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Product Data Management: Key Principles for Building a Modern Data Platform
Data product management is a complex and challenging field that requires careful strategy and execution that may differ from the traditional Product Management approach.
To ensure the success of your data platform, it is essential to follow a set of vital fundamentals. Here are my critical considerations based on my experiences on data platforms such as Skywise for effective data product management.
Set a strong data product foundation
1. Know Your Users and the different personas:
Understanding your audience is the first step in product management; moreover, in this use case, your audience uses data in other systems, and users' profiles can be very techie. Conduct thorough market research to understand what your customers seek in data and how they will consume it (visualization;API; Export; Applicative) — It will be the output of your platform.
Companies that treat data like a product can reduce the time it takes to implement it in new use cases by as much as 90%, decrease their total ownership (technology, development, and maintenance) costs by up to 30%, and reduce their risk and data governance burden.
2. Focus on User Experience and define a unique value proposition of a Modern Stack: The user experience is the vital essence of a data product. Ensure your product delivers value and insightful and meaningful data in the right place. Differentiate your data product from competitors by defining a unique value proposition. One of the common pitfalls is to think the application's platform may naturally consume your data, think about service and consumption to define the whole experience. For example, don’t underestimate the setup part and the need for guidance and support.
As you have the chance to have powerfull stack you are to track usages of your dashboard, don’t miss to capture insights — one of the great compotenent to measure it is the Observability and Data Contracts
