Data-driven product development

It’s all in the Data: finding your next big feature using data-driven product development.

A lot is made of the power of data on technology forums, and I love it. As a Data Engineer, information - to me - is the lifeblood of the modern economy. In the last 50 years alone, data has exponentially accelerated business development by enabling better information at the fingertips of decision makers. Some of the largest industries of the 21st century have been built on the availability and speed of data and information flows. Google search is a great example: they have achieved a market capitalisation of over $1.5Tn by harvesting data volunteered by the public, to provide you with data, so that they can collect data about you to then match with targeted advertising data and charge a fee. When was the last time you made a card payment to Google?

But it hasn’t only affected the efficiency of western industries - data through social media and communication has shone a light on previously exploitable areas. In AFC for instance, data has enabled large institutions to better hold their business lines to account, reducing financial crime and keeping more of the world’s capital in regulated markets. Data has enabled forums and social networking sites to give a voice to the masses, creating a world where online education is freely accessible to anyone with a working internet connection, and creating the means for oppressed peoples to share their plight with others, putting pressure on governments and large institutions, in many cases resulting in changes in power.

We’ve still got so far to go. [data potential]

[Application data]

[Normal product improvement flow]

[Data driven product development]

[Conclusion]