Measuring Products — what are analytics and what should be measured
Product management: the role of analytics. Before its decided what you should be measuring and how, its useful to contemplate on what analytics are in the first place. Martin from Cleverism has done the hard work by looking at 1) analytics definitions, 2) key concepts of analytics, 3) main uses of analytics in product management, and 4) top analytics tools for product managers.
Data-driven product. At INDUSTRY ’16, Maggie Jan, a data scientist at Keen.io gave a detailed talk on using data to build products that matter. She covers everything from the start when you are conducting ‘Build, Measure, Learn’ processes to how data can be visualized effectively.
Critical metrics every product manager must track. Acknowledging first the common adage that data (knowledge) is power, Evgeny Lazarenko goes on to break down some of the key metrics that you should follow as a product manager. These he groups by user engagement, business, and customer service.
One metric is all your product team needs. OR … you could find the one metric that your team needs. To find this one metric depends on the stage you are at with your product and requires some digging to expose a data-point that is globally illuminating. Early stage products might look at daily active users, but later products may look at something more specific, like how many users completed X number of actions.