Measurement
Measuring and analyzing the performance of the product provides insights into your overall performance as a product manager. During different phases of the product life cycle different measurements will have to be made.
Early in the life of the product you may focus on new customer acquisition and growth, whereas later in a product’s life you’ll focus on customer retention and profitability. In both cases, capturing, organizing, and communicating the data associated with the product will help the team make decisions about the next steps.
Unfortunately, you never have perfect data regarding product performance. Comparing data from other products, product lines, or previous reporting periods is a good way to garner lessons from your imperfect information.