Product managers play a crucial role in decision-making throughout the product development process. Here are five tactics that can help improve decision-making skills for product managers: 1) Align product goals with company mission, 2) Empathize with users and team members, 3) Proactively communicate with customers, 4) Work in a diverse team, and 5) Build Minimum Viable Products (MVPs). These strategies can lead to better business decisions, increased innovation, and more successful product outcomes.