Metrics and KPIs for Product Managers: A Comprehensive Guide
Metrics and Key Performance Indicators (KPIs) are vital tools for product managers to measure the success of a product. They provide insights into the product's performance, customer satisfaction, and overall business impact. Selecting the right metrics and KPIs is crucial for driving product strategy and making informed decisions.
Airbnb closely monitors metrics such as booking rates, average nightly rates, and user retention rates to understand their market position and customer satisfaction. These KPIs help Airbnb make data-driven decisions to enhance their service and user experience.