Last week I took a look at the benefit and pitfalls of outcome over output. One of the pitfalls I mentioned is that measure based on outcome is hard.
I think one reason people find it difficult is because the right outcome based metrics are not immediately apparent.
So this week I wanted to provide some examples of what good outcome based metrics look like, as well as provide some suggestions on how to identify them.
I hope you find theses resources helpful and make identifying the outcome based metric for your next initiative a little easier.
What do you do with mandated outcomes like staff reductions?
Sometimes you need to be careful about what you ask for, because you just might get it. For example, what do you do when you ask what outcome an initiative is supposed to accomplish and you’re told “reduce staff by 20%”? In this post I take a look at why mandated outcomes aren’t desirable and what to do about them.
OKR vs KPIs, What is the Difference?
When people talk about metrics, they often reference a couple of TLA (three letter acronyms): Key Performance Indicators (KPI) and Objectives and Key Results (OKR). The question is, are they the same thing or are there differences? One challenge is that both KPI and OKR can mean different things to different people. Felipe Castro has tried a variety of ways to explain the difference between KPI and OKR, and he has finally found one that seems to resonate with people, so I he wrote this post to share that explanation.
Data-Driven Product Management: Choosing the Right Metrics for Your Product
When you’re launching new products or features it can be difficult to determine the appropriate metrics because you rarely have any history of data. In some cases, if your product has recently launched, there might be a flood of data, but no structure or focus on the right metrics to use. Jim Semick, founder of Product Plan suggests several tips for incorporating metrics into your roadmap planning and includes a few sample metrics you may want to consider.
15 Metrics Every Software Product Manager Should Know
Metric-driven goals are fundamental to building great products. There are hundreds of different metrics that product managers could potentially measure. The trick is figuring out the right metrics for your context so that you can find that core set of metrics that matter most to you. Brian de Haaff, CEO at Aha! shares some metrics that his team finds important for SaaS companies and product managers to track. Even if you work on internal products, you may find some of these metrics relevant or a hint to the type of metric you may want to track.
The 5 Key Measurements of Product Success
When you’re trying to measure the success of a product you sell to your customers, it’s tempting to use revenue as the main measure of success. It’s difficult to tie a direct relationship to revenue for internal products, and it may not be a very good measure for products you sell either. So how can you look past revenue and find usable measures of success? The folks at FirstMark shared Todd Olson’s suggestion of five simple measurements of product success that you may find useful whether you work on revenue producing products or internal products.