Sure but I mean does that result in different outcomes compared to identifying and focusing on the next most important few things which will move the needle at any given time, which tend to be quite obvious? GitLab for example built a billion dollar company by for the most part incrementally focusing on the next most important step, without deep data-driven backlog analysis or trying to capture all interactions and contexts related to potential product feature discussions. https://handbook.gitlab.com/handbook/values/#iteration
Probably depends on your stakeholders. In a small company with owners (having domain knowledge and experience) driving the roadmap there's probably no need to provide data for what should be the next important thing. In a large corporation however where a PM needs to convince higher level (MBA type) stakeholders about product prioritization, having data goes a long way to convince stakeholders.
