Mitigating Risk In Digital Product Development
Controlling the market or consumer habits isn't something product leaders can control.
This leaves product teams making guesses about how customers will react to a new product or feature—without any customer insight to back it up. Relying on hunches and making assumptions rarely works out well, and in the case of digital product development, a single bad decision can lead to exactly what product managers were trying to avoid: wasted time, blown budgets, and the outright failure of their product.
Controlling the market or consumer habits isn't something product leaders can control—or predict. What they can control, however, is how their teams make decisions and what insights inform the directions they take. Although customer insight is one of the most valuable data points in a product's development, it's often skipped in the name of speed or efficiency.
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