Ideating metrics to track

ChatGPT Prompt

I’ve just joined as a Product Manager for a product that transcribes a live stream or live webinar in real-time. We charge per webinar or live stream minute. Using the North Star framework, can you suggest a few metrics I should be tracking to measure how well my product is doing?
Phoenix Baker
Product Manager
Lana Steiner
Product Designer
Drew Cano
Frontend Engineer
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Example Output

Using the North Star framework, a few metrics you may want to track to measure how well your product is doing include:

  1. Number of webinars or live streams transcribed: This will give you an idea of how many events are using your product and how much revenue is being generated.
  2. Transcription accuracy: This will measure the quality of the transcription service and how well your product is meeting the needs of your customers.
  3. Customer retention rate: This will measure how well you are retaining customers over time and indicate whether or not your product is providing value to them.
  4. Net Promoter Score: This will provide a measure of customer satisfaction and loyalty, and help you understand how likely your customers are to recommend your product to others.
  5. Time to transcribe: This will help you to understand how fast the transcription is happening and how well the product is meeting the customer's need of real-time transcribing
  6. Volume of webinars or live streams transcribed per employee or team: This will give you an idea of the scalability of the product, and how much capacity you have to handle more webinars or live streams.

It's important to note that the North Star Framework suggests a single metric that you want to optimize for, that represents the overall success of your product, that should be the one that you weight the most.