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Showing posts with the label product metrics

Role of product manager in product analytics

Data needs to be your best buddy if you're a product manager. You must focus on the data. This is a gold mine since data and product management cannot be separated. One of the gears that propels product management is data. I thought I said, "product analytics." So why am I saying "Data" now? Let's first explore what product analytics are. Product analytics Simply put, analytics is the study of data. Although data analytics may not be product analytics, product analytics is data analytics. Why do product managers need to use data analytics? You are concerned with anything that has an impact on a product's success as a product manager. How do you keep track of everything that determines how relevant your offering is, then? Data! Your ability to make wise decisions is aided by data. This information is being used in product analytics to comprehend user requirements better. Building valuable products requires an understanding of the customer and their demand...

Why and what is North Star Metric for products

Yes, the product manager (PM) serves as a bridge between the tech/developer teams, the business teams, and the designers. Then, as someone who bridges those fields, you should at the very least understand each team's challenges and objectives. When communicating with other teams and stakeholders, you are the team's representative. The North Star Metric, however, is similar in this regard. In addition, North Star Metric serves as the intermediary (again, I don't want to sound patriarchal). It need to be able to represent both the client or customer and the organisation. The amount of profit the business will realise from the products should be quantified using the North Star Metric. How much the users profit from our creation should be quantified by the North Star Metric. It must also be quantifiable, therefore it typically includes timely measurements (daily, monthly, or annual) Therefore, before establishing the company's North Star, we should be aware of the issues th...