How to improve your products using data-driven design
Adopting data-driven design is vital to your organization if you are planning on consistently improving your products. The data from your customers can tell you what they like about your products and services and what they don’t like. Consequently, when you collect data, you gather the information that helps to upgrade the products and services you offer. But first, let’s review the basics behind the data-driven design so that you can use this strategy effectively.
Two basic types of data to consider when planning to improve your products.
There are two types of data and analysis: quantitative and qualitative. Quantitative data analysis refers to data that provides you with a base number of sufficient cases to yield a statistically reliable finding, representative of the sample population it was drawn from. Qualitative data analysis relates to more probative data, which is generally unstructured and tells you how customers understand, relate, or conceptualize a product or service.
When you start examining your data, you need to distinguish between information that gives you percentages and statistics and information about qualitative measures. You must then match the one against the other because both types of data are equally important in context.
Types of data-driven customer interactions
All data is useful because it represents customer interaction with your business. Such interaction can give you the information you need to survive and expand. Here are some of the methods or sources where people can interact with your organization and help you become more data-driven:
- Customer Service and Retention Programs
- Product Registration Forms
- Customer Satisfaction Surveys
- Usability Testing
- Online Market Research Studies
- Social Media Listening
- B2B Research
- Online Focus Groups
- User Group Meetings
- Forums or Communities
- Telephone Interviews
How to approach analysis and reflection
When you analyze data, keep an open mind. Moreover, reflect on what your data is telling you. Consider the quantitative and qualitative aspects and resist jumping to conclusions. It would be best if you also were wary of confirmation bias. In other words, don’t analyze your data to confirm what you already do or know.
To improve your products, leverage insights to create data-driven innovation
The need to innovate is an integral part of all enterprises. By adopting open data-driven thinking about what your customers are telling you through this information, you can uncover fresh ideas. Early-stage product development can leverage exposing customers and prospects you prototypes of product and service models using a research methodology like concept testing.
Why it’s important to collect feedback and build loyalty continuously improving your products
Data represents customers’ feedback. When you pursue a data-driven design strategy, you acknowledge the importance of such feedback and thereby show your customers that you listen. Your customers then respond by being loyal to your business. In this way, you create a business culture that focuses on customer loyalty and improvements to the design of your products and services using techniques like a discrete choice model.
Data by itself can be overwhelming and disorganized. By adopting a data-driven strategy, you can make data work for you. Your data can even identify and help you develop new opportunities for your growing enterprise or entrepreneurial activities. Be sure to reach out to a market research company that can help you develop the right strategy and approach to ensure you reach your goal.
Jim Whaley is CEO of OvationMR and frequently posts on The Standard Ovation and other Industry Blogs.
OvationMR is a global provider of first-party data for those seeking solutions that require data for informed business strategy.
OvationMR is a leader in delivering insights and reliable data across various industry sectors worldwide, consistently for market research professionals and management consultants.