growth-metrics

Vocabulary Word

Definition

'Growth metrics' are special numbers used to measure the increase in a company's products, sales, or other areas. They help tell if the company is getting bigger or better.

Examples in Different Contexts

For digital platforms, 'growth-metrics' could include user sign-ups or daily active users. A tech lead might comment, 'The latest feature release positively impacted our primary growth metrics.'

Practice Scenarios

Operations

Scenario:

Our new process has made production more efficient. In addition, we can minimize defects to better satisfy customers.

Response:

Reducing defects is indeed important. We should use product quality as a growth metric to monitor its effectiveness.

Business

Scenario:

This quarter I can see we have exceeded our revenue expectation. But, we must also focus on improving customer retention.

Response:

Great point! We should also consider customer lifetime value as a growth metric to tackle customer retention.