METRIC TYPES
Qualitative & Quantitative Metrics
KPI
Key Performance Indicator Metrics
KPIs are measurable values that indicate how well the product is meeting it's goals. This metric measurement helps product teams understand the impact that their work is having in a data driven way.
Examples of KPI metrics
Conversion rates - the percentage of users who take a desired action, like making a purchase
Support ticket rate – how many users are needing support based on a certain identified pain-point
User error rate - an indicator of usability, system failure or friction
Task success rate or funnel tracking – how successful users are at completing tasks/milestones
Error recovery rate - how many & how well users can recover from errors (self service)
KPIs can also fit within the S.M.A.R.T framework (specific, measurable, achievable, relevant, and timely)
