Importance of Data in Product Management

It’s very important for product managers to be data driven. Understanding data and using it for your products is very important.Data can be used to make important decisions regarding product strategy and designing for your product and to get more insights about your users.Data driven products are the best products.

How important is data for making decisions?

1.Every valuable insights from data helps in making better decisions

2. Helps in understanding what customer needs and what problem they are facing

3. Tracks the entire journey of product and users

4. Helps in making better plans and decisions for product

5. Helps in planning better product plans

6. Decisions taken based on data helps in better forecasting, marketing, business decisions and other core strategic goals.

Data helps PMs in many ways. For eg:

Hope you find this article helpful. Keep learning!

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