What is lean analytics?

A product of “Lean Startup” principles, “Lean Analytics” is a book co-authored by the speaker and Ben Yoskovitz, focusing on using data to build businesses faster. It emphasizes a continuous “build, measure, learn” cycle, with analytics as the core of measuring and learning. The speaker provides a restaurant example (staffing cost vs. revenue) to illustrate simple yet effective metrics. Digital businesses naturally generate data, making analytics easier. The book outlines five stages of Lean Analytics: Empathy (understanding customer needs), Stickiness (building a product people repeatedly use), Virality (encouraging sharing), Revenue (monetization), and Scale (growth through channels). This sequential approach prioritizes building a loyal user base before investing heavily in growth. The Swiffer’s development exemplifies the “Empathy” stage, showcasing how understanding customer behavior led to a highly successful product. Key analytics concepts like segments (cross-sectional analysis) and cohorts (longitudinal analysis) are explained to highlight the importance of proper data interpretation for informed decision-making.
Source: venturecaptv