Choosing the Right Metrics for Enhanced Decision-Making

Metrics. What is the deal with metrics? This term is thrown around in our operational landscape, but what are “metrics?” The definition of business metrics is “quantifiable measures used to track business processes to judge the performance level of your business.” Since there are many metrics that can be tracked, it is no wonder that people get frustrated with the multitude of data points and how to interpret them and integrate them into business processes.
 
We all track some form of metrics for our groups. The question is, are we tracking the right metrics, and do those metrics lead to good decisions? Do we allow for the metric to drive our decisions rather than our preconceived notion of the outcome? Via our Strategic Initiative, a team is looking for ways in which we can take this burden off the individual and address it as a collective. We are gathering inputs and data points that are relevant to the individual groups and then rebranding them to work for the masses. 
 
This is not simply a collection of reports and data, charts and graphs but, rather, integrated systems and visuals that allow the decision makers to make better decisions. It will provide a true understanding of the drivers of the data, how one decision affects the decisions of others, and how we can adapt to the variable nature of our business to be more proactive rather than reactive. Our task in the coming months will be to reach out to each respective group, gather insights into informational needs, and work together to formalize a plan to achieve their goals. Feel free to reach out to me and our team to see how we can best assist with achieving your goals around the use of metrics.