According to Saish Redkar, Senior Product Manager at DataRobot, “You can only get so much from Amplitude if you're tracking plan isn't designed well enough.” If you don’t nail that, then your insights will be limited. To overcome this, he has the following tips:

“Spend time on the tracking plan, give it the love it deserves. A good start to creating your tracking plan would be instead of asking, what do we need to track? You need to ask, what do we need to understand from our product?

Keeping the event naming convention as simple as possible. 

Capture enough context with your event properties. They are the superchargers to your tracked events.

You also need to try balancing out the insights to noise ratio in any tracking plan.”

This is a snippet from 7 Lessons from 7 Years using Amplitude in which Saish shares his insights from using Amplitude and from leading over 1300 discussions on data governance and product analytics on the forum.