2. Selecting and forming precise cohorts

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These are far from all the possible indicators that could be useful in the context of using cohort analysis, these are just examples. Depending on your line of business, analysis goals, available resources, you can also study other important indicators. For example, ROI, conversion, purchase frequency, average check, user engagement.

How to Conduct a Cohort Study: Key Steps
You can conduct a cohort analysis of small groups yourself. To do this, you first need to prepare, collect all the data, and then follow a few key steps.

1. Defining the objectives of the analysis, the most important indicators
The first step is to clearly define the system of goals. You need to understand why you need the analysis, what data you want to obtain, what conclusions you want to draw.


After defining the goal, you need to select key metrics for analysis. As we have already discussed above, these can be user retention, churn, customer lifetime value, and so on. The correct choice of key metrics will help focus the study and make it more accurate.

Next, you will need to form cohorts — groups of users united by a certain feature. The choice of features depends on the goals of the analysis. The formation of cohorts must be accurate and logical so that the comparison of groups yields results.

You should select unifying features so that after the target action has been iceland phone number list performed, you have the opportunity to identify the user and track his behavior over a subsequent period of time.


3. Data collection, performance analysis, evaluation and comparison of indicators
This is the most extensive and complex stage. First, you will need to collect all the data from different sources: CRM system, website, platform, various analytical services.

Then the data must be processed, structured and presented in a more convenient form for analysis. For example, the most convenient form of visual display of data for cohort analysis is tables: Excel, Google Sheets. Diagrams are also often used. They help to visually compare indicators.

And the last step is the actual data analysis and preparation of the corresponding conclusions. The analysis includes comparison of key indicators, identification of each cohort with the best results, and also search for cohorts with problems. Based on the results, a cohort report can be formed and built: the hypothesis is tested and recommendations are given for improving the product or service.


How to Apply Cohort Analysis: Examples
Let's look at several examples of using cohort analysis. They can clearly show how the analysis is carried out constantly and how it can be useful in practice. Examples of using cohorts in work.