Today, most companies don’t use any data to determine which features they can build into their products. Instead, those decisions are made through the guesswork of a couple of execs. More importantly, the decision doesn’t take into account the input of other members of the organization.
Wizeline, which was founded by Ooyala co-founder Bismarck Lepe, wants to solve the product prioritization conundrum. To do so, it’s built a platform designed to enable companies to better understand which products or features they should build, based on feedback from multiple members and departments in an organization.
Wizeline has a dashboard that provides product managers with feedback on different products they’re looking to build. It uses a proprietary algorithm that takes into account information from multiple sources and ranks products based on what it determines to be the biggest market opportunity.
Product is like sex. Everyone thinks they are good at it.—
Michael Cerda (@imcerdafied) January 11, 2013
For product managers, it provides some clarity in terms of product prioritization. But for the rest of the organization, Wizeline makes the process more transparent, while also giving other employees more input into what gets built.
Wizeline helps not only to determine what should get built, but once a project is completed, it can also analyze the usage. In that way, it’s able to determine the success rate and ROI of each product or feature.
The company has been operating in closed beta until today, when it will make its platform generally available to organizations to try out for themselves. While testing its platform out, Wizeline has been working with beta clients like Chartbeat, WePow, Fairfax Media, SnappyTV, and Evergent.
Wizeline currently has about 16 employees, and is funded by investors that include Lowercase Capital, SV Angel, Bowery Capital, XG Ventures, and Core Ventures Group.