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Collaborative, startup-bred product leader, driven by empathy ❤️ — 🤖 AI/ML for 6 years

#productmanagers, can you use #ChatGPT for basic financial modeling? Yes, and here’s an example. Should you? Probably not—anyone can quickly do basic modeling easily in a spreadsheet. But, interestingly, taking the conversational journey with an #LLM can yield interesting insights, as I found out. I wanted to test ChatGPT to see how it might help us make an either/or decision between two potentially profitable options, in this case attacking low margins vs. growing the share of market. Here’s the initial prompt: > Pretend you are a product manager at a #saas startup. Contracts renew annually. You have 10 customers, each paying $100,000 per year. Your net #margin is 20%. #Churn is about 10%, meaning 1 customer is likely to not renew each cycle. As the person responsible for the product roadmap, you have a choice between features that will grow the number of customers 2 per year, increase margin 10% per year, or decrease #churn completely. Given a three year time horizon, and a goal of maximizing #revenue (vs. #profit), what will you do?   The permutations and conversation went on for a while (it’s a real talker!) but the twists and turns are really interesting and instructive, so I encourage you to click through to the full blog post: https://lnkd.in/gfHNQwV7 tl;dr: * After your prompt is fully engineered (which may require lots of context-setting too), ChatGPT does a good job of building a financial model. * A spreadsheet is naturally a better tool for modeling, but imagine explaining your spreadsheet to people who aren’t familiar with the inputs, or the rationales behind the formulas. ChatGPT’s chatty responses and step-wise explanations could really help get people up to speed and shortcut skepticism. A companion spreadsheet then becomes a great tool for fussing with the variables in what-if scenarios. * As always, you have to be careful about looking for and LLM’s confident lies: https://lnkd.in/gw7HSyK2 * ChatGPT continues to delight me with #insights I wasn’t expecting, namely about sensitivity #analysis. * We’ve known that context matters to the LLM, but now we’ve demonstrated one way how. Variations of a prompt in a fresh thread will result in different and possibly less useful information. #financialmodeling #ai #ml #llm #productmanagement #saas #artificialintelligence #machinelearning #roadmapping #prioritization #saas

ChatGPT fixes your roadmap with financial modeling

ChatGPT fixes your roadmap with financial modeling

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Glen Ford

Collaborative, startup-bred product leader, driven by empathy ❤️ — 🤖 AI/ML for 6 years

11mo

Josh Tong, you're our local AI-in-product expert. Have you tried anything like this? I'm curious to know your insights.

Glen Ford

Collaborative, startup-bred product leader, driven by empathy ❤️ — 🤖 AI/ML for 6 years

11mo

Danielle Maravelas, MSc — this is similar to what we were chatting about just now and your ChatGPT experiments.

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