Metrics refer to the quantitative measurements used to evaluate the performance of a product or a business. It is a set of numerical data that helps product managers to understand how their product is performing and how it can be improved. Metrics are essential for product managers to make informed decisions and measure the success of their product.
There are various types of metrics that product managers use to evaluate their product's performance. Some of the most common metrics include:
Metrics are important for product managers for several reasons:
Metrics are an essential part of product management. They help product managers to measure the success of their product, identify areas for improvement, track progress, and communicate with stakeholders. By using metrics, product managers can make informed decisions and ensure that their product is meeting its goals.