It involves planning and development of products in such an accurate way, which brings satisfaction to customers. The word Product Management, includes the whole responsibility from starting (product manufacturing) to ending (delivery to customers). In short, product management is responsible to meet the objectives of the product and organization.
Earlier, product managers are responsible for this task. But it is a big hassle for them to fulfill it manually without doing any mistake. That is why new technology has launched which completes all product related tasks with accuracy and without taking too much time.