I apologize for the double posting. That’s what I get for rushing. Here is an engineering-oriented perspective on creating value, where to measure, & what each measurement point means. tl;dr measure too early in the chain & you risk worse results at the end of the chain where you actually care about results (profits, in this case).
*More Features* does not always mean *More Profit*
When additional features make the system less reliable, or more difficult to use, then popularity, usage, value, and profit may decline.
There is a kind of engineering output that pretty directly links to profit, namely reducing the cost-per-use of the product. But somehow, I feel like the industry pays a lot less attention to that than to creating new features. I would guess it's because it feels less exciting.
Using an analytics stack such as Heap Analytics, it's possible to track feature use and understand their effect on profit. It's important, of course, to design and evolve the tracking framework as the product grows.