"What gets measured gets done. Make sure you are measuring the right things!" — Peter Drucker
It is not enough to simply create a numeric measure. The measure should accurately reflect the process. We use metrics to base decisions on and to focus our actions. It is not only important to measure the right indicators, it is important to measure them well.
Choosing the right metrics is critical to success, but the road to good metrics is fraught with pitfalls. As your endeavors to become more metrics-driven, beware of errors in the design and use of metrics.
Common mistakes include:
- Metrics for the sake of metrics (not aligned)
- Too many metrics (no action)
- Metrics not driving the intended action
- Lack of follow up
- No record of methodology
- No benchmark
- Underestimation of the data extraction