Could be the funnel change messed with user flow. Check if people are dropping off at new steps. Maybe A/B test the old funnel against the new one for a bit.
Hold up. Before jumping to overhaul everything, dig into what changed with the funnel update. Look at specific user segments and see where the dip is happening. Is it new users? A certain cohort? Check if any key events or user actions shifted. Maybe the update affected a critical step without you realizing. Run some A/B tests on the new funnel vs. the old one. That’ll tell you if it’s actually causing issues or if something else is at play. Don’t blow up your whole analytics system over one dip. Investigate first, then adjust.