Defining the right product metrics
The importance of prioritizing certain product metrics over others is to narrow the focus and ensure that the product team focuses on the most important and relevant metrics. This helps avoid being overwhelmed by data and ensures that the team makes informed decisions based on the most impactful metrics.
In his book, The Lean Startup (https://www.amazon.com/Lean-Startup-Entrepreneurs-Continuous-Innovation/dp/0307887898), Eric Ries shares three criteria for good product metrics, which are shown in the following figure:
Figure 14.2 – Eric Ries’ three criteria for good product metrics
These criteria can also be applied to APIs to ensure that the metrics used are useful, relevant, and aligned with the overall business strategy:
- Actionability: Good product metrics for APIs should inform and guide the product team’s decision-making process. For example, data on API response times and error rates...
