Statistics forms the core of the modern world. In business, if you are A/B testing you are using statistics. If you are projecting your growth, you are using statistics. If you are calculating churn, upsell, or conversions you are using statistics.
Statistics helps you understand what the numbers in your business really mean. Is your conversion rate good? Is your A/B testing working? Are you going to hit $5 million ARR by 2020? That is the role statistics can play in your company.
The Complete Guide to Statistics for the SaaS Executive is geared towards SaaS leaders who want to know more about their company and get the answers to these questions. Even if you haven't seen probabilities since high school, this guide will walk you through how to apply these ideas to your business.
You can get the full book here, but the following is an overview of what you'll be getting.
Here's what we want to teach you to help you understand your business:
Chapter 1: The Future Is Statistical. Artificial intelligence, cryptocurrencies, predictive analytics. All, deep down, are based on statistics. Understanding statistics lets you not just understand your business today but also prepare it for the future. If you want to take advantage of these new technologies, you need to know how they work.
Chapter 2: The Statistical Basics of Your Business. Stats aren't frightening and aren't hard. With just a little bit of knowledge you can turn these numbers into insight that can drive your company to further growth. In this chapter we want to introduce you to the basic components of statistics and start you on the road to using these metrics for a greater understanding of the value of your product to customers.
Chapter 3: Understanding Trends in Your Data. Appreciating the relationships between all your data allows you to not only know where your business is now but gives you the foundation to predict the future. In this chapter we show you the statistical basis for this understanding. By visualizing, correlating, and fitting trend lines to your data you can use these numbers as the bedrock for growth.
Chapter 4: Understanding Probabilities. Probabilities dictate a massive amount in our lives. In SaaS that is even more true. What is the probability a visitor to your site will convert? What is the probability a customer will churn, retain, or expand? What is the probability that your company will survive? In this chapter we show you how to calculate probabilities and how they fit together.
Chapter 5: The Power Behind A/B Testing. A/B testing allows you to make changes based on data. In this chapter we are going to put a lot of what we've already learned together and show how stats can take hunches about your site and subject them to scientific rigor. Probability pulls together basic statistics into a single framework that allows you to put statistics to use throughout your site, emails, or product.
Chapter 6: Modeling Growth. Understanding how growth works is integral to understanding how your business works. In this chapter we take you through how you can model your growth using functions and a little bit of calculus. These mathematical ideas are so important to understanding your business that every SaaS executive should know what they are really showing when they present their up-and-to-the-right graph at the next board meeting.
Chapter 7: Machine Learning. Combining all of these statistical tools into a single applied technique would allow you to significantly increase your understanding of your business. In this chapter we are doing exactly that through machine learning. At their heart, machine learning and AI are still math and a lot of the basics of ML is statistical modeling by another name. Here, we're going to show you how machine learning works and how you can use it in your business.
This is what we do at Price Intelligently and ProfitWell. We use math and statistics to better understand thousands of SaaS companies and how they have used these techniques for growth. You can download the book here, and if you ever have any questions, feel free to email me at Patrick@Priceintelligently.com. We're more than happy to help.