In today's data-driven world, product analytics is crucial in understanding user behavior, improving product features, and driving business growth. However, product analytics alone may not provide a complete picture of user interactions and business performance. Integrating product analytics with other data sources and systems is essential to gain deeper insights and make more informed decisions.
In the article “From Data to Insights: An Introduction to Product Analytics”, we walk you through the basics of product analytics, providing you with a high-level approach to get started with it. This time, we’d like to dig in deeper to dissect every step of the product analytics process, assuming that the main goal is to improve user engagement and retention.
In our previous Countly Digest, we delved into the top concern of product managers and analysts: tracking user behaviour. It is a crucial aspect of product analytics, as it enables companies to understand user behaviour and preferences, leading to better product development and increased revenue.
At Countly, we’ve been talking about product analytics for over a decade, moving from one in-depth article to the other without really taking the time to give our readers a straightforward handbook to understand this practice and harness its potential. As industry veterans, we'd like to share our two cents on product analytics.
Every so often, different advocates across organizations ignore the Voice of the Customer. This may be due to changes in business priorities, redistribution of resources, focus on new trends, or that they clear a profit regardless. This brings the value of the customer's voice into question: should we still allocate time and effort towards listening to customers when following new trends is the norm? The short answer is a resounding yes.
As a product manager, there are many characteristics that you need to embody to successfully manage a product team and launch a product. The product development process requires a lot of upfront planning before it even moves to production. And even then, the actual management of the design and development process has a greater set of requirements.
Business metrics provide a quantifiable way to measure the success of a business. They help organizations to track their progress internally while also serving as a way to communicate the performance of a business to stakeholders and external parties. There are hundreds of metrics that could be factored into these calculations, but they need to be specific to an organization to be effective.
As a product analytics solution, establishing a strong sense of trust is vital to what we do. It provides the foundation for the relationships we build with our clients, which in turn allows our clients to confidently provide the services they need to their customers. Data privacy and security are both key components of building a level of trust that is essential for both our customers and ourselves as a company.
When thinking about a product analytics solution, an essential component of the process lies in deciding between two types of data storage: cloud or on-premise. Each has its advantages and disadvantages depending on a number of factors, such as the stage or size of a business, budget, etc. Before we can tackle these variables, we should understand what each option entails.
If you currently work as a product manager, are thinking about a job in product management, or work with product managers, one thing is certain: you will hear a different definition of what a ‘product manager’ is (or does) from each person you ask. Is the product manager the “CEO of the product” (which is a broad and misunderstood definition), the person who manages the product (a much narrower view of product management), or both?
