Data-Driven Product Management
The Era of Data
Perhaps the famous quote “Show me the money” from the movie Jerry Maguire will shortly be replaced by “Show me the data”.
We need data, we need it bad to make informed decisions, to see patterns, to be smarter. At the same time data is scary. And why is data scary? Because it is power.
If we talk product management you probably want it, the ability to build insights based on many more things than opinions. You can use conversation rates, engagement indexes, financial metrics, you name it. And the combinations are endless, number of purchases in combination with number of calls to support, etc.
We just need to choose, what are we going to use the data for, what does it mean, how are we going to collect it, how to make decisions based on it.
But remember data is perhaps never lying but it is also never telling the truth. Or it might at least not tell the story you think it is.