Consider a scenario where you are the head of a company's product development team. You're contemplating the launch of a new product in the market. Explain how you would utilize predictive modeling as a decision-making tool in this context. Specifically: 1. What data would you consider most crucial for your predictive model? 2. How would you validate the reliability of this model? 3. Once your model predicts potential outcomes (both optimistic and pessimistic), how would you weigh these predictions in your final decision-making process? Discuss the potential risks and benefits of relying heavily on predictive modeling in such high-stakes business decisions. Remember to consider the assumptions and limitations of your chosen model