Choose The Right Metrics For Your SaaS Portfolio

With the onset of everything digital, organisations are applying datadriven techniques across their business processes to get that 5-star customer rating

- Dattatri Radhakrishna

In today's digital world, one of the biggest concerns is how to assure a rewarding customer experience across various touchpoints. Every role requires data-driven thinking, be it in engineering, product management, sales, customer success, or marketing. Data-driven is more than just a trending topic. Almost all companies today are recalibrating their resources for collecting and analysing data on all aspects of their business. In addition to providing information on how various processes function, metrics help drive improvement.

THE POWER OF METRICS

Metrics tell you how various processes function and more importantly provide a base to drive improvements. Establishing the right metrics early can help you make better decisions about your product and your roadmap. A good practice is to discuss success metrics as soon as you can during the product development phase - and well before the product is launched.

The real challenge is to start identifying the few metrics to focus on at the earliest. According to a recent Forrester Consulting survey commissioned by Collibra, data-driven companies are 162% more likely to exceed their revenue goals than those that aren't. Moreover, they see significant spikes in customer trust and are more compliant. Measuring the right metrics is important in any business, but in SaaS, it could be the difference between profit and loss.