Introduction to Business Metrics

What will we learn?

If we want customers to find, use, and integrate our APIs, we need to make sure they have a great product experience. If we have built a low-friction, easy-to-navigate experience to deliver high-quality, reliable, and scalable APIs, our customers will see the value, and our business metrics, such as revenue, Customer Lifetime Value (CLV), product adoption, and so on, will start to improve.

We've learned how infrastructural metrics assess API core function and quality, while product metrics measure API experience impact. In this chapter, we’ll learn about the business metrics we need to set up and keep track of regularly in order to measure the business impact of our infrastructure and product development projects. We'll learn about:

• Defining business metrics

• Measuring revenue

• Adoption tracking

• Churn analysis

• Optimizing for growth

• Measuring operations’ efficiency