Decision tree templates for making confident product choices

A former product manager at a fintech startup faced the challenge of reducing a feature's profit and loss by half within three months, hindered by accumulated technical debt and unclear data. To tackle this, decision trees, specifically driver trees, were utilized to identify problem areas and gain stakeholder support, ultimately saving millions of Euros. Decision trees are highlighted as essential tools in product management, helping to simplify complex decisions, enhance communication, and facilitate flexible planning, while also being mindful of potential oversimplification and biases. Different types of decision trees, such as driver trees, opportunity solution trees, and KPI trees, serve specific purposes, like breaking down objectives, exploring growth avenues, and understanding KPI interrelations. Despite their advantages, decision trees require careful creation, regular updates, and a focus on user needs to remain effective, with the article encouraging product managers to employ them in decision-making processes.