How to define GREAT metrics
Goal
Actions
Metrics
Evaluate
1. Goal - What is the business goal of measuring success?
a. Clarifying Questions
b. Product & Business Contexts
c. Assumptions
i. Assumption #1 - True North
ㄱ. Create a metric that represents the True North
ㄴ.The Metric should capture:
* Long-Term Trends
* Quality User Experience
* Correlation with Revenue($)
ii. Assumption #2 - Audience
ㄱ. Executives - What's our long-term strategy to grow XXX
ㄴ. Investors - Is the business of XXX growing?
ㄷ. Teams - What features should be optimized to directly or indirectly increase the True North metric?
2. Actions - What are the user actions on the product?
3. Metrics - How do you measure user actions?
a. Action
b. Unit of Analysis
c. Statistical Function
4. Evaluate - What is the final recommendation?