Product Analysis

OVERVIEW

Vendbridge, a new platform launched by NexaLink, required a detailed assessment of its initial performance. Despite successful pre- and post-launch marketing campaigns, there was a need to understand user behavior, identify potential challenges in engagement and retention, and address app stability issues. This project delivered a comprehensive analytics report providing insights and actionable recommendations to ensure sustained growth and a positive user experience. 

OBJECTIVES

The primary objectives of this project were to:

• Evaluate user engagement through Daily Active Users (DAUs) and average time spent on the platform.

• Analyze growth and retention trends by assessing total installations, sign-ups, and uninstalls.

• Examine transaction volumes and assess app performance through crash reports.

• Compare regional performance using a leaderboard ranking system across key metrics.

• Provide actionable insights and strategic recommendations to counter forecasted declines, enhance user acquisition, improve app stability, and tailor regional strategies.

KEY COLUMNS

The analysis involved various metrics related to user behavior, app performance, and regional data. Key data points analyzed include:

• User Engagement: Daily Active Users (DAUs), Average Time Spent per user, User Growth (active users), Session Time, Conversion Rate, Retention Rate.

• Growth & Retention: Total Installs, Total Sign-ups, Total Uninstalls, New Installs (monthly), New Sign-ups (monthly), Uninstall Rate.

• Transactions & Stability: Total Transactions, Total Crashes, Transaction Rate, Crash Rate.

• Regional Data: Region (US, EMEA, Canada, APAC, LATAM), Numbers (for DAUs, Installs, Sign-ups, Average Time Spent, Transactions, Uninstalls, Crashes), Rank, Tier.

• Time-based Data: Monthly performance (June 2023 - August 2023), Forecasted trends (September, October, November).

TOOLS

The primary tools utilized for this product analytics project were:

• Data Source: Google Sheets (Primary data source for the three-month period from June 2023 to August 2023).

• Data Visualization: Tableau (for data visualization and creating the analytical dashboards).

• Analytical Techniques: Descriptive statistics, trend analysis, forecasting models, comparative regional analysis, and segmented user engagement tracking.

• Calculated Fields: Month-over-Month (MoM) changes, rates, KPIs, and ranking algorithms.

APPROACH

The project followed a systematic methodology to collect, analyze, and visualize data for comprehensive insights:

Phase 1: Data Collection & Methodology Setup

• Collected data over a three-month period (June-August 2023) with Google Sheets as the primary data source.

• Utilized Tableau for data visualization.

• Employed key calculated fields (MoM changes, rates, KPIs, ranking algorithms) to derive actionable insights.

• Ensured data accuracy and reliability through descriptive statistics, trend analysis, and forecasting models.

• Integrated comparative regional analysis and segmented user engagement tracking.

Phase 2: User Engagement Analysis

• Evaluated current user engagement performance, including total DAU count, average time spent per user, monthly active user growth, average session time, conversion rate, and retention rate.

• Forecasted trends for DAU and average time spent for September, October, and November to anticipate short-term dips, mid-term recovery, and long-term retention risks.

Phase 3: Growth and Retention Analysis

• Assessed current growth and retention performance by analyzing total installs, total sign-ups, total uninstalls, and monthly acquisition/retention rates.

• Forecasted trends for installs, sign-ups, and uninstalls for the upcoming months to identify potential slowdowns and churn risks.

Phase 4: Transactions Volume and App Stability Analysis

• Examined current performance metrics for total transactions and total crashes, along with transaction and crash rates.

• Forecasted trends for transactions and crashes to anticipate future performance and stability challenges.

Phase 5: Regional Performance Leaderboard

• Developed regional leaderboards across various metrics: DAUs, Total App Installs, User Sign-ups, Average Time Spent, Number of Transactions, Total App Uninstalls, and Number of App Crashes.

• Assigned ranks and tiers to regions (Gold, Silver, Bronze, Newbie) based on their performance.

Phase 6: Insights and Recommendations

• Derived specific insights from each analytical section (User Engagement, Growth & Retention, Transaction Activity, App Stability, Regional Performance).

• Formulated summary recommendations categorized by these focus areas, providing actionable steps to address identified challenges and capitalize on opportunities.

KEY INSIGHTS

The Vendbridge Product Analytics Report revealed several critical insights:

• Strong Initial Engagement with Forecasted Fluctuations: Vendbridge showed strong initial engagement (2.6M total DAUs, 97.70 mins avg. time spent, 99.3% retention). However, forecasts predicted a 5% DAU decline in September, a 4% recovery in October, and a significant 10% drop in November, signaling retention risks.

• Robust Acquisition, Future Retention Concerns: High total installs (5.4M) and sign-ups (3.4M) indicated strong market demand. Despite low uninstalls, forecasted declines in installs (-10%) and sign-ups (-9%) by November suggested a slowdown in new user acquisition.

• Transaction Recovery Amidst Stability Issues: Transactions were recovering (6.3% increase in August) but projected to decline by 10% in November. App crashes surged by 24.4% in August, indicating critical stability concerns.

• Varied Regional Performance:

  • US: Led in DAUs, transactions, and installs, but ranked lower in time spent and had the highest uninstalls and high crashes.

  • Canada: Led in average time spent, indicating deep engagement despite being 3rd in DAUs.

  • LATAM: Showed strong time spent despite lowest DAUs, but had the highest uninstalls and crashes, indicating high churn risk due to instability.

  • APAC: Ranked 2nd in sign-ups but 4th in installs, showing effective conversion.

• Marketing Effectiveness: Marketing efforts in June, July, and August proved effective, but future declines necessitated proactive strategies.

IMPACTS

This project delivered significant impacts for NexaLink and Vendbridge:

• Proactive Risk Mitigation: Forecasted trends enabled proactive implementation of re-engagement campaigns and loyalty programs to counter anticipated declines in DAUs and sign-ups.

• Optimized Marketing Spend: Insights into acquisition and retention trends guide targeted marketing campaigns and refinement of onboarding experiences.

• Improved App Stability: Identification of surging crashes and high uninstall rates in specific regions (e.g., LATAM) highlighted the urgent need for bug fixes and performance optimizations, enhancing user trust.

• Tailored Regional Strategies: Detailed regional leaderboards allowed for customized interventions to address specific weaknesses (e.g., boosting retention in the US, stabilizing APAC, enhancing transactions in LATAM) and capitalize on strengths.

• Data-Driven Decision Making: Provided a comprehensive analytical framework for optimizing user experience, improving retention, and driving sustained growth for Vendbridge.

DELIVERABLES

The key deliverables for this project included:

• Vendbridge Product Analytics Report (PDF): A comprehensive report detailing the executive summary, key next steps, introduction, data collection, methodology, data analysis and insights (user engagement, growth & retention, transactions & stability, regional leaderboards), and summary recommendations.

• Tableau Dashboards: Visual representations (leaderboards, trend graphs, bar charts) enhancing data interpretation and decision-making.