Proposing an Analytics Working Group (AWG)
I am proposing the funding of the Analytics Working Group (AWG) for 3 months ending on June 30, 2021.
What is the core problem(s) you want to solve?
The Coop relies on data to make decisions on product methodology, KPIs, treasury management, growth opportunities, liquidity management, and more. As the Coop grows (both communities and products), we need more consistent analytics contribution to allow the DAO to operate from a place of objectivity.
Why is this worth addressing today?
The Coop has rapidly gone from launching and supporting just one product (DPI), to now 3 products (DPI, CGI, FLI) with multiple more in the process. The Coop is on pace to supporting 10+ index products by the end of 2021. The analytics capabilities within the Coop must scale in order to support the Coop through this rapid growth. The Coop prides itself on being data-driven. Data is one of the life-bloods of efficient collaboration and decision making within a DAO. The Coop must operate from a foundation of facts and truth, and the AWG will work to make sure that is always the case.
How will you address it?
- Supporting work team analysis and product methodologists
- Building Coop-level and product-level KPI dashboards
- Performing ad-hoc user and market analysis to determine opportunities
- Injecting objectivity into governance discussions and voting
- Supporting growth (i.e. Content & Twitter, 1x week thread or blog post from AWG)
- Facilitate communication regarding analytics needs across the Coop
- Creating contribution processes to attract and retain analytics talent
What impact will this project have?
The AWG is here to support all other working groups and functions in pursuit of impact towards top-level KPIs. Specifically, the AWG will help keep all projects/efforts focused on the North Stars & Core KPIs.
One of the challenging parts of analytics using on-chain data is the shift from user-centered data (in traditional environments) to address-centered data (in crypto environments). By devoting resources to support time and effort to analytics, we can maintain focus on users, our North Star, even when it is not the most natural given the nature of the data. This is critical for the Coop whose mission is to build index products that resonate strongly with specific user segments.
Working Group Leader(s)
JD Cook (@jdcook)
- First person to answer the initial call for analytics contributors back in late Nov / early Dec 2020 - have been contributing consistently since
- Built/shared DPI retention analysis (working on building these into KPI dashboards currently)
- Supported KPI development, Treasury reporting, MVI methodology, and more currently in the works
- 5+ years of analytics and data science experience at growth-stage tech companies (Qualtrics, Thumbtack)
The next iteration of AWG will more than likely include a co-lead - hoping to onboard more direct analytics talent and contribution through this iteration of AWG.
Request for Funding
Use of Funds
Leader Stipend - $10,000/month
Contributor Rewards - up to $30,000
- estimate for 2-3 consistent part-time data/analytics contributors over 3 month period
Licences (Dune, Etherscan API, potentially Nansen, etc) - up to $10,000 over 3 month period
The $10k/mo for my contribution is set to cover all my contributions across the Coop for the next 3 months. I am quitting my full-time job to take on this working group full-time to ensure its success - I would not ask for contributor rewards anywhere outside this stipend.
$30k over 3 months is a best-case scenario for attracting and retaining consistent analytics talent to support the Coop at our current size (products, AUM). But this will only be fulfilled if we reach max capacity- it could end up being lower.
How will it work?
What will you be doing?
How will you interface with the community?
The AWG will be managed by the working group leader (myself), along with two council members (at least one from Set) that are not working directly on the AWG. The bulk of the work will be done by the working group leader, but the role of the other members of this council is to weigh in on prioritization decisions and contribution rewards - avoiding a single point of control.
The AWG will maintain a project board showing projects/requests completed, in-flight, or in backlog. Requests can be made by any community member, but will be weighed against other requests and prioritization decisions will be made to determine what is being worked on at any given time.
The AWG will be an asynchronous-first group. Meetings will be held between analysts and other contributors as necessary to understand needs/requirements and brainstorm solutions. Analysts will make it a point to attend weekly calls whenever possible and participate in all forum posts to ensure the working group is capturing all opportunities to provide support to the Coop.
I am committed to Index Coop principles
I am committed to serving the entire Index Coop with my work.
I am committed to open, rapid communication: I know that clear, constant, public communication lifts up the entire Index Coop community. I am committed to this style of communication.
Shared learnings: I will share my progress, learnings with the entire community. I will ensure that anything I create is accessible beyond my own tenure for future generations of Indexers to access & build on.
Intellectual honesty: I am committed to growth and improvement. I am open to feedback and will use feedback to improve my work for the benefit of the entire Coop community.
I am committed to making Index Coop a welcoming, fun, and engaging community to work in!