Measure Impact, Not Just Features: Defining and tracking key performance indicators (KPIs) is essential for understanding a product’s true success. Metrics like user engagement, customer satisfaction, and revenue growth provide a clear window into how well the data product is delivering value. Data product managers must focus on outcomes that reflect tangible business results, ensuring the product evolves to meet user expectations and business goals.
While a data product is an innovative way of enhancing business productivity, the true power of a data product lies in its ability to leverage data for improved business performance. on data to rcs data malaysia maintain competitive advantage, defining the scope and adopting the principles or best practices of data product management will be essential to unlocking the full potential of data.
The key principles of data product management discussed here can help data product managers and businesses to not only unlock new revenue streams, but also help reduce costs, mitigate risks, and stay competitive in today’s VUCA (volatility, uncertainty, complexity, and ambiguity) business environment.