Show me the data! The importance of having good metrics
Corinna Stukan
On February 17, 2022, Corinna Stukan shared why we should care about tracking meaningful product metrics, some metrics fundamentals, and the common pitfalls to avoid as you look to improve your practices and data collection.
Key takeaways
Good metrics allow us to link product features to business impact.
Having better metrics and good data insights plays a fundamental role in measuring how we’re impacting the business goals and help us create a deeper understanding of our customers, allowing us to make better product decisions and stay more competitive.
Track good metrics, not vanity metrics! Vanity metrics look good, but they do not give you an accurate picture of what’s happening within your business.
Don’t track too much. Tracking too many metrics creates less focus and opens up the opportunity for more errors and less trust in your data, and can quickly become expensive. “Start small, test properly, then expand.”
When deciding what metrics to track, work back from your business goals.
Metrics to track could be:
Acquisition and activation (sign-ups, activation conversion)
Engagement and retention (DAU/MAU, Retention/ churn)
Business Specific (platform performance or other value creation)
