For IHS Markit's Maritime & Trade analytics, should we prioritize expanding coverage to more ports or increasing update frequency for existing locations?

Introduction

The trade-off we're examining today is whether to prioritize expanding coverage to more ports or increasing update frequency for existing locations in IHS Markit's Maritime & Trade analytics. This decision involves balancing breadth versus depth of data, which could significantly impact our product's value proposition and market position. I'll analyze this trade-off through multiple lenses, considering user needs, technical feasibility, and business impact.

Step 1

Clarifying Questions (3 minutes)

• Based on our current market position, I'm thinking coverage expansion might be a priority. How does our current port coverage compare to our main competitors?

Why it matters: Helps assess competitive advantage and market gaps Expected answer: We're trailing in coverage for emerging markets Impact on approach: Would lean towards expansion if significant market share could be gained

• Considering user behavior, I'm assuming different user segments might value coverage vs. frequency differently. Can you share insights on how our enterprise vs. small business customers use our analytics?

Why it matters: Ensures solution aligns with key user needs Expected answer: Enterprise clients value broader coverage, small businesses prefer frequent updates Impact on approach: Might suggest a segmented solution or phased rollout

• From a technical standpoint, I'm wondering about our data collection and processing capabilities. What's our current update frequency, and how much could we improve it without significant infrastructure changes?

Why it matters: Determines feasibility and cost of increasing frequency Expected answer: Current is weekly, could move to daily with moderate investment Impact on approach: If easily achievable, might prioritize frequency increase

• Regarding resources, I'm curious about our team's capacity. Do we have dedicated teams for coverage expansion and update frequency improvement, or would this require resource reallocation?

Why it matters: Assesses internal constraints and potential trade-offs Expected answer: Shared team, would require prioritization Impact on approach: Might suggest phased approach or hiring strategy

• Thinking about timelines, is there any upcoming industry event or regulatory change that might influence the urgency of either option?

Why it matters: Helps prioritize based on external factors Expected answer: New environmental regulations coming in Q4 requiring more frequent reporting Impact on approach: Could prioritize frequency increase if it aligns with regulatory needs