I'm getting ready for the new semester and have come across some great content to share with students. In the past, much of analytics university teaching has focused on low-value website metrics and advertising. The curriculum I focus on has some of that, but the real value I hope to impart is more toward product metrics and other ways to link business value to what we do and set up a way for us to succeed so that students have both a foundation in principles and immediate applicability the businesses that are building.
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When I first became a Product Manager, I found the metrics confusing..... But I soon learned that understanding them Was key to making better decisions ~ Be an Effective PM >>> Understanding your product's metrics is crucial Let's break it down: ➕ 𝐆𝐫𝐨𝐰𝐭𝐡 𝐌𝐞𝐭𝐫𝐢𝐜𝐬 ↳ Cost Per Acquisition, Conversion Rate ↳ E.g., High CPA may mean broad targeting. ➕ 𝐄𝐧𝐠𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐌𝐞𝐭𝐫𝐢𝐜𝐬 ↳ Daily Active Users, Time Spent in App ↳ E.g., Low time spent suggests UX issues. ➕ 𝐑𝐞𝐭𝐞𝐧𝐭𝐢𝐨𝐧 𝐌𝐞𝐭𝐫𝐢𝐜𝐬 ↳ Churn Rate, Customer Lifetime Value ↳ E.g., Lower churn means better retention. ➕ 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐌𝐞𝐭𝐫𝐢𝐜𝐬 ↳ Average Revenue Per User, Gross Margin ↳ E.g., Rising ARPU indicates more purchases. ➕ 𝐑𝐞𝐟𝐞𝐫𝐫𝐚𝐥 𝐌𝐞𝐭𝐫𝐢𝐜𝐬 ↳ Net Promoter Score, Viral Coefficient ↳ E.g., High NPS shows strong customer advocacy. ♨️ Paweł Huryn 🇺🇦's newsletter unpacks ♨️ These essential product metrics ~ ♨️ See the carousel below for detailed version⤵️ ♨️ Repost ♻️ to help your network :)