In this conversation, Beks Yelland and Sabrina Mach explore the importance of being data-informed rather than solely data-driven in product leadership.

They discuss the evolution of product management, the balance between data and intuition, and the challenges faced in data-driven environments.

Beks shares insights on creating psychological safety within teams, the concept of 'fixing forward' after mistakes, and the differences in data strategies between B2B and B2C contexts.

The conversation emphasizes the need for collaboration, understanding customer emotions, and building relationships to create better products.

TAKEAWAYS

• Product leaders should make data informed decisions, not data driven decisions.
• Balancing data with intuition is crucial for innovation.
• B2B and B2C require different data strategies for decision making.

• Diverse data sources provide a fuller picture for data informed decision making

• Qualitative data about customer emotions are a data source too.
• Understanding customer emotions can drive product success.

• Creating psychological safety enables decision-informed decision making.
• A lack of psychological safety creates abdication of decision making to data.
• Fixing forward allows teams to learn from mistakes.

SOUND BITES

• "We need to trust our intuition."
• "Data can sometimes limit our boldness."
• "Data should inform, not dictate decisions."

CHAPTERS

00:00 Intro to Show

00:49 Intro to Guest

02:44 Challenges in Adopting a Data-Informed Approach

07:13 Why we Need to Look Beyond the Data - World Remit Story

12:18 Why we Need to Look Beyond the Data - Reuters Story

16:10 The Risk of Being Data Driven

18:41 The Importance of Diverse Data Sources

21:22 The Value of Diverse Insights and Analytics Capabilities

23:30 Psychological Safety in Product Leadership

26:31 The Concept of 'Fix Forward'

28:58 The Difference Between B2C and B2B Data Strategy

33:02 B2B Success Principle: Move from Sales Led to Product Led

38:20 B2B Success Principle: Test your Sales Narrative With Customers

41:49 B2C and B2C Success Principle: Collaboration and Relationships

44:33 How to move from Data-Driven to Data- Informed Decision Making

47:48 Pro-Tip for Data Informed Decision Making

49:11 Why Product Leaders Need to Make Data-Informed Decisions to Create Better Products

49:56 Inspiration and Resources for Product Leaders

53:17 Connect with Beks

53:41 A Question to our Listeners

KEYWORDS

data-driven, data-informed, product leadership, decision making, qualitative data, quantitative data, digital product metrics, psychological safety, B2B, B2C, collaboration, customer insights, product development