Recognize data and methods useful for data-driven decisions

Description

Test your knowledge of data-driven decision-making and how to leverage data to drive better product management practices.

Question 1
Why is it true that all measurements are approximations?
- Because different people have different approaches to measurement
- Because there are no standards for measuring
- Because we can only be as accurate as the precision of the tool we are using
Question 2
Which of the following is a data-driven approach that will enable us to decide that a feature is finished?
- Build the feature and measure its performance to see if it looks good
- Decide the measurable contribution of the feature, then build it, then measure performance
- Survey a list of users about the feature to see if they are mostly happy
Question 3
Which of the following are key steps in data-driven product management?
Careful, there are several correct answers.
- Decompose - Break down the organization's strategy into measurable outcomes.
- Divide - For each product team in the organization, decide the targets of their respective product in terms of contribution to these measurable outcomes. If you add up the results of all the product teams in the organization, the result should be what the organization as a whole needs to achieve.
- Dump - Store all data in safe place.
- Distribute - Make sure everyone in the organization has access to relevant reports.