Variance is a statistical measure representing the degree or dispersion of a set of data points, indicating how much each data point deviates from its average.
While variance gives insights into data volatility, standard deviation offers a more interpretable measurement of dispersion, allowing for easier understanding of data variability.
To accurately measure feature potential, it’s crucial to assess customer feedback variance, which reveals satisfaction levels, helping managers identify strong and weak product features.
By calculating variance and standard deviation for customer satisfaction data, product managers can pinpoint which features consistently delight users and which ones require improvement.
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