Product Intelligence Report

Growth in a Pandemic Requires a New Set of Tools

Achieving digital success is a do-or-die challenge for businesses in today’s world. The vast majority of organizations know they need a better understanding of their users’ behavior to move fast and build products their customers want, but they’re stalled on the next step. Indeed, 94% of business leaders say that understanding user behavior is a priority, but 71% are unsure of how to do so.

These companies need a new set of tools to help them understand, attract, and retain customers. They need product intelligence.

Our research finds that businesses using product intelligence tools are 5.5 times more likely to see >25% revenue growth year over year than those who aren’t using it.

A Lack of Data Inhibits Teams

• Minimal access to the right tools Only 20% of product teams have access to product intelligence tools with behavioral insights.
• Rampant delays 69% of teams must wait a few days to a week to answer simple questions about user behavior.
• Compromised decisions 59% of businesses rely on instinct when they can’t access behavioral insights right away.

Product-Led Practices Get Results

Product-led companies have a product person in the C-suite, give product teams autonomy, and break down silos. All of these practices have a direct impact on businesses’ bottom line.

Companies with a CPO are 6.5x more likely to grow revenue >25% year over year and 3.5x more likely to ship new end-user functionality each week.

Autonomous product teams are 5x more likely to grow revenue >25% year over year and ship more releases by an order of 2.5x.