10 data strategy reasons you don't have PMF
Think of the following as a (long-term, non-trivial) data roadmap for your company, to help you improve product market fit by helping you make data-driven decisions about your customers and product.
Does the initiative answer a key business question?
Are there data gaps/integrity issues? Are you using the right (SQL/noSQL) database for the task?
It’s impossible to get insights from data you didn’t collect.
Not democratizing access to data
No baselines for KPIs
What's your customers' retention window? Engagement? (16 others)
Not tracking positive and negative KPIs
No testing environment for customer session understanding.
Are you able to re-create and debug a customer's checkout session?
No testing environment for product iteration
Are you able to gradually roll-out the next version of your platform to customers?
Missing framework for product A/B testing
Are you able to compare performance of current and proposed (new) version release, as it rolls out to more and more customers?
Do you have control and hold-out groups?
No prioritization of initiatives
Not including employees that work with data into key meetings
(Bonus) What is you culture around (data-driven) product support?
Do you have comments or questions? Please contact me.
Keywords: Product market fit, data strategy, customer understanding, data products, iterative development
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