I noticed that the default position for people (and companies) is to collect as much data as possible. In a way, this makes sense. The more data you have, the better decisions you can make. Lacking data is worse than having too much data or so it seems.
In practice, a balance should be achieved between these two extremes. Both of these positions tend to be driven by the same fear: not knowing what is going on or what to do. By tracking everything possible, you try and reduce the possibility that you don’t know what is going on.
Instead, you should aim to clarify your thinking and your goals. At any given moment, there is only a handful of things that matter. Focus on fleshing out the most relevant questions for your product/role/company. These questions (or assumptions) should be impactful if proven or disproven.
Actions for This Week:
What are the biggest assumptions that if you could prove (or disprove) could help you achieve your targets/goals? Once you know these assumptions, what data do you need to validate them?
Interesting Articles & Resources
- A fascinating look at the trends behind baby names and why the name “Heather” has decreased in popularity. Read on to learn more about the 100-year cycle for names and how “Heather” could make a comeback in the next century.
- Are you spending $100 to save $1? Short article on decisions and why companies struggle to make certain decisions. Another reason to take emotions (fear, ego, pride, etc) into account when making decisions.
- I recently wrote a piece for ConversionXL titled “SaaS Data Planning: A Start-to-Finish Guide to Implementation“. It includes everything you need to get your data in order.
One more thing before you go! Are you getting the data you need to grow your company?
I find most companies are stuck with high-level metrics and they aren't able to properly understand what actually drives user growth for their web and mobile products. To do that, you need the right data and the right tools.
If this sounds like your situation, then you should download our free tracking plan (and tutorial video). This is the document that you should create
before you ever implement tools like Mixpanel, Amplitude, Segment, and Intercom. Click the image below to download your own free tracking plan (and tutorial video).