This document summarizes a presentation about product metrics and key performance indicators (KPIs). It discusses the basics of metrics and KPIs, the importance of avoiding "vanity metrics" without meaningful insights, and how to focus on actionable metrics at both the macro and micro level. The presentation recommends getting customer feedback to understand metrics and outlines resources for learning more about metrics and analytics tools.
Product Executive Roundtable hosted by Sandhya Hegde, Director of Product, Am...Amplitude
Amplitude is excited to announce a new 2018 invite-only event series, The Product Round-table. These Round-tables are a series of events tailored to the modern product executive. Each Round-table will feature a lightning talk from an industry leader followed by a discussion around what it means to be a product leader today and how a company’s digital product is its competitive advantage.
Learn how to use A/B testing to figure out the best product and marketing strategies for your business. Adopt a culture of testing everything from website copy to engagement emails to Facebook ads. Learn through a real SaaS product experiment.
How to win in the product led era - SF Product Analytics Summit 10/12/17Amplitude
Amplitude's VP of Product, Justin Bauer, discusses how companies need to adapt to succeed in the product-led era. Product is now your distribution center, your competitive advantage, and your main driver of customer loyalty.
Product Executive Roundtable hosted by Sandhya Hegde, Director of Product, Am...Amplitude
Amplitude is excited to announce a new 2018 invite-only event series, The Product Round-table. These Round-tables are a series of events tailored to the modern product executive. Each Round-table will feature a lightning talk from an industry leader followed by a discussion around what it means to be a product leader today and how a company’s digital product is its competitive advantage.
Learn how to use A/B testing to figure out the best product and marketing strategies for your business. Adopt a culture of testing everything from website copy to engagement emails to Facebook ads. Learn through a real SaaS product experiment.
How to win in the product led era - SF Product Analytics Summit 10/12/17Amplitude
Amplitude's VP of Product, Justin Bauer, discusses how companies need to adapt to succeed in the product-led era. Product is now your distribution center, your competitive advantage, and your main driver of customer loyalty.
Test & Learn: How to Find Your Product's North Star Metric Optimizely
Product-led companies are winning in this digital era by rallying their teams around a product North Star: the metric that connects the business outcomes they are trying to deliver to the work they do each day.
In this talk, you’ll learn a practical framework for how to determine your product’s North Star and how it can shift your strategy.
By attending this session, you will:
Learn how to define a North Star and why it is so important for product development teams
Learn how the best product teams use a narrow set of meaningful metrics to align product strategy with actual team initiatives
See examples of how North Stars change your product roadmap and drive your business forward
Walk through a specific example of setting and evolving a North Star
Feel ready to take learnings back to your teams
Realeyes is a technology company that uses computer vision to read faces and measure human emotion. Realeyes emotions platform provides a world leading solution for collecting and analysing facial response data of millions of consumers while consuming video content. The company’s goal is to help clients to get better results from their communications by providing accurate and actionable engagement metrics that traditional methods can’t deliver on scale. Clients include leading publishers, advertising agencies, research firms and numerous Fortune 500 brands.
Slides of a short training for product managers to learn the basic concepts and must-to-do practice in search engine optimization SEO.
This presentation was prepared by Motea Alwan as a guest speaker for a weekly event in Product School in Santa Monica.
Group Product Manager at Levi's Talks: Data for BeginnersProduct School
As a PM you will want to know about Data Analytics and how to work with a team of data scientists to build a product users will love and trust. During this event the Product Manager at Levi Strauss talked about the basics of data analytics and its use in start ups as well as large companies. He also discussed how to frame problems for both data and engineering stakeholders and Interpret feedback from data team to communicate confidently with business stakeholders.
What’s North Star Metric?
The North Star Metric is the single metric that captures the core value that the product delivers to customers. It’s a metric where any team can rally behind to create aliment along with value with customers.
Since handfull of the Product Managers out there are trying to figure out their NSM, I thought out I would be helpful to compile i
Peep Laja, CEO, ConversionXL - How to Turn Data into Insights & CustomersTraction Conf
Everyone's talking about being data-driven conversion optimization, but what does it actually mean? How do you actually do it? ConversionXL Founder Peep Laja delivers the ultimate framework and how-to guide. Visit: http://tractionconf.io
Opticon 2015-Personalization Using Optimizely Audience IntegrationsOptimizely
Featuring speakers from Microsoft Store, Citrix, Access Intelligence
Trevin Chow, Director of Product Management, Microsoft Store
Ravi Venkatesan, Conversion Analyst, Citrix
Stacy Hill, Analytics Manager, Access Intelligence
Moderated by: Clarissa Bukhan, Technology Partner Manager, Optimizely
This session will highlight how Optimizely's Audience integrations allow you to deliver personalized experiences to your visitors. We'll hear from a panel of Optimizely customers about how they've used Optimizely’s integrations with first and third-party data platforms, such as BlueKai, Demandbase, and Lytics, to create custom audiences for targeted testing and personalization.
IImpact Mapping How to Make Value-Driven Prioritization a RealityTim Guay
Get an overview of how to construct an Impact Map with your stakeholders in a structured brainstorming session.
Interpret the map to derive epics/user stories, metrics and testable hypotheses.
Want to streamline your legal practice and make life easier for your and your clients? Learn how MyCase legal practice management software helps improve our customers' practices.
HighRoad U Webinar: Measuring: Using Digital Metrics to Gain Member InsightHighRoad Solution
Learn how to measure the success of Using Digital Metrics to Gain Member Insight. We'll find out what metrics are important, how to collect & interpret them so that your organization thrives.
Metrics to Maturity, Intelligence for Innovation: Your Value PropositionCherwell Software
Managing the perception of value is a key strategic initiative that solidifies the business case for further investment in an organization’s service desk. However, metrics are the key to achieving this difficult and challenging proposition. Taking a segmented approach to metrics can bring speed and relevancy to reports and dashboards by empowering the user’s data literacy and the organization’s overall strategic goals. This session will explain how correctly managing metrics for maturity can go hand-in-hand with innovation and value. Status quo BI initiatives will no longer be good enough for IT to maintain its value proposition. The IT organization should manage the user’s perception of value with business intelligence and metrics.
Test & Learn: How to Find Your Product's North Star Metric Optimizely
Product-led companies are winning in this digital era by rallying their teams around a product North Star: the metric that connects the business outcomes they are trying to deliver to the work they do each day.
In this talk, you’ll learn a practical framework for how to determine your product’s North Star and how it can shift your strategy.
By attending this session, you will:
Learn how to define a North Star and why it is so important for product development teams
Learn how the best product teams use a narrow set of meaningful metrics to align product strategy with actual team initiatives
See examples of how North Stars change your product roadmap and drive your business forward
Walk through a specific example of setting and evolving a North Star
Feel ready to take learnings back to your teams
Realeyes is a technology company that uses computer vision to read faces and measure human emotion. Realeyes emotions platform provides a world leading solution for collecting and analysing facial response data of millions of consumers while consuming video content. The company’s goal is to help clients to get better results from their communications by providing accurate and actionable engagement metrics that traditional methods can’t deliver on scale. Clients include leading publishers, advertising agencies, research firms and numerous Fortune 500 brands.
Slides of a short training for product managers to learn the basic concepts and must-to-do practice in search engine optimization SEO.
This presentation was prepared by Motea Alwan as a guest speaker for a weekly event in Product School in Santa Monica.
Group Product Manager at Levi's Talks: Data for BeginnersProduct School
As a PM you will want to know about Data Analytics and how to work with a team of data scientists to build a product users will love and trust. During this event the Product Manager at Levi Strauss talked about the basics of data analytics and its use in start ups as well as large companies. He also discussed how to frame problems for both data and engineering stakeholders and Interpret feedback from data team to communicate confidently with business stakeholders.
What’s North Star Metric?
The North Star Metric is the single metric that captures the core value that the product delivers to customers. It’s a metric where any team can rally behind to create aliment along with value with customers.
Since handfull of the Product Managers out there are trying to figure out their NSM, I thought out I would be helpful to compile i
Peep Laja, CEO, ConversionXL - How to Turn Data into Insights & CustomersTraction Conf
Everyone's talking about being data-driven conversion optimization, but what does it actually mean? How do you actually do it? ConversionXL Founder Peep Laja delivers the ultimate framework and how-to guide. Visit: http://tractionconf.io
Opticon 2015-Personalization Using Optimizely Audience IntegrationsOptimizely
Featuring speakers from Microsoft Store, Citrix, Access Intelligence
Trevin Chow, Director of Product Management, Microsoft Store
Ravi Venkatesan, Conversion Analyst, Citrix
Stacy Hill, Analytics Manager, Access Intelligence
Moderated by: Clarissa Bukhan, Technology Partner Manager, Optimizely
This session will highlight how Optimizely's Audience integrations allow you to deliver personalized experiences to your visitors. We'll hear from a panel of Optimizely customers about how they've used Optimizely’s integrations with first and third-party data platforms, such as BlueKai, Demandbase, and Lytics, to create custom audiences for targeted testing and personalization.
IImpact Mapping How to Make Value-Driven Prioritization a RealityTim Guay
Get an overview of how to construct an Impact Map with your stakeholders in a structured brainstorming session.
Interpret the map to derive epics/user stories, metrics and testable hypotheses.
Want to streamline your legal practice and make life easier for your and your clients? Learn how MyCase legal practice management software helps improve our customers' practices.
HighRoad U Webinar: Measuring: Using Digital Metrics to Gain Member InsightHighRoad Solution
Learn how to measure the success of Using Digital Metrics to Gain Member Insight. We'll find out what metrics are important, how to collect & interpret them so that your organization thrives.
Metrics to Maturity, Intelligence for Innovation: Your Value PropositionCherwell Software
Managing the perception of value is a key strategic initiative that solidifies the business case for further investment in an organization’s service desk. However, metrics are the key to achieving this difficult and challenging proposition. Taking a segmented approach to metrics can bring speed and relevancy to reports and dashboards by empowering the user’s data literacy and the organization’s overall strategic goals. This session will explain how correctly managing metrics for maturity can go hand-in-hand with innovation and value. Status quo BI initiatives will no longer be good enough for IT to maintain its value proposition. The IT organization should manage the user’s perception of value with business intelligence and metrics.
Vortrag von Raj Venkatesan und Kim Whitler an der HWZ-Darden Konferenz vom 8. Juni 2017 an der HWZ Hochschule für Wirtschaft Zürich.
https://fh-hwz.ch/conference
What Is Product Value Realization by former EE Product ManagerProduct School
In the context of the product management holy trinity of desirability, feasibility and viability this discussion will zoom in on the latter aspect.
This session was about how as Product Managers and organizations we can ensure we realize value from the creation of products and services. As Product Managers we aim to deliver value to our customers, clients and stakeholders and spend a lot of time convincing them that we will be able to do this.
Quantify your impact: how to measure the ROI of your talent brand | Talent Co...LinkedIn Talent Solutions
Today’s talent leaders are more empowered than ever to quantify the connection between talent brand and talent acquisition success. However, with so much data at your fingertips, it’s easy to get overwhelmed. Join us to learn how to pinpoint the key metrics & data points that matter most when measuring your talent brand and use them to tell a cohesive ROI story. Check out the best of Talent Connect: http://bit.ly/1MBqz6m
What are top industry experts saying about privacy regulations, the future of digital analytics, and improving data quality?
What are other leading analytics teams doing to foster success?
What strategies can you implement to improve your analytics implementations?
Answers to these questions help analysts and organizations improve their data quality to create better user experiences, expand their brand influence, and increase revenue.
The best part, you can find answers in this ebook from leaders like James McCormick from Forrester, Adam Greco and Michele Kiss from Analytics Demystified, Krista Seiden from Quantcast, and many others. You will also gain insights from other analytics teams who have shared their personal tips and tricks to hack the analytics problems analysts face daily. You’ll discover how to:
Implement strategies to put the customer first to create better user experiences.
How to improve your data intelligence maturity to increase ROI.
Getting executive buy-in to increase the importance of data quality within your organization.
And so much more.
Intro to machine learning for web folks @ BlendWebMixLouis Dorard
Get a business understanding of ML by going through key concepts and concrete use cases that illustrate its possibilities for web-based companies.
In this presentation I introduce new technology that makes ML more accessible, and I explain in simple terms the limitations to what can be achieved. Finally, I discuss pragmatic considerations of real-world applications and I give a sneak peak at the Machine Learning Canvas — a framework for describing a predictive system that uses ML to provide value to its end user.
--
L'utilisation du Machine Learning s'est fortement développée ces dernières années, jusqu'à être présent aujourd'hui dans environ la moitié des applications que nous utilisons sur smartphone. Même s'ils n'ont pas connaissance du Machine Learning (ML), les utilisateurs d'applications mobile et web sont devenus demandeurs de fonctionnalités prédictives que le ML rend possibles. Par ailleurs, dans le cadre de l'entreprise, le ML représente un avantage compétitif important qui permet de valoriser ses data en les couplant à une intelligence machine.
Auparavant réservée aux grosses entreprises, cette technologie se démocratise grâce aux nouveaux outils de ML-as-a-Service et aux APIs de prediction. Afin d'en tirer profit, nous verrons ensemble les clés de compréhension du fonctionnement du machine learning, qui sous-tendent ses possibilités et ses limites. Nous verrons également comment amorcer son utilisation dans votre propre projet, au travers du Machine Learning Canvas qui permet de décrire un système où le ML est au cœur de la création de valeur.
The Tipping Point of Enterprise AI Product by Salesforce Sr Dir PMProduct School
Main takeaways:
- It is a tipping point for Enterprise AI products. We have reached phase one of Enterprise AI adoption and are now transitioning an S curve towards adoption phase two.
- Understanding AI nativeness and setup complexity can be critical as we look towards the wider adoption of AI products.
- There are four key hurdles to implementing and adopting enterprise AI products and the talk will address mitigation strategies around them.
How to Identify Relevant Product KPIs by Roomgo Head of ProductProduct School
Main takeaways:
- Identifying fit-for-purpose KPIs: what to measure and why, the common mistakes that Product Managers makeand when to start measuring KPIs in a project
- Avoiding analysis rabbit holes: going too granular & orphaned KPIs, testing in a bubble and application ins A/B testing + Root Cause analysis
-Telling engaging stories through product data: the power of product KPIs, building business buy-in through relevant KPIs and how less can be more when sharing with the wider business
Lean Marketing & Growth Hacking - How to Create Growth with Limited ResourcesAlgorand
Maximizing Marketing with Minimum Resources -
There’s a lot you can be doing with your marketing budget, so how can you determine what you should be doing?
Thriving in a changing digital world demands the ability – and willingness to adapt, as well as thoughtful resource allocation.
This presentation suggests some ways to plan and execute effective, predictable and scalable marketing initiatives with limited resources.
This Presentation Includes:
- “Lean” principles and how they can be applied to your growth efforts
- How to determine the right Key Performance Indicators (KPIs) that will lead to your success
- How to test and choose the best channels and messaging for your marketing campaigns
- How to run efficient, evolving marketing campaigns that save you time and money
- Maximize your business growth and the impact of your marketing budget
- Tested and proven “growth hacks” you can start using today
- Selected growth marketing tools
- Selected growth marketing reading
Vanity vs Actionable metrics: Data Led Program Episode 1Joseph Karim
This is the first episode of the Data-led Program; cohosted by InnerTrends and Market 8; to see the full program check out the episodes here:
https://www.market8.net/data-led-growth-program/episodes
You will learn:
What are Vanity Metrics?
What are Actionable Metrics?
Define Your Product’s Actionable Metrics
Align Your Team Around These Metrics
Track Your Progress
Identify Opportunities
If you'd like to have your SaaS company reviewed sign up for your chance to win a 2-hour workshop:
https://www.market8.net/data-led-growth-program/apply-free-workshop-decision-lp
In our session we’ll dive into:
Your product, how it works, and how it makes your users successful
Which metrics you’re tracking, how you’re currently tracking them and what you should be tracking
Defining your product’s actionable metrics
Aligning your entire team around the metrics that matter, and assigning responsibilities
Dive into your funnel, and diagnose your biggest growth problem
March Analytics Madness shows how robots, big data, business intelligence, predictive modeling, algorithms, statistics, crowd sourcing, innovation and luck play out over the course of a month where everyone in every office is a data scientist and prognosticator - Use the teaching moment
Changing customer behaviors have dramatically changed the way brands need to measure success. Starting with an analytics frameworks is essential for measuring business ROI.
4. Wes Kay
Agile Coach | ScrumMaster
(Macmillan New Ventures, Dell, Humanity,
ShiftPlanning, and TeacherGraph)
Dan Corbin
API Product Manager, Context.IO
(a Return Path company)
Data driven decisions are critical if you want a successful product or business.
Being “data driven” is easier said than done. You need to ask the right questions and determine which data to use and which you can ignore.
This is difficult because relying on activity and lagging metrics is like driving while looking in the rearview mirror.
You’ll need to learn which metrics are the true indicators of your product’s potential and future.
Demystifying “gut” feelings.
Creating a shared base of understanding/knowledge.
A KPI is a measurable value that demonstrates how effectively we achieve critical business objectives. Companies and organizations often use KPIs to evaluate their success at reaching targets.
Your KPIs will be different from other companies and even from people within your companies.
The key is standing these metrics against your business’ objectives.
Vanity metrics are the opposite of actionable metrics.
They may document the current state of the product but offer little to no insight into how we got here or what to do next.
Basically, these are numbers or stats that look good on paper, but don’t really mean anything important.
Examples of vanity metrics include web hits, visitors, number of downloads, subscribers, Gross Site Visits, Page Views, Gross Revenue.
They aren’t completely meaningless, but they aren’t what you should be spending the majority of your time or energy on.
Vanity metrics can’t tell us anything about the levers that affect scale or innovation.
The levers behind them are too obfuscated to inform accurate decision making on reasonable scale.
Data that doesn’t inform our decision making?
An actionable metric is one that ties specific and repeatable actions to observed results.
These results line up with the business goals you have defined.
If a metric isn’t actionable and you can’t do anything to make it better then why are you tracking it?
What are examples of Actionable Metrics?
Early on Facebook had 150K users. Considering there was bigger competitors out there (MySpace, Friendster, etc), this number doesn’t tell you much.
A better metric was the % of users that visited multiple times a day (75%).
Another was the % of students using Facebook one month after it launched on a new campus (90%!)
Experiment early and often.
Scientific approach. Measure against your hypothesis.
Using metrics to simply and objectify decision making.
A/B testing is one way to pinpoint the best changes to make. For example, The open rate of two email subject lines in an A/B test will immediately tell you which subject line to pick.
Most prevalent example of Macro Metrics in Lean Startup:
Pirate Metrics: AARRR
(Acquisition, Activation, Revenue, Retention, Referral)
Dave McClure is an entrepreneur and prominent angel investor based in the San Francisco Bay Area, who founded and runs the business incubator 500 Startups.
It's not enough to analyze your data and produce awesome graphs based on your subscribers' behavior. We do that, sure, but our main goal is making specific recommendations that will increase your revenue. Pirate Metrics figures out what your paying customers have in common, and suggests actions you can take to attract similar new users.
Measuring against like customer segments.
Cohort analysis is a subset of behavioral analytics that takes the data from a given eCommerce platform, web application, or online game and rather than looking at all users as one unit, it breaks them into related groups for analysis. These related groups, or cohorts, usually share common characteristics or experiences within a defined timespan. Cohort analysis allows a company to “see patterns clearly across the lifecycle of a customer (or user), rather than slicing across all customers blindly without accounting for the natural cycle that a customer undergoes.”
Cohort analysis is a subset of behavioral analytics that takes the data from a given eCommerce platform, web application, or online game and rather than looking at all users as one unit, it breaks them into related groups for analysis. These related groups, or cohorts, usually share common characteristics or experiences within a defined time span. Cohort analysis allows a company to “see patterns clearly across the lifecycle of a customer (or user), rather than slicing across all customers blindly without accounting for the natural cycle that a customer undergoes.”
Alistair Croll; Benjamin Yoskovitz. Lean Analytics: Use Data to Build a Better Startup Faster. Sebastopol, CA: O'Reilly. ISBN 1449335675.
Optimizing user behavior, user flows, and parts of complete actions.
Don’t lose sight of your overall goals and the macro metrics that hopefully reflect your business’ goals.
Don’t lose sight of the forest for the trees.
Don’t focus so hard on the peak in front of you that you lose sight of the peaks that may surround and be available to you.
In computer science, hill climbing is a mathematical optimization technique which belongs to the family of local search. It is an iterative algorithm that starts with an arbitrary solution to a problem, then attempts to find a better solution by incrementally changing a single element of the solution.
A local optimum of an optimization problem is a solution that is optimal (either maximal or minimal) within a neighboring set of candidate solutions. This is in contrast to a global optimum, which is the optimal solution among all possible solutions, not just those in a particular neighborhood of values.
Mitigation concepts: split testing (A/B), qualitative analysis
Vary your experiments widely enough to prevent this path.
Clarity
Once you establish metrics, be sure that everyone in the organization understands:
what they are
how they are to be used
how they will be calculated
where the data comes from
exactly why it is important
It’s important to add the KPIs to information radiators (highly visible displays used to track progress).
Metrics change as a business grows
When beginning you may look at web traffic, followers, subscribers, reviews, social media shares, etc.
As you grow you’ll want to track thing such as sales, revenue, conversion rate, customer satisfaction, etc.
A more mature company will track: profit, retention length, churn rate, revenue per customer, lifetime value, etc.
Ultimately it’s up to you: You need to first determine the goals of your business. This is critical. Only then can you figure out which metrics you should be tracking.
Actionable metrics use the scientific method to pinpoint exactly what change will lead to the outcome you’re trying to create.
When creating your metrics, make sure they satisfy the three A’s: Actionable, Audited, and Accessible.
Building a product without metrics can feel like finding your way through a dark room, no matter how well acquainted you are with your domain.
Google Analytics - Helps you understand user behavior
Optimizely - This lets you quickly make changes to your site and then automatically tests which version—the old version or your new version—is better at accomplishing your goals.
KISSmetrics - takes general Google Analytics data, which is great, and adds granularity around the people who are using your site. Being able to access that level of detail enables you to test content and design much more effectively.
Funnel Metrics
A/B tests
Revenue Reports by channel
Cohort analysis
CrazyEgg - Creates an awesome heat map or confetti map so you can visually see what’s happening on your site (tracks mouse, clicks).
Geckoboard - Helps you gather your key metrics in one place. Use Geckoboard to communicate your data instantly across your organization.
Moz - Helps you understand relationships between content, search marketing, social activity, brand mentions and inbound links. Moz provides analytics as well as actionable next steps.
