Tracking Data

David Hornik writes: “As long as I have been working with startups, i’ve seen the power of iteration. The businesses that have succeeded have been the ones that carefully track the key variables that drive success and then work tirelessly to find new and creative ways to positively impact those variables. Web businesses endlessly tweak user acquisition strategies, user retention models, virality and the like. Price optimization companies work to pinpoint the key variables that have the greatest influence upon acquisition, retention and profitability; they then use their customer’s incoming data to continually revamp the statistical models and maximize the value of the customer base as a whole. Practically everything that impacts a startups business can be modeled, tracked and measured and the most successful entrepreneurs can never have enough data upon which to act and react.”

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.