The scientist has a huge number of KPIs, dashboards, all the numbers and blinking lights everywhere.
There is so many data, so much information, however, there is one problem: The scientist does not make any relation between this information, no intelligence is extracted out of it to take decisions. To a certain extent, it’s a huge waste of bits and bytes.
There are a few reasons why a Product Manager may not want to focus too heavily on Key Performance Indicators (KPIs) when managing a product:
- Over-reliance on KPIs can lead to a focus on short-term goals rather than long-term vision: If a Product Manager is solely focused on hitting specific KPI targets, they may neglect the broader goals and vision for the product.
- KPIs can be misleading: Some KPIs may not accurately reflect the success of a product or feature and can lead the Product Manager to make decisions based on inaccurate data.
- KPIs are not always actionable: Some KPIs may not provide clear guidance on what action should be taken, making it difficult for a Product Manager to make decisions based on them.
It's important for a Product Manager to be aware of all of these limitations and not to rely only on KPIs, but rather use them as a tool in combination with other methods, experimentation from data, feedback and others, so they can have an effective evaluation of the performance and desirability of the products created.