1. Clarifying Questions:
What is the metric that has dropped by 80%?
When did the drop happen? Was it sudden or gradual?
Is the drop affecting all users or just a specific segment?
Are there any recent changes or updates to the product that may have caused the drop?
Are there any external factors that may have contributed to the drop?
2. Product/Feature and Objective:
The product is a streaming video service.
The objective is to identify the cause of the 80% drop in the key metric and take corrective actions to address it.
3. Hypotheses:
Content Quality: The quality of the video content has decreased, leading to a drop in engagement.
Technical Issues: There are technical issues such as buffering, slow loading times, or crashes that are causing frustration among users.
Pricing: The pricing for the service is no longer competitive, causing users to switch to other providers.
User Experience:The user interface has become complicated or difficult to navigate, leading to a decrease in engagement.
Competition: There is increased competition in the streaming video market, and users are switching to other providers.
Marketing: The marketing efforts for the service have decreased, leading to a decrease in new user acquisition.
Seasonality: The drop in the key metric may be due to seasonal factors such as vacations or holidays.
4. Operationalizing Hypotheses:
Content Quality: Analyze user feedback to identify any specific complaints about the quality of content. Visualize the data using a word cloud or sentiment analysis.
Technical Issues: Analyze user feedback to identify any technical issues. Use a line chart to visualize the trend in reported technical issues over time.
Pricing: Conduct a price comparison with other streaming video services. Use a bar chart to visualize the pricing of the service compared to competitors.
User Experience: Analyze user feedback to identify any specific complaints about the user interface. Use a heat map or funnel chart to visualize the user flow and identify any areas of friction.
Competition: Conduct a market analysis to identify any new or existing competitors. Use a radar chart to visualize the market share of the service compared to competitors.
Marketing: Analyze the marketing efforts of the service and compare them to previous periods. Use a line chart to visualize the trend in marketing spend and user acquisition over time.
Seasonality: Analyze the historical data to identify any patterns of seasonality in the key metric. Use a line chart to visualize the trend in the key metric over time and identify any seasonal patterns.
5. Conclusion and Recommendation:
Based on the analysis of the hypotheses, we recommend the following actions:
Improve the quality of the content to increase engagement.
Address any technical issues to reduce frustration among users.
Consider adjusting the pricing to remain competitive.
Improve the user experience to reduce friction and increase engagement.
Conduct a comprehensive market analysis to identify areas of competition and potential opportunities for growth.
Increase marketing efforts to improve user acquisition.
Monitor the key metric over time to identify any patterns of seasonality and adjust accordingly.