Retention rate means active user ratio of an app or page for start and end of a given time frame. It is one of the most valuable metrics of a digital product because decreases in retention show that users are not coming back to use your application. Further decreases will mean fewer users and therefore less revenue for your company. On the other side, increases in retention show that there are more loyal users who will generate more revenue for you.There are multiple ways to increase user retention, including making your onboarding process more effective, decreasing barriers to engagement and support, improving the actual experience of your product, etc.
Revenue is a measurement of your business's ability to make money. Having revenue is almost always the primary goal of any business, as it's what provides the cash that a business can use to operate, grow and scale Always keep in mind that revenue itself is not enough though, it needs to be converted into profit if you want to be successful.
RICE is a prioritizing framework for product management that stands for reach, impact, confidence, and effort. RICE helps us to focus on what matters most in a manageable way. When prioritizing something, we need to consider our reach, which is how many people are going to bear the consequences of our work. We must evaluate the impact which is how big of an impact is this task going to have.