Ben Yoskovitz is known for his company Standout Jobs. In the article “Yoskovitz: Be a Data Hog, Make More Money!” he makes a good and simple case for collating lots of data, analysing it regularly and repeatedly asking Why? The approach reminded me a lot of my colleague Doug Brown, the executive in charge of operations in our Search Engine Marketing reseller division. Doug is constantly driving his team to build up data, analyse and test it, and then make interesting and useful predictions and conclusions.
There is a link here with highly iterative development. It comes down to generating and understanding feedback from a working system as quickly as possible and then being able to adjust your course as quickly as possible with the new information. Making the feedback small, incremental and falsifiable (as in test-driven development) is important. Each of these contributes to being able to translate the tests into next actionable steps.