Perhaps more important, companies’ growing ability to collect, store, and analyze vast amounts of user data, and to track it in real time, was now enabling even small start-ups to experiment with new features, new messaging or branding, or other new marketing efforts—at an increasingly low cost, much higher speed, and greater level of precision. The result was the emergence of a rigorous approach to fueling rapid market growth through high-speed, cross-functional experimentation, for which I soon coined the term growth hacking.
We have access to the data, the challenge now is narrowing it down to Key Performance Indicators (ideally just 1 per goal) and focusing. There can be an inundation of data that makes data-driven decision-making almost impossible without focus. Knowing WHAT to measure & improve is the real challenge.
