I’ve recently had a chat with my team on metrics - one of the key topics a PM needs to be well-versed in. Metrics are at the core of helping you define what you’re truly after. Having a deep understanding of what you are measuring is the only way to make sure that in the long-run, you’re able to build a product that truly satisfies customer needs. Consider this post a basic intro in just that - getting a grasp on quantifiable measures of the performance of your product.
This question probably came up for anyone that ever worked as a PM - when should I use quantitative metrics, and when should I rely on qualitative metrics? It’s an important aspect of ensuring that the right data is used for the right aspect of product planning. Let’s start by distilling the terms. Quantitative data is data that is heavily grounded in numbers - how many users, what percentage of them are happy, what is the ratio of converted vs.
In a world where everyone is trying to collect and analyze data about their product, it is easy to get excited about numbers. After all, getting hard numbers about what you shipped is, in a way, validating or invalidating the provided value.