Ananya’s approach
I’d first validate the data to confirm the 5% drop is real (check tracking, date ranges, and any recent analytics changes). Then I’d break it down by platform, app version, geography, traffic source, and funnel step to see where the drop is coming from. I’d check if there were any recent releases, experiments, or backend issues around the same time. If a specific step shows higher exits (like OTP, password, or payment), I’d deep-dive there using logs, error rates, and session replays if available. Finally, I’d align with product, tech, and marketing to identify the root cause and validate with a quick fix or rollback if needed.