What is User Retention Analysis or Cohort Analysis?
User Retention Analytics for Defi Dapps with Dapplooker
What is User Retention Analysis or Cohort Analysis?
A cohort analysis is a group of users experiencing a common event within the same time period. A cohort analysis is needed when you try to derive insights from the behavior of a common group. A user retention dashboard is a visual tool used to track key customer-centric metrics such as retention rate, churn rates, MRR growth, and the number of loyal customers. That way a business generates detailed insights about its health and growth opportunities.
User Retention analysis is also known as “cohort analysis” is a key metric to measure the growth of digital products. Cohort analysis allows you to ask more specific, targeted questions and make informed product decisions that will reduce churn and drastically increase revenue.
Importance of User Retention Analysis for Defi Dapps?
Please see Aave User Retention Dashboard
Cohort analysis is very important for Dapps specially Defi protocols which are generating a huge number of transactions daily. It’s important to keep track of repeat users and understand what makes users happy.
User retention is a tool to measure Dapp user's engagement over time.
It helps to know whether user engagement is actually getting better over time or is only appearing to improve because of growth.
As you see patterns in how various cohorts engage with your Dapp and product, you can take steps that will encourage all customers to take various actions more efficiently.
How Dapplooker Helps do User Retention Analysis
Dapplooker provides visual tools through which Dapps can do cohort analysis. Dapp developers can connect their smart contract or subgraph and create visual user retention dashboards.
Dapplooker user retention tools help you:
• Know-how user behavior affect your Dapp
• Optimize your conversion funnel
• Create more effective customer engagement for your Dapp
• Understand customer churn and build strategies to optimize it
To create a user retention dashboard for your Dapp, get started now at https://dapplooker.com/signup
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About Dapplooker:
Dapplooker is multi-chain analytics and visualization platform for blockchain networks and Dapps. We aim to empower everyone to easily understand blockchain data and do analytics using the easy-to-use visual editor. Users can run SQL queries on smart contract data, build charts and dashboards which can be shared with the community.
