What are Output Metrics?
Output metrics are the results or outcomes that indicate the performance of a business.
Unlike input metrics, they cannot be directly controlled but are the consequences of various inputs and actions taken by the business.
Example:
Consider a fintech app that aims to increase the financial literacy of its users.
As an output metric, they might track the average amount of savings per user after completing a financial planning course.
This metric reflects the effectiveness of the course but is not directly under the control of the app's operators.
Significance:
Output metrics typically include financial figures such as revenue or profit, user engagement statistics like daily active users, or customer life cycle metrics such as customer lifetime value.
For instance, an increase in the average savings per user could indicate successful course outcomes, but it is influenced by various factors including user behavior, economic conditions, and the quality of the course content.