The Basics of Product Analytics
The World Runs On Data
Product analytics - the world's first powered by data. When it comes to product and specific features within a product, it can be very difficult to tie business metrics to feature success. And so we use leading metrics like product usage, sustainability, feature adoption, quality, productivity. to try and tie what we're doing on the product side to overall business metrics. And it will help your company as a whole achieve business goals.
What is product analytics?
Product managers rely on product analytics to track digital interactions within their apps, websites, and devices.
That data informs decisions about how to improve the product experience and drive business outcomes.
Usage data tends pairs nicely with user surveys and product testing.
How are users engaging with my product over time?
Graph engagement with certain features or pages and compare against other parts of the product over time, or compare engagement with a single part of the product over two different time periods.
How are users moving through a specific sequence of steps?
Funnels are analytics tools that allow you to measure how customers move through a defined series of steps. They can provide a high level of clarity as to where your customers "drop-off" when following these steps.
What steps are users taking throughout the product?
A path is the sequence of actions that users took before or after a target event shown as steps on the path. Each step shows the other pages, features, or track events users in the segment used before or after one you selected.
Retention and Stickiness
How frequently are users using my product over time?
How to practically use product analytics?
This approach is quite common when designing and building products.
- Design Your Experiment
- Construct your hypothesis and how you`ll measure success or failure
- Conduct the experiment
- Analyze results
Different types of Experiments
1. Prototype / Concept Tests
- Tests overall comprehension and satisfaction
2. Conversion Tests
- How many users use the feature after being prompted?
3. A/B Tests
- Which approach works better?
1. Define Success Upfront
2. Begin Measuring After Release
Decrease Adoption Overtime
- Remove the ability for new users to see feature
- Direct existing users to a new page or feature when they click on the one you`re trying to sunset.
- Give them an easy way to navigate back and tell you why.
- Allow ample time for existing users to transition
How To Get Started?
1. Define what success looks like for a new feature you`re working on
2. Create a dashboard and look at it weekly
3. Set targets and record what you see
4. Iterate on the feature based on the success measures.
Stephanie Tanzar, Pendo Director of PM