Metrics and Analytics

It captures the core value customers get, is a leading indicator of long-term revenue, is measurable, and is something the team's work can move. Revenue alone is usually a poor choice because it lags value.

It only goes up and ignores whether anyone gets value; it is a vanity metric. A value-based count such as weekly active teams or nights booked is more informative.

Breadth (how many users engage), depth (how intensely), frequency (how often), and efficiency (how quickly they reach value).

Output metrics (revenue, retention) show results but are hard to move directly; input metrics (e.g., items listed, new-user activation rate) are controllable drivers that teams can act on and that predict outputs.

A leading indicator changes before the outcome and predicts it (e.g., week-1 activation); a lagging indicator confirms the outcome after the fact (e.g., annual churn).

An actionable metric ties a specific change to cause and effect and informs a decision (e.g., cohort conversion rate); a vanity metric looks good but does not guide action (e.g., total page views).