5 Aspects of your Business you Need to Track Today  to make any  Data-Driven Decisions

Post was originally published in October 2019, updated for relevancy in September 2021 + August 2023

You'd like to stay lean and scale, but how? What's the next step you need to take? Let your customers tell you -- through their data.

You can't get insights from data you didn't collect. It's less important about where you're storing the data and more about what you are -- and aren't. This is because we can use the data to calculate metrics (or 1-number summaries) that tell us what's happening in our complex business, and when tracked over time, can tell us how we're doing in terms of product market fit -- and where can we improve.

After 10 years of collaborating with companies of all shapes, sizes and industries, I've found that all aspects of your business fall into just 5 attributes that you should (legally and ethically) track across your platform/hardware/service and your customers, timestamped at the individual event level:

By tracking these 5 attributes about your business, you'll be able to answer virtually any question -- about the past, present and future*. These include:

To help you benchmark your product-market-fit by checking that you’re capturing everything about your business, schedule a flat-fee data strategy assessment.

Keywords: Product strategy, data products, customer understanding, customer acquisition, CAC, retention. 

*Data quality permitting

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