On this page, we’re sharing our top tips for getting actual insights about how your visitors use your platform. Data-driven product management is the future – these tips will help you approach product development in a user-centric way.
With more advanced tools coming available, you don’t have any excuses anymore to approach your platform as a black box. Know what’s happening in your application, and find out what features of your product your users actually use. With those facts straight, you can make informed decisions on which features to further develop, which ones to kill, and which ones to market.
To make the right data-driven product & marketing decisions, it is imperative to understand where your data comes from and how it was collected. While not trivial (as many data sources do not fully disclose their ways of collection), having a team-wide understanding of how data is sourced will save many discussions about their meaning. This understanding is also instrumental in combining multiple data sources into a single source of truth, enabling you to take your analytics game to a whole new level.
Businesses underestimate the power of the analytics data they possess. With Objectiv, an open-source analytics tool, we predict the behaviour of users on platforms by using machine learning algorithms. Unlock the potential of your data and know what your users will do before they actually do it.
While it may be tempting to collect lots of data to ensure you’re prepared for any future analysis you may need, this leads to overly complicated, messy datasets that are hard to analyse. The goals of product- and marketing teams are often surprisingly similar between companies (increase conversion or engagement, reduce churn, etc.), which means they require the same kind of data for their analyses. Collecting the correct data is more important than collecting a lot of it.
The difference between the most prominent businesses and the smaller platforms is their approach to user experience. Big businesses approach UX in a data-driven way – they leverage the data to map the customer’s journey and identify bottlenecks that need to be resolved. Small platforms run on intuition and waste valuable time without proof something works. Act more like a big fish, and you’ll be rewarded.
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