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Unleashing Data Analysis for Product.
This week's topic: Let's go over the benefits of using/creating data to help feed your backlog.
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“I’ve seen some of the reports our leaders use to manage their teams. Business data is great…but how should I use it to feed my backlog?”
Welcome to this exciting journey into the world of data-driven product management. In this digital era, data isn't just numbers and stats—it's a gold mine of insights waiting to be unearthed. By digging into this treasure trove, we can find nuggets of wisdom that guide us in creating or enhancing product features that truly resonate with our users.
Leverage Existing Data: Interpreting Your Company's Reporting
Let's face it; we're swimming in data. From user activity logs to sales reports, an ocean of data can sometimes seem overwhelming. You can conquer this ocean, one wave at a time.
Start by identifying key metrics in your reports, segmenting them by relevant categories (like user demographics), and scrutinizing customer behaviors. Once you crack this code, the data transform from an intimidating monolith into a helpful guide for your product journey. Many of our companies have some central reporting - I would suggest (especially if you’re new) learning the ins and outs of navigating this data. The best case scenario is not relying on others to get you what you need to make decisions/recommendations.
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Prioritizing Data-Generating Features: Getting the Information You Need
Imagine building a feature that doubles as a source of valuable data. Sounds great, right? By prioritizing data-generating features, we improve our product and gather user insights to guide us in future decisions.
For example, an in-app survey might be a feature that improves user engagement while simultaneously giving us insights about our user base. So, why not prioritize this and get the best of both worlds? When you’re coming into a new org, there’s a great chance that creating the data you need to understand what is going on just isn’t there. Make a case to create that data and show your stakeholders how creating xyz feature will better position you down the road for feature creation.
Bridging the Gap: Using Data to Drive Feature Creation and Improvement
Picture this - you've analyzed your company's reports and implemented a few data-generating features. Now, it's time to turn these insights into action. By understanding patterns and trends in the data, you can unveil hidden opportunities for feature development and product optimization.
Imagine discovering from your data that users spend much time on your app's tutorial. That's your cue to refine the tutorial feature, making it more engaging and user-friendly. It's a bit like detective work; the clues are all in your data. Have access to sessions? Figure out how you can parlay this great data source into feature creation as well. Going off gut here - I believe there’s a direct correlation between the amount of data you access and the quality of features you can build.
By harnessing the power of data, we can revolutionize our approach to product management. As we navigate through data, leverage it, and act on the insights, we are equipped to build features that truly matter to our users. Are you ready to unleash the power of data analysis in your product journey?
Now, over to you. How do you approach your company's data to inspire feature creation and improvement? Is there a data-generating feature you've found particularly valuable? Let's keep this conversation going.
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