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Throughout my career, data has felt like a mysterious puzzle that I have managed to navigate somehow through various application interfaces. But when I started my journey as a Product Manager, collaborating with diverse stakeholders during product development, a fascinating shift happened. The data, once an enigma, started to reveal itself like a trusted companion. At times, data gave me so many insights into my user’s world but other times I was so concerned with what data couldn’t tell me and I became more determined to explore more.
Like any Product Manager, I yearn to build something meaningful, a bridge across a gap in the identified customer journey. The constant questions are: What am I creating? Does it truly offer value? Who will benefit from it? And how many lives will it touch? In this quest, data became my ally, providing insights and clarity.
So, my question now is: How can I leverage data to craft personalized user experiences and build products that truly resonate with people?"
This blog will uncover how a product manager uses data to build something meaningful with the help of analyzing the data and what are the challenges of building a healthcare product.
Product Inception Stage
During the early stages of the Product inception, Market Data Analysis gives the Product team a good lead into who the customers are and what they are currently using.
Market Data research analyzes the market trends, competitor data, and customer sentiment help identify opportunities and prioritize features.
Predicting future demand based on historical data and market trends optimizes production, inventory, and resource allocation and becomes feasible through Demand forecasting.
Product Development Stage
During Product development, Data replaces guesswork with quantifiable insights, leading to more confident and effective choices through evidence-based decision-making. This Increases ROI by keeping track of product performance, measuring the product impact, and justifying investments. Data also Improves collaboration by providing a common platform for product teams, stakeholders, and executives.
Post Deployment
The Data gives great insight into understanding User Behavior by tracking user interactions such as Click-through rates, conversion rates, session durations, feature usage, etc., revealing preferences, pain points, and engagement patterns.
Data provides great insight through user feedback: Reviews, surveys, and support tickets help identify common issues, feature requests, and areas for improvement.
Through Data insight helps a product manager tailor products to individual needs and preferences, leading to higher engagement and satisfaction.
Healthcare Product Data: Demystifying the Silos
The current challenge in product portfolio enhancements throws a major challenge for the product teams as the customer data is scattered across various data stores like warehouses, lakes, and silos. This is especially true in my role as a product manager, where I strive to offer features that create an integrated view of healthcare services.
For example: pharmacy data. Information on different prescription types (mail order, retail, specialty) resides in separate systems. Similarly, pharmacy and medical benefits are divided across distinct entities. Furthermore, clinical data (EHRs & EMRs), claim data, and billing/payment data all exist in isolation.
While each data point contributes to the patient journey, the varied formats, structures, and locations make it nearly impossible to get a holistic view of their health, history, and service costs. In my future blogs I will dive deep into this problem and how various data analysis methodologies, tools, and integration techniques can bridge these gaps.