Intercom’s internal scoring system for prioritizing ideas, RICE allows product teams to prioritize each feature against four factors: Reach, Impact, Confidence, and Effort. The numbers in each column are then turned into one overall score using the formula Reach x Impact x Impact divided by effort.
This number enables you to see how much impact the effort is likely to yield, a pretty important insight to consider when prioritizing requests.
After using this formula on every feature on your list, you’ll get your final RICE score, which you can then use to rank your features by priority.