Introduction
Welcome to this insightful exploration designed for both budding and experienced product managers who aim to nail the FAANG product management interviews. In these competitive settings, structured thinking and frameworks are your best allies. Today, we’re delving into a challenging scenario often encountered in product management interviews: estimating cost for a significant data recovery project, in this case, “We lost all data for street view of Google maps in NY. How much would it cost to replace street view?” Let’s break this down using proven frameworks from the book ‘Decode and Conquer: Answers to Product Management Interviews.’
Detailed Guide on Framework Application
Choosing the Right Framework
For cost estimation questions, the CIRCLES Method™—a framework specifically designed for product design questions—or a tailored version of it, can be extrapolated for cost-related queries. Here, we’ll modify it to focus on costs instead of product design.
Step-by-step Application
- Comprehend the Situation: Identify what has been lost and what replacing it entails. Street View data encompasses panoramic images, geospatial data, and metadata.
- Identify the Users: Consider who uses Street View – real estate agents, tourists, city planners, etc., to ensure all needs are met.
- Calculate the Extent: Determine the area of New York covered by Street View and the quantity of images and data to be recollected.
- Enumerate the Costs: Break down the costs into categories such as equipment, personnel, data storage, and processing.
- List the Steps: Outline the process of recollection, including time to remap and reprocess images.
- Estimate the Resources: Approximate the number of cars, cameras, and staff required, along with the time frame for completion.
- Scope the Downstream Effects: Consider the impact on users during the downtime and possible data improvements or upgrades in the process.
Hypothetical Cost Breakdown Example
Imagine the total area requiring remapping is 300 square miles. If one Street View car can cover 50 miles a day and costs $500 a day to operate, it would require 6 cars working for 30 days, leading to a cost of $90,000 for vehicle operation. Add in camera equipment, personnel, and processing costs, and the estimate might reach $1 million.
Facts Check
Research public data on operation costs for previous similar projects, distances typically covered by Street View cars, and typical image processing times to validate estimates.
Tips for Effective Communication
- Use clear, concise language and logical reasoning throughout your answer.
- Quantify your assumptions and explain your thought process.
- Showcase an understanding of the user’s perspective and business impact.
- Be prepared to defend your estimates with industry norms or logical approximations.
Conclusion
Successfully navigating an interview question about cost estimation to replace lost Street View data involves a modified CIRCLES Method™ framework for detailed, methodical problem-solving. Remember, the key to a strong response is in structuring your answer, grounding your estimates in realistic assumptions, and effectively articulating the impact on users and the business. Practice this approach repeatedly to feel confident and prepared for your FAANG product management interviews.