What is product management analytics?
https://mixpanel.com/blog/what-is-product-management-analytics/
Goals, KPIs and metrics Though often used interchangeably, goals, key performance indicators (KPIs), and metrics are not the same. Rather, they sit in a hierarchy, with goals on top. Goals are a company’s highest level priority, such as driving revenue; KPIs measure progress toward goals; and metrics measure progress toward KPIs. Once teams select their goals and KPIs, they can determine the metrics that support them.
Common metrics for product management analytics Hopefully, it’s clear by now the importance of selecting only those metrics that help you determine your product’s success. Tracking too many metrics often proves unmanageable—like a car dashboard with too many gauges. Every metric that’s chosen should be clearly defined, simple to collect, and roll up into KPIs and goals.
We’ve outlined some of the most common product management metrics below:
Engagement metrics:
- Average daily active users (ADAU)
- Time spent on site or app
- Pages viewed
- Session per user
- Shopping cart or checkout abandonment
Retention metrics:
- Retention or churn rate
- Stickiness
- N-day retention
Activation metrics:
- Percentage of activated users
- Number of activations
- Number of activation funnel steps completed by an average user
Reach/Acquisition metrics:
- Paid subscribers
- 3-month active users
- Page or ad impressions
Transaction/Monetization metrics:
- Monthly recurring revenue (MRR)
- Average revenue per daily active user (ARPDAU)
- Customer lifetime value (CLV)
- Ad click-through rate (CTR)
- Cost per acquisition (CPA)