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A Product Requirements Document (PRD) is one of the most essential documents in product work. It sets out the plans for a team that is ready to move from ideation to implementation of a feature or product.

The purpose of a PRD is to build a shared understanding of the reasons, process and outcome of the project and to answer all related questions so that stakeholders and the team have a common, synchronized view. It therefore touches all stages of product work: Discovery → Delivery → Analysis.

A metric is a way to measure anything and express it as a number. In a product or business, metrics are a key guide for assessing a company’s activities and outcomes.

The very notion of “metrics” inevitably raises many questions: why they are needed, how to choose them, how to calculate, track and interpret them.

This guide is for beginners in product or business metrics. It explores the concepts essential for working with data correctly.