Understanding the Unique Benefits of the Signal Report

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The Signal report in Mixpanel provides unique benefits that complement other analytics reports by quantifying correlations between events, helping you discover which user behaviors truly drive your key business outcomes.Specifically, Signal offers these distinct advantages: 1. Correlation quantification: Signal measures the statistical association between a correlation event and a goal event, using the phi coefficient (a value between -1 and 1) to show how strongly events are connected to outcomes like retention or conversion Signal: Quantify correlation between two events.2. Opportunity Score: Mixpanel's proprietary calculation helps identify which correlations are most actionable, eliminating false positives and highlighting weak correlations that may still be valuable Signal: Quantify correlation between two events / Reference.3. Optimal action identification: Signal tells you exactly how many times and within what timeframe users should perform an action to achieve optimal correlation with your goal event, giving you precise guidance for product decisions Signal: Quantify correlation between two events.4. Supporting statistics: For each correlation, Signal provides detailed metrics like precision, recall, fall-out, and false omission rate to help you fully understand the relationship between events Signal: Quantify correlation between two events.5. Retention prediction: As one customer explained, Signal helped them identify which specific user actions were most strongly correlated with long-term retention, allowing them to focus their efforts on encouraging those particular behaviors Using product analytics to find metrics that connect to retention.For example, a music sharing app could use Signal to discover that "Song Played" strongly correlates with "Song Purchased," enabling them to build features that encourage song plays to increase purchases Signal: Quantify correlation between two events.Note that Signal is available on Mixpanel's Enterprise plan and is also included in the Startup plan Where startups grow: Q&A with Mixpanel for Startups' program lead.

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