What metrics should be used?

Trusted experts emphasize the importance of selecting the right metrics tailored to specific contexts. Here are key insights on different types of metrics:

For Model Performance:

• Multiple Metrics for Comprehensive View: Utilize various metrics to assess both accuracy and efficiency, ensuring each model's specific needs are addressed, especially in fields like retail.
• Avoiding Cannibalization: Monitor the interaction between different models to prevent improvements in one (e.g., auto-completion) from harming others (e.g., spell-checking) 1.

For Startups:

• High-Level Business Metrics: Focus on key performance indicators (KPIs) like revenue growth, customer conversion, and churn rates.
• Selecting the Right North Star Metrics: Choose metrics reflecting end outcomes, such as transactions for a marketplace, rather than early-stage indicators like the supply side entity creation 2.

For Product Development:

• Categories of Metrics:
  • Health Metrics: Product availability and performance.
  • Usage Metrics: How the product is used.
  • Adoption Metrics: User growth and retention.
  • Satisfaction Metrics,
  • Ecosystem Metrics: Impact on and by the surrounding ecosystem.
  • Outcome Metrics: Resulting business or user outcomes.
• Avoiding Misinterpretation: Understand why specific usage leads to adoption rather than focusing solely on adoption metrics 3.
  • 

    1

    Metrics for Model Performance

    00:25:32
  • 

    2

    Metrics for Startups

    00:06:49
    
  • 

    3

    Understanding Product Metrics

    00:06:54
  • 

    4

    Metrics and Monitoring

    00:23:17
    
  • 

    5

    Productivity Metrics

    00:55:53
  • 

    6

    Reevaluating Metrics

    00:25:12

For Software Quality:

• Absolute Numbers vs. Trends: Both can be important, but trends often provide deeper insights into software evolution.
• Monitoring Over Time: Tools should track changes over time to detect new dependencies or architectural violations 4.

For Personal Productivity:

• Basic Productivity Metrics: Establish simple daily routines like a shutdown process and track key actions related to personal goals.
• Impact on Daily Life: Metrics should help reduce anxiety and increase intentional living by grounding your daily schedule and tasks 5.

General Advice:

• Empirical Evaluation with Metrics: Metrics serve empirical evaluation but should not be the sole evaluating method; delving into the 'why' is crucial.
• Avoiding Over-Reliance: Relying solely on metrics can mislead and limit discovery, thus they need to be contextual and accompanied by qualitative analysis 6.

By selecting, refining, and balancing the right metrics, experts can ensure they drive meaningful insights and improvements in various domains.