In a new episode of Seedcamp Firsts, Candice Ren, Founder of 173Tech and a member of the Seedcamp Expert Collective, talks with our Venture Partner Devin Hunt about how data relates to building a great product at your startup.
“90 percent of the business question is typically answered by 10 percent of the data.” – Candice Ren
Candice, who contributed to building Bumble’s data analytics function and team, explains the importance of understanding and utilizing company data effectively in startups. She provides insights into establishing Northstar metrics, user journey analytics, feature analytics, data dictionaries, and strategies for effective data sharing among teams.
“A master dashboard is the first dashboard you should always build. That should cover all your top questions. Is the business healthy? Is there a fire I need to put out today? Or is something exploding from a future perspective I need to really jump on the opportunity? You want to keep it very high level and very straight to the point. That typically captures your North Star metrics.”
Learn about:
- the user journey as your source of data;
- the difference between product/app and features analytics;
- how to think about your data stack;
- what to track and why you shouldn’t track everything;
- why you need a master dashboard and what should it include.
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