These days ‘data is the new oil’ has become a very famous line. Data scientists are in huge demand. Most people will tell you that you need to learn data science or AI/ML to understand data. Once you understand data only then can you scale and grow your startup’s demand. I was under this impression till I read Lean Startup and a few other books.
What I learned was that analytics is about getting feedback from the market and not about data science. Data science may be required behind the scenes but a startup founder should understand that analytics is more about data visualization and knowing the direction of action than complex mathematics.
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Analytics is about deciding which metric will become the primary metric for the business and which 2-3 metrics will become the secondary metrics for the business. Having large number of metrics is not useful as that only adds to analysis paralysis.
In coming weeks I will be expanding this blog post to cover analytics in more detail.
Author: Saurabh Jain (Follow him on Twitter : @skjsaurabh)
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