The art of product development has a lot in common with the art of conversation. The first rule of both is to be a good listener. The very best product teams today grow their businesses by listening to what their users are telling them. Successful product leaders analyze user behavior and other sources of data to understand how to engage and keep customers happy. Winning brands never stop analyzing, measuring, and improving every aspect of the customer experience.
To better understand how successful product teams turn user behavior data into business-building insights, we surveyed more than 450 professionals who belong to product organizations, like product managers, leaders, and UX designers, from companies across industries and all over the world.
In this report you’ll find
The burning questions that product teams are constantly trying to answer.
The main challenges that stand in the way of product-led growth.
The strategies that product teams are employing to solve their biggest challenges.
The role product analytics play inaccelerating innovation.
Data-led product innovation is happening globally.
For those of you who thought that data-led product innovation only happens in tech hubs,think again. While tech-forward cities like San Francisco, New York, and London do have higher concentrations of product teams, data-led innovation is happening globally
The most sophisticated product teams rely most on quantitative data from product analytics solutions.
Product teams of all levels of sophistication are leveraging lots of data sources like surveys, analytics tools, and competitive intel to inform decisions. But the most data-sophisticated product teams look to product analytics that measure user behavior to drive innovation.
Retention, engagement, and conversion are the top metrics for product teams globally.
This is no surprise, but focus metrics vary across specific industries. (Hint: It’s not always what you think.) Across geographies, Europe tends to care most about engagement metrics like Active Usage and Activation; the U.S. tend to focus more on top-line metrics like Revenue.
Only 10% of product teams are able to validate all decisions with data.
Data is abundant, but only 10% of product teams feel they are able to validate all decisions with data, and only 38% feel they can effectively measure their top metrics. B2B companies struggle most with this.