Analytics are a crucial part of modern product development, with data often driving and informing key decisions by PMs. However, implementing analytics can be tricky.
Break down data into concepts to better extract insights
- The most basic data analytic is the number of times users carried out an action on your website. This can be helpful if you have a specific question you want answered.
- Segmentation and cohorts break down users into different groups, allowing PMs to understand how different types of users are interacting with their product.
- Funnels show how users navigate through a product and which pages/features are creating choke points
PMs must know what to measure
- Defining KPIs is crucial as they guide which analytics are tracked.
- Funnels are maps of user engagement. Identify user flows to find insights into your product.