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.
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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