The many analytics tools available to help startups evaluate their company success can make the process of looking at company viability daunting; is it more important to look at demographics, or the reasons why people buy your product? Is there one metric to rule them all?
These are questions East Side Games CEO Jason Bailey answered at TechVancouver, where he talked about avoiding getting lost in the rabbit hole of data, and analyzing your metrics effectively.
He highlights the importance of understanding factors like why exactly users are buying the product, where the biggest payers come from, and which part of the company’s ad spend is working.
“When you’re asking yourselves these things, you ask yourself something that’s actionable. Asking a question like ‘where do my customers live’ but who fucking cares where your customers live? It’s not going to make a difference,” Bailey said. “What really matters is telling yourself ‘If you knew the answer to this question, what could we do differently?”
He also addressed how analytics tools can just end up making things more confusing, it’s important to stay consistent and ensure that you’re looking at “the right numbers”.
Watch Bailey’s whole talk below to understand what those numbers are: