Code Interpreter is a game changer for Product Managers
The ChatGPT Code Interpreter can analyze datasets within minutes, empowering product managers to comprehend trends crucial for decision-making. These trends may involve churn risk, buying patterns, and usage behaviors. Previously, the same task would have consumed days or weeks when reliant on a data analyst, especially if they were engaged with multiple competing projects. Now, product managers can self-serve by utilizing the latest analytical tools, including machine learning, even if they possess limited experience in the field of data science.
Let's walk through an example that takes literally 5 minutes to complete.
I'm using a data set representing 4,250 customers subscribing to a phone plan. The data set includes information about each customer using their phone plan and if they have churned. The goal is to understand a customer's profile that churns so that, as a product manager, I can flag these customers to customer success for immediate action and plan roadmap features to lower the churn in the future.
Step 1: Enable Code Interpreter in ChatGPT
Step 2: Upload the data file and ask ChatGPT to describe the data. This will help you familiarize yourself with the data set (handy if your data analyst provided the data).
Note the summary statistics - you get them automatically with the request. Wouldn't it be great if you had a visualization to go with that? Some of us work better with visuals.
Step 3: Ask ChatGPT to graph the summary statistics.
Now for the most critical task. Are there any patterns in the data that will help us identify why customers churn? We need this insight to stem the churn immediately with manual actions (a partnership with customer success is typically the most effective). In parallel, we'll work to identify features to add to the roadmap to increase customer retention by meeting with customers at risk (and those who churned if they are open to a conversation).
Step 4: Let’s ask ChatGPT to identify a pattern for customers that churned. This is the most impressive aspect of Code Interpreter. You essentially have a Data Science partner to help you with the request, and the summary is pretty compelling about what you should look into next.
We have action items to pursue immediately. And to top it off, we can also ask ChatGPT to share the code used to generate this analysis, so that we can continue working on this analysis later on.
Step 5: Ask ChatGPT to show the code to generate the analysis. Note: I copied the code from ChatGPT into VS Code to capture the complete output.
Very impressive.
In conclusion, you can become a much more effective product manager in minutes if using ChatGPT Code Interpreter to help you analyze customer data sets. Your findings, actions, and speed of results will impress even your most skeptical manager.