When viewing data as a product, it is crucial to measure it accordingly. This means going beyond mere table and row counts and instead focusing on factors such as adoption rates, reliability, and actual business impact.
A thorough measurement plan monitors performance in four key areas: Adoption, Quality, Operational Health, and Business Value.
Assesses if the intended audience is actively using the data product to gain valuable insights.
Evaluates the intrinsic precision and reliability of the data provided to users.
Evaluates the efficiency, availability, and speed of the data product's infrastructure.
The key metric: directly connecting the data product's existence to financial or strategic results.
Different people prioritize different metrics. An effective data strategy includes a range of metrics that span from operational health to business impact.
If your pipeline consistently operates without issues (High Reliability) but lacks user engagement (Low Adoption), your Business Value will be minimal. It is crucial to assess the entire system to pinpoint where your data product strategy is failing.
ROI, Revenue Uplift, Cost Savings
MAU, Query Volume, Dependant Apps
Contract Pass Rate, User NPS, Accuracy
Uptime, Latency, MTTR, Compute Costs
Don't speculate on the worth of your data teams. Use a standardized KPI framework to monitor the success and ROI of each data product in your network.