tell me more about metric trees

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A metrics tree is a structured framework that helps you connect every metric you track back to your business’s most important goal—often called the North Star metric. The idea is to visualize how different metrics relate to and impact each other, ensuring that all tracked metrics have clear business significance.

- North Star Metric: At the top of the tree is your North Star metric—the single most important metric that reflects your product or business’s core value. - Component Metrics: These are direct inputs to the North Star metric, often with a clear mathematical relationship (e.g., leads × win rate = new customers). - Influence Metrics: These metrics are correlated with others but don’t have a strict formulaic relationship. For example, “speed to lead” may influence “win rate,” but not in a strictly quantifiable way.The higher a metric is on the tree, the more impact it has on the North Star metric and overall business performance. Lower-level metrics are more granular but always relate back to the top-level goal.

- Clarity: It helps teams avoid tracking too many irrelevant events and focus on what truly matters for business outcomes. - Alignment: Ensures everyone understands how their work impacts the company’s main objectives. - Efficiency: Makes it easier to identify which events and data points are necessary to calculate and report on your key metrics.

1. Define your North Star metric. 2. Break it down into component inputs (metrics with direct, formulaic relationships). 3. Add influence metrics (metrics that are correlated but not directly formulaic).This approach helps you design a focused event schema, so you only track the events needed to support your metrics tree, rather than collecting excessive, low-value data. For more guidance and visual templates, you can refer to resources like this Miro template for designing your own metrics trees.For a deeper dive, see the detailed explanation and examples in From metrics to events: How to build the best tracking schema for you.

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I'm sorry, but the knowledge sources do not contain any information about when metric trees will be available as a built-in feature in Mixpanel. While there are detailed explanations and recommendations on how to use metrics trees as a conceptual framework for organizing and tracking metrics, there is no mention of a specific product release or timeline for native metric tree functionality within Mixpanel itself From metrics to events: How to build the best tracking schema for you.

ℹ️ Tip: Mention @kapa.ai in the thread for follow-ups or DM the app for 1-to-1 help.