Identifying metrics
After defining the goals, we need a way to track those goals, which is when the metrics come in. Each goal should have metrics tied to it so that it can be tracked and measured. Different types of platforms should track different metrics in various phases of their life cycles. The following are some of the metrics that are applicable to different platform types:
- Producers and consumers: The number of active producers and consumers broken down by day and month is the essential metric that must be tracked for any platform during the start up phase. The total number of users is a more appropriate metric for platforms such as social media or information sharing, where producers and consumers are the same.
For marketplace and service-oriented platforms such as Amazon, Uber, and Airbnb, it is essential to track the producer to consumer ratio. These metrics are useful for the start up phase and will help measure the platform's accumulation goals. Total...
