Data-driven Decision-making (DDDM)

This chapter introduces the Data-driven Decision-making (DDDM) concept and its benefits for product managers. It highlights the distinction between qualitative and quantitative data, exploring how each can optimize product development and business outcomes. Through examples and case studies, the chapter discusses the ethical implications of data use, the potential for over-reliance on data, and the balance between data-driven and intuition-based decision-making. DDDM fosters informed, evidence-based choices, but the chapter also stresses the importance of integrating ethical considerations to avoid unintended negative consequences, as seen in real-world examples like the Apple Card incident.