Data-Driven Product Development

Source: Venturebeat, Mar 2011

Data-Driven Marketing

Armed with the ability to measure results at a fine-grained level, marketers started making more data-driven decisions about their advertising. The ability to measure was catalyzed by online advertising, a uniquely traceable medium for marketing. Accessibility to simple but sophisticated analysis tools like Google Analytics only increased marketers’ abilities to be data-driven. Not only could they trace where their dollars had been spent, but also the effectiveness of each program, message, source and landing page from influence through to purchase. The next generation of marketers was born: data-driven marketing analysts.

Starting Data-Driven Product Development

With the move to web-based Software-as-a-Service (SaaS) systems that can be instrumented to measure usage (Google Analytics, MixPanel, etc.), product teams now have access to rich data on how an application is really being used. Strangely, though, most product development teams still don’t use this information (let alone instrument their applications). Why?

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