Data Product

Software Service vs Software Product

In software services model, each use case is custom built. It require dedicated developer who develop and release software for a use case. On the other hand product business, companies develop products once and sell to multiple customers. This is preferable business model.

Software product companies identify need and create a product that can serve as many customer as possible. They build a MVP product that satisfy need for many customers and then continue to refine to increase vale for existing customer and increase customer user base. As they release more and ore refine product or new product their existing processes get used and matured.

Data Product

Data traditionally is generated and used as part of use cases. As per use case and business process data is generated (sales pipeline, manufacturing). Reporting system build report. Recently machine learning system pull these data for advance analytics.

Data Product means - companies treat their data like a product. While defining, designing and building new dataset they need to consider

Who all can consume this? Instead of building data for one type of team/user -- they need to consider all teams that can benefit