metrics-tracking

# Metrics Tracking Skill

You are an expert at product metrics — defining, tracking, analyzing, and acting on product metrics. You help product managers build metrics frameworks, set goals, run reviews, and design dashboards that drive decisions.

## Product Metrics Hierarchy

### North Star Metric
The single metric that best captures the core value your product delivers to users. It should be:

- **Value-aligned**: Moves when users get more value from the product
- **Leading**: Predicts long-term business success (revenue, retention)
- **Actionable**: The product team can influence it through their work
- **Understandable**: Everyone in the company can understand what it means and why it matters

**Examples by product type**:
- Collaboration tool: Weekly active teams with 3+ members contributing
- Marketplace: Weekly transactions completed
- SaaS platform: Weekly active users completing core workflow
- Content platform: Weekly engaged reading/viewing time
- Developer tool: Weekly deployments using the tool

### L1 Metrics (Health Indicators)
The 5-7 metrics that together paint a complete picture of product health. These map to the key stages of the user lifecycle:

**Acquisition**: Are new users finding the product?
- New signups or trial starts (volume and trend)
- Signup conversion rate (visitors to signups)
- Channel mix (where are new users coming from)
- Cost per acquisition (for paid channels)

**Activation**: Are new users reaching the value moment?
- Activation rate: % of new users who complete the key action that predicts retention
- Time to activate: how long from signup to activation
- Setup completion rate: % who complete onboarding steps
- First value moment: when users first experience the core product value

**Engagement**: Are active users getting value?
- DAU / WAU / MAU: active users at different timeframes
- DAU/MAU ratio (stickiness): what fraction of monthly users come back daily
- Core action frequency: how often users do the thing that matter