Difference between revisions of "Performance Metrics"
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| − | ''' | + | '''Performance Metrics''' are defined as figures and [[Data|data]] representative of an [[Organization|organization’s]] actions, abilities, and overall [[Quality|quality]]. There are many different forms of performance metrics, including sales, [[Profit|profit]], [[Return on Investment (ROI)|return on investment]], [[Customer Satisfaction|customer happiness]], customer reviews, personal reviews, overall quality, and reputation in a marketplace. Performance metrics can vary considerably when viewed through different [[Industry|industries]]. Performance metrics are integral to an organization's success. It's important that organizations select their chief performance metrics and focus on these areas because these metrics help guide and gauge an organization’s success. [[Critical Success Factor (CSF)|Key success factors]] are only useful if they are acknowledged and tracked. Business measurements must also be carefully managed to make sure that they give right answers, and that the right questions are being asked.<ref>Definition - What Does Performance Metrics Mean? [https://asq.org/quality-resources/metrics ASQ]</ref> |
Latest revision as of 21:24, 24 February 2021
Performance Metrics are defined as figures and data representative of an organization’s actions, abilities, and overall quality. There are many different forms of performance metrics, including sales, profit, return on investment, customer happiness, customer reviews, personal reviews, overall quality, and reputation in a marketplace. Performance metrics can vary considerably when viewed through different industries. Performance metrics are integral to an organization's success. It's important that organizations select their chief performance metrics and focus on these areas because these metrics help guide and gauge an organization’s success. Key success factors are only useful if they are acknowledged and tracked. Business measurements must also be carefully managed to make sure that they give right answers, and that the right questions are being asked.[1]