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How data-driven decisions set you up for growth

You may think you know what your audience wants so that you can grow your product. If you don’t have data to confirm your hypothesis, you’re not going to know for sure. When you have data to inform your decisions, you can improve your decision making and increase the likelihood that you’ll experience the growth you seek. Elizabeth Chung takes a look at “the importance of testing your hypotheses and how a data-driven culture” can help your product grow. Elizabeth suggested to support a data-driven mindset, you may want to encourage brainstorms, create a schedule of A/B tests, and ask “why?” (via @elizchung)

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Product Analytics: A comprehensive guide to using data for better product decisions

If  you want to grow your product, you need to get new customers and retain the customers that you already have. In order to do that, you need to be able to answer a series of questions about your customers. Ruben Ugarte explains how product analytics can help you answer those questions and make decisions that impact the growth of your product. (via @ugarteruben)

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What are some decisions that the Facebook “growth team” made to rapidly grow the number of Facebook users? 

Andy Johns describes the general types of decisions that the growth team at Facebook used to help Facebook reach it’s first 500 million users. He describes decisions around tactics, decisions around strategy, decisions around hiring, and decisions around priorities and culture. (via @ibringtraffic)

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Growth decisions based on tracked positive & negative experiences

If an existing user’s experiences are positive, you want them to tell others. If their experiences are negative you want them to tell you. Dicky Singh explains how you can use “the difference between positive and negative experiences to make multiple decisions, including whether to ask for an app-store rating, ask for a review in an e-commerce product, recommend user update to a newer version of the app, redirect to support, or recommend installing other apps.” (via @dickeysingh)

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Become data-driven: 9 data-ish resources for product, growth, and marketing professionals

You want to grow your product and you’re convinced that data-driven decisions can help you do that. But if you’d like to learn more about data driving your decisions, where can you look? Buckley Barlow suggests nine resources “that can help you get started in data-driven decision making. You need to start with a foundational knowledge, garnered from the best experts in data.” (via @BuckleyBarlow)

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The Problem with Data-Driven Decisions

You mean data is not the holy grail? Trust Des Traynor to be the one to remind us that it’s not that easy. According to him, insights coming from data are just one part of the puzzle. Companies in different markets with different challenges will have other forces governing their decisions, such as competitive pricing models and being customer focused. This will result in those companies needing to make decisions counter to what they are learning from looking at data.

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Data-Driven Decision Making Is Product Management

In this podcast, INDUSTRY speaker alum Maggie Jan underscores the importance of looking for trends in data and questioning your natural intuition regularly.

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Here’s Why Every Product Manager Must Learn to Love Data

You must not dismiss working with data because you are not a “math person”. So says Heather McCloskey who reminds us that using data to make decisions doesn’t have to be difficult. There are a multitude of analytic tools available to make your life easier and if you want to go deeper, you’ll only need a quick refresher on statistics to make sense of what’s in front of you.

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Data-Driven Product

At INDUSTRY ’16, Maggie Jan, a data scientist at Keen.io gave a detailed talk on using data to build products that matter. She covers everything from the start when you are conducting ‘Build, Measure, Learn’ processes to how data can be visualized effectively.

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