Key Business Metrics
Thinking about key business metrics, often shortened as KPI’s (Key Performance Indicators), is an essential part of a data scientist’s job. Here are a few examples, but you should practice brainstorming your own.
Tip: When in doubt, start with the easier question of “how does this business make money?”
- S-a-a-S startup: Customer lifetime value, new accounts, account lifetime, churn rate,
usage rate, social share rate
- Retail bank: Offline leads, online leads, new accounts (segmented by account type), risk
factors, product affinities
e-Commerce: Product sales, average cart value, cart abandonment rate, email leads,