Mon, 21 November 2022
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
Product data is the information about the product used for product management purposes.
Here are some key data points to capture and maintain:
Customer tests for new product features.
Capture A/B test data into a central repository as the answers may be useful for building future features.
Key metrics such as customer engagement and satisfaction rates.
Keep a running list of KPIs about your product for product decisions and business strategy.
Feature usage measures how customers use the product.
Track which features customers use most often and least often.
Customer sign-ups track who joins to use the product.
Keep track of client signups to understand what they expect to gain from the product.
The churn rate tracks those who stop using the product.
Keep track of client departures to understand why they left to build an ideal customer profile.
Cost to build the product.
By tracking the cost to build you can make future product development decisions easier to forecast and budget.
Capture all product data into a central location for future product planning and strategy sessions.
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