“These days, you’d be hard-pressed to find a product manager who doesn’t believe in the importance of collecting and analyzing product data. Being data-driven is no longer an exception or some fringe movement, it’s the rule—the new normal. And the product leaders who can get the best product data and glean the most insights about their customers are the ones who will gain a competitive advantage.
As we discovered in our survey of 200 product managers and executives, companies with the most advanced product analytics programs see annual recurring revenue (ARR) that is, on average, two times higher than those with less developed programs. For modern product teams at product-led companies, the value is clear: Better measurement informs better experiences, and better experiences produce more successful customers.
But as a product leader, how do you know which data you should pay attention to? And how do you figure out your product’s key performance indicators (KPIs)?
Whether you’re an aspiring product manager or a seasoned product executive, the metrics outlined in this guide will advance your career. For emerging pros, think of these metrics as the foundation of your product analytics program. For chief product officers, think of this guide as your annual product analytics checkup. If you can tick all 10 of these boxes, you know you’ve got the core data you need to provide continuous value to your customers — and organization.”