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Common mistakes using metrics and a check list to find them

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Here we have identified the most common business mistakes found when using metrics and key performance indicators. Use this as a management and leadership guide to highlight the errors in current reporting structures and put in place the corrective actions needed to improve the return on investment through your metrics, KPI's, analytics and reporting.
Based from the full blog article

http://www.jamsovaluesmarter.com/blog/common-mistakes-using-metrics

Published in: Leadership & Management
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Common mistakes using metrics and a check list to find them

  1. 1. Common mistakes using metrics and a check list to find them Goal Setting, Metrics, workshops, training and consultancy
  2. 2. These are the metrics, used around the organization designed to look great but mean little, i.e. measuring only positive outcomes. Vanity Metrics Goal Setting, Metrics, workshops, training and consultancy
  3. 3. The measurement of metrics not linked to strategic goals or objectives. MESSY METRICS WITHIN THE CULTURE. Goal Setting, Metrics, workshops, training and consultancy
  4. 4. An emphasis on attaining an absolute number and not the trajectory and speed of improvement. FINDING THE ABSOLUTE NUMBER Goal Setting, Metrics, workshops, training and consultancy
  5. 5. Focusing mostly on past performance. LAGGING INDICATORS BIAS Goal Setting, Metrics, workshops, training and consultancy
  6. 6. Industry benchmarks are convenient and often perceived as a lower cost method to create standards and expectations within a business. USING ONLY BENCHMARKED METRICS Goal Setting, Metrics, workshops, training and consultancy
  7. 7. NOT UNDERSTANDING BASIC STATISTICS Goal Setting, Metrics, workshops, training and consultancy
  8. 8. Management do not question the trends and other contributing factors that could bring business objectives and strategic goals faster and better. NOT ASKING QUESTIONS Goal Setting, Metrics, workshops, training and consultancy
  9. 9. Selecting inappropriate frequency and scales of measurement in metrics. FREQUENCY/SCALE OF MEASUREMENT Goal Setting, Metrics, workshops, training and consultancy
  10. 10.  How are your metrics linked directly to the goals, objectives, vision and mission of your business?  How do you identify and track trends of performance and measures within your existing metrics?  What is the frequency intervals of measurement and what benefits can be made from adjusting them or their scale of measurement?  What impact will the metric have on the business this week, month, quarter, year, 36 month period? Check List to avoid common metric mistakes: Goal Setting, Metrics, workshops, training and consultancy
  11. 11. www.jamso.global Twitter @jamsovaluesmart ”Helping Business Peform” Contact JAMSO Now Goal Setting, Metrics, workshops, training and consultancy

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