Startup Funding Espresso – Product Data

Product Data

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Product data refers to the data about a particular product or generated by that product. 

This is separate from version control which tracks each version of the product and the features it contains.

Product data refers to the brand name, product description, schematics, source code, cost to build, price to sell, sales forecasts and results and more.

This typically involves storing the product data in a central location that all stakeholders can access such as developers, marketers, sales, and others.

Product data managers often use product data for A/B testing by capturing the results of each test.

Product managers use the data to review past sales and make future forecasts.

It can also be used to map our product roadmaps.

Product data can also refer to the data the product captures and creates.

Customer usage can be a critical data element for some products as it can be monetized by itself.

Other companies will buy your product data as the customers or their data may be a good fit for their product.

Some companies seek product data that can be used for testing algorithms.

As data becomes more valuable, more companies will seek to monetize their data.

Consider the data running through your product to see how it can be used.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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