If you will ask me about performance and how to measure it, I will not
answer you that you should measure customer satisfaction or bank's
loan financial aspect, I will answer you: “Give me metrics!”, “Give me
indicators!”
What is bad, good and great performance indicator or metric? It is up
to you and up to your business, but there are some common issues one
must remember.
First, metric or indicator must measure. It should me math formula,
equation, function. It must look like X = F(A1, A2, … An). Where A1-n
is the number of indicators you must look at and the F is the function
which tells what to do with indicators. X is the performance value.
What is bad indicator? It is when you tell, let's measure customers'
satisfaction in bank loan niche. You don't tell about what are you
going to measure, how you are going to measure this, it's not a
metric, but it's a good mission statement that tells about nothing.
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