Many managers rely too heavily on metrics to make decisions for them. Metrics don't make decisions—they provide guidance. Learn how to use metrics to inform your next decision.
- In some cases, our metric is a rating or a grade.…On a scale of one to five,…rate the service you received during dinner.…On a scale of 1 to 100, rate the person…you interviewed this morning.…Which letter grade, A to F, does this paper deserve?…How do we come up with these scales?…How many graduation's levels do we need…to have when measuring?…Does it really matter?…Believe it or not, it really can matter.…Let's go back to a metric we're probably all familiar with,…getting grades in school.…
Traditionally, schools provide grades from an A to F scale.…"A" being the highest grade and "F" being the lowest grade.…Let's begin with that as our starting point.…Suppose we give grades A through F…and this is the distribution of our grades for a class.…25% of the class got A's.…40%, B's.…25% got a C.…7% got a D.…
And 3% got an F.…What do we notice?…We really only have three highly populated grades.…And the other two grades wouldn't be considered…to be satisfactory.…An F is really bad.…But would you consider a D student as significantly better?…
- Metrics and human behavior
- Common corporate errors in measuring
- Developing a good metric
- Using the performance measurement tune-up
- Avoiding redundancy
- Using dashboards, infographics, and other data visualization tools
Skill Level Intermediate
Balanced Scorecard and Key Performance Indicatorswith Jim Stice1h 17m Intermediate
1. How and Why We Measure
2. Errors and Challenges in Measuring
3. Developing a Good Metric
4. A System of Metrics
5. Performance Measurement Tune-Up
6. Above and Beyond
Next steps1m 57s
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