In God we trust; All others must bring Data: Lean Analytics 101
You can't manage what you can't measure. - W. Edwards Deming
Most startups or organizations live by the above quote and start measuring loads of metrics and digging through pile of data to get meaningful insights. So much so that you waste the most precious resource i.e. "time" in implementing tons of tracking and data analysis and all it gives is a false feeling that things are in control and you know what you are building. More than tracking metrics or measuring output, the more important part is "What to measure" and "When to measure".
While Lean Startup concepts help you structure your progress & identify the riskiest parts of your business and then learn/ adapt to it, Lean Analytics is used to measure that progress, helping you to ask the most important questions and get clear answers quickly.
In this presentation, we would look at a few ways to figure out what "must" be measured and "how", depending upon your business model and stage of growth.
Outline/Structure of the Tutorial
Intro to Analytics
- Understanding of various aspects of a "good" metric
- What/how to track based on the business model and stage of growth and
- Various analytics frameworks like Dave Mclure's pirate metrics, Eric Ries's engines of growth etc.
Anyone interested in using Analytics in their Product Development