview questions for estimation using Segmentation.
State the high level equation
This is an important step to solve PM estimation questions. This allows the interviewer in a product management interview to guide the interview early on. If we state the high level equation, the interviewer can decide if he or she agrees with your approach. This prevents an interview from going in a direction that the interviewer does not want and realizing that towards the tail end of the interview.
Make necessary assumptions
Assumptions are key to product estimation questions. We cover many of them in our video course. We will soon offer a fact sheet for product estimation questions. The fact sheet is already there in our Amazon e-book: Link to Amazon e book
Estimate the problem at hand
After doing steps 1 to 4, we can estimate the problem. This is usually where we see the power of steps 1 to 4. We provide multiple examples of questions solved using this approach in our course.
Looking for a fact sheet to help answer product management interview questions? Fact Sheet for Product Management interview questions