Lean analytics is a process by which, through practical measures put to the test, a startup is launched from the initial idea until the product is developed and brought to market, even reaching beyond.
By measuring and analyzing as the company grows, you can validate whether a problem is real, find the right customers and decide what to build, how to make economic profits, and how to increase the branding. This process focuses on the metric that matters to each business at all times and thus provide the attention it needs to move forward, as well as the discipline to know when to change course.
Lean Analytics Methodology
This methodology has been designed to get companies to adopt a product development cycle of generation, measurement and learning.
The Lean Analytics cycle is a simple, four-step process that shows how to improve a part of a business.
- First of all, you need to find out what you want to improve
- An experiment is then created.
- After that, the experiment is carried out.
- Finally, the results are measured and it is decided what to do.
The cycle combines the concepts of the Lean Startup world with the fundamentals of Analytics. This helps amplify what’s proven to work, get rid of what doesn’t, and adjust the ultimate business goals when the data indicates they may be pointing to the wrong place.