Paper Type
Complete
Paper Number
1669
Description
In today's dynamic business world, product management must deal with changing customer needs and volatile markets, often relying more on intuition than data. However, unexploited data resources have the potential to support product management decision-making. The systematic integration of data analytics into product management processes offers the opportunity to uncover hidden knowledge and potential for improvement, called data-driven product management. However, industrial companies face the challenge of defining potential application areas and initiating the integration of data analytics. Therefore, an exploratory interview study with 21 product management experts and a series of workshops with five companies were conducted. The result of this work is a basic description of the potential application areas, challenges, and expected effects that the participating experts associated with integrating data analytics into product management. By providing this overview, the study structures the topic of data-driven product management from the perspective of potential users.
Recommended Citation
Fichtler, Timm; Grigoryan, Khoren; Kirchberg, Lisa; Koldewey, Christian; and Dumitrescu, Roman, "Application Areas and Challenges of Data-Driven Product Management" (2024). PACIS 2024 Proceedings. 5.
https://aisel.aisnet.org/pacis2024/track09_digittrans/track09_digittrans/5
Application Areas and Challenges of Data-Driven Product Management
In today's dynamic business world, product management must deal with changing customer needs and volatile markets, often relying more on intuition than data. However, unexploited data resources have the potential to support product management decision-making. The systematic integration of data analytics into product management processes offers the opportunity to uncover hidden knowledge and potential for improvement, called data-driven product management. However, industrial companies face the challenge of defining potential application areas and initiating the integration of data analytics. Therefore, an exploratory interview study with 21 product management experts and a series of workshops with five companies were conducted. The result of this work is a basic description of the potential application areas, challenges, and expected effects that the participating experts associated with integrating data analytics into product management. By providing this overview, the study structures the topic of data-driven product management from the perspective of potential users.
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