Funnels in experimentation: A perfect pair 🍐

Funnel metrics are essential tools in analytics platforms for tracking user behavior and identifying where users drop off during their interaction with a product, yet they have been underutilized in experimentation platforms due to complexity and perceived limitations. Despite initial skepticism, Statsig has enhanced its funnel functionality to provide clearer insights into user actions by measuring the sequence of events per user or session, which can help diagnose issues in conversion rates. While funnels can be complex and are often treated with insufficient statistical rigor, their proper use as diagnostic tools can provide a deeper understanding of experiment results, especially in growth scenarios. Effective funnel usage involves setting clear parameters, understanding user versus session-level data, and ensuring statistical robustness in conversion metrics. Statsig emphasizes the importance of ordered events, multi-step funnels, and session breakdowns for a comprehensive analysis, and encourages the adoption of best practices to maximize the potential of funnels in experimentation.