Choosing the right product analytics manager can be challenging for an organization because they all have their own respective skill sets that may or may not fit a company’s needs.
A unique role within companies for product analytics is still fairly unique, so there aren’t as many specialists for this discipline as there are for more established roles.
Product managers wear many hats in their day-to-day work. Still, the Product Analytics Manager is uniquely qualified to handle product research, customer data analysis, and measuring customer product use.
1) Data-driven decision-making
The most important skill that any product analytics manager should have is taking the data collected and putting it to use with actionable insights.
The data collected by product analytics managers is often imperative for decisions made within the organization, particularly when making changes to products or new offerings.
Knowing how to make sense of complex data and where those opportunities exist can be the difference between a company that thrives and one that doesn’t.
2) Analytical skills
Product Analytics Managers need analytical skills such as understanding how data can be used for competitive advantage and collaboration between marketing, sales, and customer service teams in order to maximize profits.
Make sure that they’re comfortable with the data skills and programs that your company uses. This often includes SQL, Python, and R. Comfort with web analytics tools like Woopra, Adobe Analytics, Google Analytics, and Tableau is often a requirement too.
3) Organizational skills
Product analytics managers need to work with teams both internally and externally to help create actionable hypotheses and generate new ideas.
The product analytics manager must have organizational skills to organize their findings, report them back to management, and troubleshoot with the engineering team when things don’t go according to plan.
The product analytics role lives in between product management, data science, and product marketing. As such, this person must be able to work with all of these teammates.
4) Marketing strategy
Product analytics managers need to understand marketing strategy and be able to integrate the findings from product analytics with that of the company’s overall marketing plan.
The data collected provides essential information for management on the effectiveness of specific marketing channels, and what types of products and pricing will generate the most profitable growth.
5) Big data
Product analytics managers need to understand how to use big data to improve the company’s ability to reach its customers and drive growth. They should collect the necessary statistics to drive decisions that can increase revenue while decreasing costs.
6) Presentation skills
Being able to present insights and findings in a clear and understandable manner is critical for product analytics managers.
They will need presentation skills for the internal teams as well as for clients such as analysts, investors, or even executives who will be relying on their reports in order to make decisions.
7) Promoter Analytics
Product analytics managers can have a profound impact on the culture within an organization. This is because they can provide metrics that can inform management of what is working and what isn’t, the latter being vital information for a company trying to grow.
Promoter analytics involves taking data collected from customer surveys and social media outlets and measuring how much customers would recommend products or services to others.
Product analytics managers need to be able to understand this information and then translate it into clear recommendations for senior members of management.
8) Business Analysis
Product analytics managers must be able to understand data and its current use within the organization, as well as interpret the data collected from external sources.
This is key in order to ensure that the data collected is being used in an efficient manner and that there are no blind spots.
Product analytics managers must be able to make sure this information is being shared with relevant members of the organization so it can be put to use in a timely manner.
9) Marketing Research
Product analytics managers must be able to perform marketing research and interpret the findings for their teams, customers, investors, and even executives who will ultimately rely on them for decision making.
Marketing research involves collecting data from different sources, interpreting the findings, and then providing recommendations that can help an organization grow.
All of this can be done in a timely manner if the product analytics manager has marketing research skills.
10) Analyzing Customer Behaviors
Product analytics managers must be able to understand customer behaviors and what they are doing with the products that they are purchasing.
This can be done through internal customers that are purchasing things such as insurance, food, or utilities. Being able to provide this information for clients will be crucial in ensuring solid relationships with the company’s customers.
Want to brush up on your product analytics knowledge? Check out our review of the best product analytics books.
Product analytics managers must have a good understanding of metrics and be able to translate that information into relevant recommendations for management.
They will also need to know how to use the data collected in order to predict future events, as well as generate strategies for growth.
Customer metrics are at the core of business analytics and, therefore, must be fully understood by product analytics managers in order for them to do their job effectively.
12) Writing code
In addition to understanding code, product analytics managers need to be able to write it on occasion.
This is particularly true when it comes to cleaning up data from external sources in order for it to be useful in later stages of analysis.
Being able to do this will ensure that the data being collected is clean, readable, and doesn’t have missing values that would make it difficult for anyone else within the organization to put the data into action.
13) Executive Critical Thinking
Product analytics managers must be able to think critically and make decisions about the data or analytics in order to make sure that the information obtained is accurate and helpful for future growth.
All of this will require product analytics managers to develop a good working relationship with executives in order to ensure they are fully aware of what needs to be done when it needs doing and what impacts might result from a decision made.
In conclusion, product analytics managers must have a wide variety of skills in order to be able to do their jobs effectively. They need to be able to use data to drive key business decisions and then translate that into actionable recommendations for management.
The data collected by the product analytics manager will determine the success or failure of products and services offered by the company. Therefore, it is imperative that they are skilled enough in order to maximize the ROI generated from those offerings.