While they will give you the knowledge, the real power lies in how you learn from them, how you interpret, hypothesize, and spark change. In this article, we will introduce you to metrics and KPIs to track your product success. That’s exactly how Netflix decided to replace their 5-star rating system with simple like and dislike buttons, introduce the “percentage match” of the movies, and majorly simplified the UI.
Netflix’s ex VP/CPO Gibson Biddle, explained that they used data to hypothesize and then A/B test assumptions to find out what worked. Of course, knowing these changes exist won’t solve anything. To deliver the most value, encourage your return and loyalty, executives of companies like to start their weeks by looking at metrics – pieces of quantifiable data that illustrate the changes in revenue and customer behavior. Example? Uber, Spotify, Amazon, Facebook, Netflix, the AltexSoft website you’re viewing right now – just to name a few. Let’s make a bold assumption: Every software product you regularly use is data-driven.
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