Published: 06 July 2023
A large majority of new technology products fail within two years of launching. Product leaders must invest in collecting, challenging and validating market insights prior to deciding on product development initiatives in order to increase the chances of commercial success.
According to the 2022 Gartner Product Management Branded Survey,understanding customer needs is one the most critical challenges to solve for the overall performance of the product management team — in the top 3 ranking of all those surveyed. Yet only 43% of the product management leaders reported using a customer-driven approach to making product-related decisions.
Companies are already sitting on a treasure trove of data that can help to reveal customer needs and market insights, but leveraging this data for product decisions is often not methodical or cross-functional.
Development of the product roadmap is often driven by requests from large
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Analysts:
Alan Antin, Chris Meering, Svetlana Golden, Mark Stanyer, Chris Chandler, Chris Pang
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