Metrics aren't perfect. In this video, examine the grading system in the United States and the challenges of building the perfect metric.
- So, a metric must be measurable,…attainable, and easily understood.…It needs to be cheater proof, and of course,…the metric needs to be strategically oriented.…If we took your organization's best metrics,…would they pass all of these tests?…Probably not.…Does that mean they're all useless metrics?…No.…There's no such thing as a perfect metric.…All metrics have their flaws.…
But, we must do our best to develop good metrics.…And for each of these metrics,…it's vital that we also understand their likely weaknesses.…Remember, a metric does not make the decision.…A metric provides guidance.…So, when a manager uses a metric,…the manager needs to understand the weakness of the metric.…The metric is only a number.…The manager has the benefit of understanding…why the number could be misleading in certain cases.…
And, when a group of managers work together,…the weaknesses of the metrics…will often be the talking points.…As the managers explore the validity of the metric,…they will hopefully come to a reasonable decision…
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- 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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