Intro

Info on metrics that any business or manager should track.

Sources:

• Chief Technology Officer Career Guide by Drew Falkman

Metrics Tracking

• All apps, web and mobile should have data tracking built in.  Track key and important elements.

• Tools: Google Analytics, Flurry (mobile app), Keen.io

Data Visualization Tools

• Looker

Key Performance Indicators (KPIs)

• KPIs are simply measures, not goals. Can be used to then set goals. They must provide that which you can then act on.

• Start planning on what KPIs to measure by studying the big business goals (eg, more subscribers, more revenue, etc), then dive in to finer details on usage.

• Suggest 5-10 KPIs for the business/organization (not the apps. You need more for apps/ specific segments).

Examples

• # of app downloads, subscriptions, online hours.

• How many screens or menus are being used.

Objectives and Key Results (OKRs)

“OKRs are meant to set strategy and goals over a specified amount of time for an organization and teams. At the end of a work period, your OKRs provide a reference to evaluate how well you did in executing your objectives.” The Fundamentals by Niket. He also provides a “Startup OKRs Template”

Customer Acquisition Costs

Average cost to obtain new customers.

Lifetime Value (LTV)

How much $, on average, a customer will spend while they are a customer.

Attrition or Churn

The rate at which people stop being customers.

Retention

How long customers stick around, whether paying or not.

Testing

To measure the success/failure of a feature, you should use A/B testing so you have a control unit to compare against.

Change a single element or single screen, then using a special script to randomize, so that every user can equally get either option A, or option B.  You can include additional options, C, D, etc.  Through A/B testing we can prove our site or mobile app one element at a time.

 Multivariate testing allows for the testing of multiple variables, simultaneously. You need a lot of traffic or app usage to be able to process all of these factorials, enough to get meaningful results.

Tools For A/B Testing

• Optimizely - experimentation platform

• Visual Website Optimizer

• Adobe Target

• Google Content Experiments