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“A good metric is a ratio or a rate. Accountants and financial analysts have several ratios they look at to understand, at a glance, the fundamental health of a company. You need some, too. There are several reasons ratios tend to be the best metrics: • Ratios are easier to act on. Think about driving a car. Distance traveled is informational. But speed—distance per hour—is something you can act on, because it tells you about your current state, and whether you need to go faster or slower to get to your destination on time. • Ratios are inherently comparative. If you compare a daily metric to the same metric over a month, you’ll see whether you’re looking at a sudden spike or a long-term trend. In a car, speed is one metric, but speed right now over average speed this hour shows you a lot about whether you’re accelerating or slowing down. • Ratios are also good for comparing factors that are somehow opposed, or for which there’s an inherent tension. In a car, this might be distance covered divided by traffic tickets. The faster you drive, the more distance you cover—but the more tickets you get. This ratio might suggest whether or not you should be breaking the speed limit.”

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Book:Lean Analytics: Use Data to Build a Better Startup Faster
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“Zach Nies suggests going even further, segmenting customers into three groups. “‘A customers’ are your really big customers who negotiated a big discount and expect the world from you. ‘B customers’ are customers who are fairly low maintenance, didn’t get a big discount, see themselves as partners with you, and provide useful insights. ‘C customers’ cause trouble, are a pain to deal with, and demand things from you that you feel will damage your business,” he explains. “Don’t spend too much time on the A’s—they sound good but aren’t the best for your business. Bring as many Bs on as customers as possible. And try to get your ‘C customers’ to be customers of your competitors.”

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Book:Lean Analytics: Use Data to Build a Better Startup Faster
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“Once, a leader convinced others to act in the absence of information. Today, there’s simply too much information available. We don’t need to guess—we need to know where to focus. We need a disciplined approach to growth that identifies, quantifies, and overcomes risk every step of the way. Today’s leader doesn’t have all the answers. Instead, today’s leader knows what questions to ask. Go forth and ask good questions.”

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Book:Lean Analytics: Use Data to Build a Better Startup Faster
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