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The Lean Analytics Cycle: Metrics > Hypothesis > Experiment > Act

kaushik.net
three case studies. The first one, about Airbnb, shows a straightforward example of a hypothesis and an experiment without data. The second, about Circle of Friends, shows an example of an experiment based on data. And the third one, about High Score House, shows how to adjust the goalposts when they aren?t set properly in the first place. All three are examples of the Lean Analytics Cycle
The Lean Analytics Cycle: Metrics > Hypothesis > Experiment > Act - kaushik.net - Your Highlight Location 203-206 | Added on Tuesday, 9 April 13 23:18:25
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The underlying beauty here is that we?re being smart, fast, and iterative. We?re making a deliberate plan, measuring its results, and circling ever closer to our goal. Identify, hypothesize, test, react. Repeat.
The Lean Analytics Cycle: Metrics > Hypothesis > Experiment > Act - kaushik.net - Your Highlight Location 81-83 | Added on Tuesday, 9 April 13 23:17:41
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Step 4. Measure and decide what to do. At this point, you?ll know whether your experiment was a success. This leaves us with several options: 1. If the experiment was a success, you?re a hero. Celebrate a bit, then find the next metric that matters the most and move on to the next who, what, why exercise. 2. If the experiment failed spectacularly, we need to revisit our hypothesis. It?s time to identify a new who, what, and why, based on what we?ve learned. Remember, as long as you learn from it, failure is never a ?wasted? opportunity. 3. If the experiment moved the needle, but not enough to clear the goalposts, we should try another experiment. Our hypothesis might still be valid, and we can try again, adjusting based on what we?ve learned.
The Lean Analytics Cycle: Metrics > Hypothesis > Experiment > Act - kaushik.net - Your Highlight Location 75-81 | Added on Tuesday, 9 April 13 23:17:33
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Once you have your experiment, set up your analytics to measure the KPI against its current baseline and the goal you?ve set. Then run your experiment.
The Lean Analytics Cycle: Metrics > Hypothesis > Experiment > Act - kaushik.net - Your Highlight Location 73-74 | Added on Tuesday, 9 April 13 23:17:26
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If you have access to existing data, take some time to document what the current performance looks like.
The Lean Analytics Cycle: Metrics > Hypothesis > Experiment > Act - kaushik.net - Your Highlight Location 71-72 | Added on Tuesday, 9 April 13 23:17:17
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You start with a great hypothesis, and you?ll get a great experiment.
The Lean Analytics Cycle: Metrics > Hypothesis > Experiment > Act - kaushik.net - Your Highlight Location 69-70 | Added on Tuesday, 9 April 13 23:17:08
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First: Who is the target audience? Everything happens because someone does something. So who are you expecting to do a thing? Is this all visitors, or just a subset of them? Are they the right audience? Can you reach them? Until you know whose behavior you?re trying to change, you can?t appeal to them. Second: What do you want them to do? Is it clear to them exactly what it is you?re asking them to do? Are they able to do it easily, or is something getting in their way? How many of them are doing it today? Third: Why should they do it? They?ll do what you ask if it?s worthwhile to them, and if they trust you. Are you motivating them properly? Which of your current pleas is working best? Why do they do this thing for your competitors?
The Lean Analytics Cycle: Metrics > Hypothesis > Experiment > Act - kaushik.net - Your Highlight Location 60-66 | Added on Tuesday, 9 April 13 23:16:51
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We?re making an educated guess about what could improve the KPI based on what we learned in step 1. Step 3. Create the experiment. Once you have a hypothesis, you need to answer three questions to turn it into an experiment.
The Lean Analytics Cycle: Metrics > Hypothesis > Experiment > Act - kaushik.net - Your Highlight Location 57-59 | Added on Tuesday, 9 April 13 23:16:45
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the hypothesis comes from getting inside the head of your audience, asking them questions, or understanding what makes them tick.
The Lean Analytics Cycle: Metrics > Hypothesis > Experiment > Act - kaushik.net - Your Highlight Location 54-55 | Added on Tuesday, 9 April 13 23:16:35
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Another way to find the metric you want to change is to look at your business model.
The Lean Analytics Cycle: Metrics > Hypothesis > Experiment > Act - kaushik.net - Your Highlight Location 33-34 | Added on Tuesday, 9 April 13 23:15:21
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Step 1: Figure out what to improve.
The Lean Analytics Cycle: Metrics > Hypothesis > Experiment > Act - kaushik.net - Your Highlight Location 27-27 | Added on Tuesday, 9 April 13 23:14:51
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First, you figure out what you want to improve; then you create an experiment; then you run the experiment; then you measure the results and decide what to do.
The Lean Analytics Cycle: Metrics > Hypothesis > Experiment > Act - kaushik.net - Your Highlight Location 18-19 | Added on Tuesday, 9 April 13 23:14:35
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The Lean Analytics Cycle is a simple, four-step process that shows you how to improve a part of your business.
The Lean Analytics Cycle: Metrics > Hypothesis > Experiment > Act - kaushik.net - Your Highlight Location 17-17 | Added on Tuesday, 9 April 13 23:14:21
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