Cohort analysis answers a business question about how a specific group or segment of users has interacted with or is expected to interact with a product. Breaking users' behavioral data down into cohorts helps teams better understand what users want from their product. In 2026, that understanding is what separates teams that grow from teams that churn, and retention has moved to the top of the priority list. According to Bain & Company research showing that increasing retention by just 5% can lift profits by 25% to 95%, keeping the customers you already have is one of the highest-return moves a product team can make.