LOS ANGELES, Dec. 1, 2023 /PRNewswire/ — Technology is changing the way businesses operate and compete in a global marketplace. In the dynamic landscape of evolving and refined technologies, businesses face a formidable challenge in innovating and sustaining competitive relevance.

Creating and launching a successful, lucrative, and enduring technology product is a complex, lengthy, and time-consuming process. But one expert contends that the solution lies in embracing the simplicity of a fundamental triangle. Zihao Li, a senior staff member in business analysis for a leading global financial services and investment company in Raleigh, NC, has developed a system poised to reshape the blueprint for tech product success. The “Tech Management Trinity,” as he calls it, consists of a theory that necessitates a paradigm shift in corporate thinking and challenges the conventional wisdom that a top-down approach is the sole path to success.

“The Tech Management Trinity,” says Li, “can be viewed as an equilateral triangle, a shape renowned for its inherent strength.” In Li’s system, the first leg of the Tech Management Trinity is data governance. This involves the creation of policies, standards, and procedures for data management to ensure data is accurate, reliable, and secure. Data is essential to understanding customer needs, behaviors, and preferences. “By leveraging artificial intelligence to gather real-time data, companies can gather valuable insights that inform better decision-making,” Li says.

The second leg of The Technology Management Trinity is products. “Based on the information gathered about the customers, companies can create more innovative products and deliver them to their customers faster and better,” Li says. “For example, companies can use AI to personalize product recommendations.” Information gathered during the product-development cycle can also lead to improvements prior to commercial launch.

The final leg of The Technology Management Trinity is people. “The human factor is essential to the success of any product—technology or otherwise,” Li says. “It is vital that organizations foster a culture of collaboration. This will unlock creativity and innovation that leads to marketplace distinction.”

The Technology Management Trinity connects three intrinsic components in technology companies, according to Li. “By adopting an equitable approach to products, data governance, and people, companies can create technology-driven products designed with user-centricity,” he says. A 2023 study underscores the pivotal role of product managers in organizational success, with 68 percent saying product managers are recognized as valued leaders within their companies. Despite this acknowledgment, 95 percent of new products introduced into the marketplace fail. “Having a product manager does not inherently ensure the success of a product,” Li says. “Instead, success is contingent upon product managers who not only grasp the intricacies of engineering but also harbor the mindset necessary to skillfully shape the product into a desirable form that addresses all three elements of the Tech Management Trinity.”

Li’s trinity-based approach extends beyond product management, fostering an environment of confidence among employees and customers in the company’s commitment to ethical and secure financial practices. Tangible outcomes include enhanced employee awareness and customer trust, measured through surveys and feedback. The holistic risk management facilitated by the trinity relationship translates into increased operational efficiency, evidenced by reduced response times to emerging risks and optimized resource allocation in compliance efforts.

In a dynamic and competitive landscape, the Tech Management Trinity emerges as a robust framework for balancing product development, data governance, and human factors. As businesses adopt this innovative approach, they gain a comprehensive path forward, not just saving costs but accelerating product launches, improving success rates through fostered communication and targeted strategies, and solidifying their position as industry leaders. Zihao Li’s groundbreaking system is not just a management philosophy; it is a transformative force reshaping the future of tech companies worldwide. For more information about the Tech Management Trinity, contact Zihao Li at [email protected] or (919) 813-8052.

Contact:
Jamie Pagett                                                               
Trade Press Services                                                 
[email protected]
(805) 496-8850

SOURCE Zihao Li