Why data is important to product managers?

Business & Management
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However, the finest solutions are data-driven, which means you’ll need to get used to working with data on a daily basis.

The ability to collaborate with your team and understand who you are building for and why are the most critical aspects of Product Management.

You also need the data to

Understand customers: Not only do you need to know your customers before you construct your product, but you also need to know how they react to it once it’s launched. You’ll begin to receive information about your users’ pain points and where they’re dropping off. If you understand data, you’ll be able to pinpoint exactly where they are and prioritize which ones to address first.

Make better decisions: A steady stream of data will help you make judgments based on facts rather than instinct as you refine your product. This is especially important when developing new products or working as a Product Manager in a new industry.

Optimize Time: Understanding data will assist you in maximising your time by allowing you to distinguish between urgent and non-urgent tasks. Data should give you a decent notion of what that change will be and how it will affect you. When you choose to work on anything, you are simultaneously choosing not to work on something else.

Manage Stakeholders and teams: This will benefit not only team members but also stakeholders. If you need to persuade someone important that a feature they wanted will not be included in the production, show them the data that indicates the feature is redundant. You’re simply another individual with an opinion if you don’t have data.