Metrics

METRICS
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(January 12, 2012)
Metrics
Metric is the manner in which an organization is able to gauge its activities and performance. It ranges from the stakeholders shareholders and employee expectations from a company. They have for the longest while centered on the financial ability of an organization, then by the qualifications of the organization, a comprehensive customer analysis on customer satisfaction and value for money is also applicable (Klubeck, 2011). They are important because they help the managers to be in a position to estimate if their respective companies are making any progress.
The assess the progress in terms of the time used in achieving an objective, costs used, resources that are available to getting proper success. Quality and quantity of the company’s work and the actions to be taken in maintaining the good progress. The performance of the metrics is mostly based on trying to meet the customer requirements, develop the proper measures to be taken and have targets to meet for a successful venture (Hauser & Katz 1998). It shows the mathematical used to make policy decisions in the company in a measurable manner such that even the least value is of essence.
A performance dashboard is one which provides the management with a change to know of their progress. By monitoring activities, detect when there are any mistakes made getting their root cause, managing by making better informed decisions and measuring progress the company has made in a given time. It is a form of communication for the business persons (Sterne, 2010).
It can be implemented by having information analysis that focus on only the high values with the best possible profits possible. Having a performance plan that changes can be used such that for every p...